Digital Transformation is the Key to Survival
Digital transformation, frequently mentioned in the business world, means simply changing the way we work and interact with customers through integrating digital technology into all areas of an organisation. Digital transformation also brings with it cultural change. The companies which successfully undergo a digital transformation process challenge the status quo, experiment and are prepared to overcome initial failures.
Digital transformation affects more than traditional positions such as sales, marketing and customer relations. In this period of transition from paper and pen to applications on our smart devices, companies that take advantage of digital technology need to redefine how they do business and establish new relationships with their customers.
There are many reasons for a company to start its digital transformation journey. However, the most common reason is to ensure they survive and ultimately prosper in today’s competitive environment. Therefore, the number of companies that starts their digital transformation journey is increasing each day. According to the Worldwide Semi-annual Digital Transformation Spending Guide, made by IDC, investment on technology and services that enable digital transformation will reach $1.97 trillion by 2022 worldwide.
Additional IDC research, Worldwide Digital Transformation Strategies also tells us that by 2020, 30 percent of G2000 companies will create a capital budget that will account for at least 10 percent of their revenue to implement their digital strategies.
If we look at the statistics in our country more closely, KPMG Turkey's 2019 CEO survey provides us with important findings. According to the research made with nearly 1300 CEO’s from 11 different countries, including Turkey, disruptive technologies are revolutionising the traditional business models. The CEOs also made peace with the fact that they can only survive if they transform. This is supported by the fact that CEOs, who say that they will lead the transformation in the sector by changing their business models, constitute a vast majority at 92 percent.
We also see the benefits of digital transformation in our customers who digitise many operational processes with our Panasonic TOUGHBOOK products and applications developed specifically for them. I am confident that we will see gaining competitive advantage from their digital transformations begin to increase rapidly in the near future.