Originally written by Stephanie Spicer on Small Business
Amid the drama of 2018’s technology markets, one sector showed notable resilience: enterprise software. This was no accident, these companies are geared into a major shift in the way the corporate sector manages its technology needs. This ‘digital transformation’ (tackling traditional problems with digital technology) is dramatically changing industries from the healthcare to consumer sectors and beyond. In 2018, more companies woke up to the potential gains from a digital strategy.
What is digital transformation?
The definition of digital transformation strategies will be as disparate as the companies that employ them. However, at its heart, it involves rethinking existing business models and processes through the use of technology. As such, it may incorporate many aspects of technology, including artificial intelligence, the internet of things, cloud computing and software-as-a-service.
For example, moving to software as a service and cloud computing as part of a digital transformation lets companies circumvent a costly upgrade cycle. Rather than having to support expensive in-house technology capability, they can pick and mix their technology requirements to suit their business requirements. They can move data storage to the cloud and buy their software on a subscription basis. This means companies don’t have to