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Digital Transformation

Digital technologies are shaping our everyday lives and their development is progressing at high speed. For companies, this presents both opportunities and risks. To be able to seize the opportunities, they need to digitally transform themselves.

What digital transformation really means in companies and how the process can succeed. An overview.

Definition: What Is Digital Transformation?

In a broader sense, digital transformation describes the transformation of society through digital technologies. In a narrower sense, it refers to the process in companies of changing workflows, customer relationships and business models with the help of digital systems, with the goal of increasing the company's success.

For many companies, the challenge of digital transformation is a top topic; they are in the middle of change. According to the Capgemini study Digital Mastery 2020, two-thirds of companies worldwide already have the skills to successfully manage digital transformation. To avoid competitive disadvantages, companies of all sizes need to focus on how they can integrate digital technologies into their processes and business models.

Benefits of Digital Transformations for Companies

Digital transformation in companies is a process that lasts for months and years and requires a high level of human and financial resources. However, the benefits are significant and can be measured quickly if a strategic approach is taken.

Examples of Digital Transformation in Companies

Digital transformation has many faces: More efficient processes, new products and changed or completely new business models can be the result.

Digital Unit Drives Change

OBO Bettermann, a company for electrical and building installation technology, established its own digital unit several years ago to accelerate the digital transformation within the Group. First, the website was rolled out to all 40 subsidiaries, then a newsletter tool was introduced company-wide, and finally innovative business models were implemented.

From Online Store to Online Marketplace

Customer focus has always played a major role at the Engelhorn fashion house. The company is continuously developing its digital product range. From a simple online store most recently to an online platform where many hundreds of suppliers present their items. Master data management and product data management no longer had to capture data only from Engelhorn itself, but from all partners.

Focus On Customer Needs

At the fischer group, you can find examples of digital transformation in all areas from marketing and product development to customer service. For example, the fastening technology division uses new digital tools in consulting, the construction division visualizes customer building designs via Building Information Modeling (BIM), and internal processes are accelerated via automation.

Challenges of the Digital Transformation

As a rule, the process of digital transformation does not proceed in any company without obstacles, setbacks and resistance. There are many different reasons why the successes of digital transformation are so long in coming.

One essential factor: the human. Few people react with joy when it is revealed to them that the previous usual procedure will not be continued in this way. Employees' working conditions and responsibilities change, and some have to settle into entirely new roles. Managers must help manage these social and psychological aspects of the digital transformation.

In some cases, there is a willingness to innovate in the teams and departments, but management is hesitant to release sufficient budget for supposedly risky projects. This is another way in which companies can block their digital transformation and future success themselves.

Some companies realize that they have let the digital transformation process slide for too long and then rush into it. Pilot projects are launched and innovation departments established without an overarching strategic plan. Often, the IT infrastructure must first be successively modernized so that data and systems are at all capable of supporting new technologies and changed processes show the desired effect.

Why Is Good Data Quality Important for Digital Transformation?

Digital systems are not an end in themselves. Their essential added value is in the data they collect and evaluate.

What are the processing times for picking? Which product categories generate the most sales? Which marketing campaigns generated the most valuable leads? If companies can't trust the data, the answers they get from their applications are worth nothing. Then conclusions and derived actions come to nothing. Data quality is a crucial success factor for digital transformation.

Consulting for Digital Transformation - How Can Parsionate Help?

We see ourselves as a management consultancy for digital transformation. Our focus is on introducing strategic data management in companies or optimizing such management and ensuring first-class quality of the processed data. In this way, we create the prerequisite for our customers to be able to generate valid insights from their data and for further digital transformation measures to be crowned with success.

Whether you want to implement a company-wide data strategy or only want to optimize individual aspects such as master data management, in our strategy consulting we obtain a comprehensive picture of your starting position and accompany you individually so that your company can make even better use of the opportunities of the digital age.

Frequently Asked Questions About Digital Transformation

Accelerate Transformation

Are you using the full potential of your company data? Let's find out together how you can get more out of your data. Take advantage of the opportunity for a non-binding initial consultation.
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