Digital Transformation
Digital Transformation is one of the strongest drivers for competitiveness, innovation and change in our modern economy. The digital landscape has changed, and continues to change, our lives – the way we socialize, work, shop, search for information, and communicate. It enables all forms of innovation, from social to organizational to technological. Digital technology boosts businesses efficiency and competitiveness in the global market.
The global business landscape has changed. Recent developments like cloud computing and social networks, are enabling dynamic new and smaller companies to develop and bring to market innovations that before were too expensive to even contemplate.
Small and midsize enterprises (SMEs) will grow exponentially when they embrace the idea of Digital Transformation. However, SMEs, which account for a substantial amount of an economys growth and employment, seem to be plagued with the combination of a limited understanding of the digital landscape and its potential, and a limited budget for digital resources, which include experts who can bring them to the next stage of growth.
The first step for SMEs to embrace Digital Transformation is to establish a visible presence across the digital landscape – the web, mobile, tablets, social media. However, such a presence is necessary for an SME, but is not enough. There are millions of companies competing for visibility and for attracting the interest of potential clients.
The good news is that new business trends are emerging. The competitiveness of SMEs increasingly depends on their capacity to connect better and do business with larger enterprises, to integrate value chains and thus become international business partners. Smart use of digital technology can help SMEs achieve this.
Written by Mojo Transformation