Digital Transformation is the process by which organizations integrate technologies across their entire business areas resulting in increased efficiency, better interaction with customers, faster business decisions. This results in maximizing profits and lowering costs driving a win for employees, customers and shareholders alike.
The main concepts for Digital Transformation are:
- Digitization: This involves converting information and documents from analog to digital formats and setting up automation for it.
- Digitalization: This is the use of digital technologies to change business processes and projects by integrating digital technologies into business processes to deliver value across the organization.
Digital Engineering provides full-lifecycle Digital Transformation services that help businesses accelerate innovation and growth. It involves design and development of applications utilizing latest technology.
Hospital X has patients visiting for various checkups and some admitted. Hospital X has medical staff tending to patients all the time and need strategy to leverage digital transformation of patient health records, test records, billing, hospital occupancy, medical supplies and availability of doctors for critical surgeries.
A big retail company has multiple stores across the country and want to leverage digital transformation for checking their staff efficiency, product consumption, campaign effectiveness, logistic, replacement of expired stock, replenishment of fast consumable goods
An insurance company has many processes to onboard the customer, issue policies, calculate premiums based on customer past data, process claims in case of claims. Insurance company wants to leverage the digital transformation for their paperwork and retain customers
A manufacturing firm has multiple operations to carry out from sourcing raw materials to manufacturing a finished product. Also several components required to produce finished goods should be available in time. For this to achieve the firm needs digital transformation to manage their day to day operations in a smoothest possible way
Financial institution AFT needs a next-generation system to provide complete risk management, reporting, and analytics and governance for multi-asset trading. Failure of risk management processes across the organization has caused significant loss to AFT and needs a solution to manage it.
A logistical firm needs to digitize their supply chain. They need digital systems to track pickup of packages, transport to local warehouses, sorting of packages and finally shipping to destination. They need to track packages at every level and optimize their supply chain expenditure.
Bank AFT is significantly lacking in adding new customers and expanding penetration within existing customers compared with it’s competitors. Lack of digital transformation has been identified as the most important cause for it and it needs to expand its digital foot-print. Bank AFT needs a solution that understands customer behavior, preferences, and demands which should transform it from product-centric to customer-centric solution.