Digital transformation is one of the hottest new business models in the enterprise today. Going through this process places digital technologies front and center in all of a company’s strategic goals. And it’s not an easy undertaking, either. You’ll need to contemplate and analyze core business functions carefully. You’ll also need to involve change management and invest time and resources, but the potential rewards are many.
What an action-packed week at Sibos, the world’s premier financial services event held last month in Amsterdam. It was exciting to be back with other industry leaders to talk about the future of banking and how intelligent automation is critical for success. Appian is modernizing processes for some of the largest banks, including many in attendance. In fact, we were excited to kick off Sibos on stage together with our client Rabobank, the second largest bank in the Netherlands.
Today, the world is much more connected than it was a few years ago. Smartphones have brought an explosion of new technologies and applications that have fundamentally changed our lives. Why so? It's down to mobile applications. Mobile apps play a vital role in the broader process that advocates for digital transformation.
Financial services institutions are playing the long game in working toward digital transformation. Considering the rapid rate of change and innovation over just the last 10 years, leading financial organizations are realizing that digital transformation isn’t a destination. It’s a journey. While there isn’t one right way to approach digital transformation, some strategies are less effective than others.
Digital transformation. Everyone has their own ideas about what digital transformation means, so I decided to look up a few definitions.
Whether a company is small or large, digital transformation is essential. Every lecture, panel discussion, article, and study about how firms can stay competitive and relevant as the world gets more digital makes that point loud and clear. Many corporate leaders are unsure of what the term “digital transformation” actually entails. Is it merely a memorable way of saying “going to the cloud”? What concrete actions do we need to take?
Digital transformation has the potential to streamline your business processes, lower operational costs, improve customer satisfaction, and contribute to revenue growth. Once you build a digital transformation blueprint and follow the steps, you will have a business positioned for long-term success. Although digital transformation projects can help you save a lot of money in the future, you still have to pay for digital technology that leads to cost savings.
