The term digital transformation means many things to different people, but companies who have successfully embarked on this journey share common elements and cultural characteristics.

From my experience, every real digital transformation includes the following elements:

  • A new customer experience – Companies either perform an extreme makeover of customer interactions or, more likely, create an entirely new, innovative experience
  • A new business model – Companies go beyond simply optimizing existing business processes and significantly shift their models to take advantage of untapped technologies or unmet customer needs
  • A new value creation model – Companies use co-creation processes to focus on the interest of all stakeholders, rather than just the producer and the consumer

Source:  Jonathan Becher D!gitalist Magazine