How would you define Digital Transformation?
In this special episode of MING Labs’ podcast Lost In Transformation, we compiled a couple of statements from inspiring digital leaders with distinct backgrounds and experiences, on what Digital Transformation means to them.
Listen to this episode for the full story on how different digital leaders perceive and define Digital Transformation. Our featured speakers touch upon topics such as the influence of digital towards the mindset and culture of people in the workplace, and the fundamental change we are able to deliver in our everyday lives and business processes through the leveraging of digital technologies.
3 Main Takeaways From This Episode
01 Departing from traditional working cultures: Transforming the core of a company from caterpillar to butterfly. Some of our global leaders referred to the impact on culture, mindset and our working methodologies as the first thing on their mind when highlighting a definition for Digital Transformation. Marie-Helene from Speedinvest specified the differing notions of transformation from a technical standpoint and that representing a mindset: “I think it involves departing from traditional ways of work, to be open and flexible with new creative ways of thinking, and to find ways of exploiting new technologies to our benefit.” This adaptable mindset and creative thought process can permeate throughout the entire organization, leaving a lasting impact on company culture. “Digital Transformation means you have altered the fundamental form or substance of your organization, by truly infusing digital elements to enhance every aspect of the organization,” adds Scott Anthony from Innosight, comparing the process to a butterfly’s transformation.
02 Digital transformation is not about digital — it’s about what digital enables you to do. The ways in which organizations apply technology to reshape and enhance business processes was a secondary point of emphasis in our leader’s definitions. “To me, digital transformation spotlights the importance of improving the operational procedures of either an organization, startup, or individual through the application of technologies,” details Tribe’s Yi Ming Ng. Florian Bankoley from Bosch shares the same sentiment, however, makes a point to a different definition: “I actually like to use the term business transformation. Because in essence, this is what’s happening. It’s a transformation in your business, through the methods in which you create and deliver your products and services to your end-consumers.” Pete Overy from Agency adds by drawing attention to a core challenge: “It’s not about digital. It’s about what digital enables you to do. While this is a common notion heard all around the world, I still think businesses repeatedly make the same mistakes and fall into a digital trap.”
03Facing the difficulty to anticipate change, and using tech as an enabler, amplifier and accelerator for more efficient futures. The leveraging of technologies to uncover new business models, and fundamentally change how we deliver services in a new digital manner was included in the definitions of a number of our guest speakers. Jerry Tso from PayPal underscores this in “Digital Transformation is not just about leveraging technologies to solve problems, but really about how you bring benefits to your customers and improve their business outcomes through technologies.” This applies to internal organizational improvements as well, by “allowing you to grasp and seize opportunities that you weren’t previously aware of,” such as empowering employees and elevating their capabilities. Overall, companies need to think about how digital assets can inspire and influence new business opportunities, while trying to anticipate future needs and developments in their industries.
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