What is digitalization?
According to Gartner, “digitalization is the use of digital technologies to change a business model and provide new revenue and value-producing opportunities. It is the process of moving to a digital business.” This includes evolving existing products more quickly, and being more agile in bringing new products to market.
At a greater level of detail, digitalization means that the enterprise implements its critical business processes in software. These include:
- Marketing to prospective customers
- Engaging with existing customers
- Managing the relationships with suppliers
- Managing the entire production to fulfillment process
- Managing the relationships with partners
- Managing the relationships with employees and contractors
It is also clear from the Gartner research that CEO’s expect digitalization to drive growth in sales and profits and that they expect their technology management teams (IT) and technology leadership teams (the CIO and his staff) to successfully lead and implement the technology initiatives that will deliver these benefits from digitalization.