What is Digital Transformation and Why is it a Disruption?by Fintech News Hong Kong September 30, 2016
There are many talks about “Digital Transformation” recently, but what does it really mean, and why is it called a disruption? Depending on how you perceive it, this term may be just a fad to you, or it may mean the beginning of an outright evolution in your company.
An article by Vincent Leung, an internationally experienced Digital Marketing and Communications expert who has held digital strategy presentations in Hong Kong, Singapore, and Paris. Currently, Vincent is in charge of BNP Paribas’ Group digital branding and content strategies in Asia Pacific.
Instead of only using the usual technical perspective to see this such as big data, blockchain, interactive technologies, etc., innovators need to also see it in a more psychological way: the most crucial step in digital transformation starts from transforming from within the mindset. Most importantly, innovators need to illustrate how the end-consumers and clients are now expecting unified customer experience across all channels, which is beyond what large enterprises can offer today due to the sheer size of the companies.
A digital mindset is the essence of digital transformation.
Ultimately, rather than seeing digital transformation as a risk, the true risk is actually not applying digital innovation and grasping the new opportunity it will provide to the business. Gradually, digital strategies will be encouraged and accepted, new technologies will be in demand and utilized efficiently, and ‘digital disruption’ will then evolve into true ‘digital innovation’.
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This article first appeared on Fintech News Singapore