Linkedin’s e-learning platform Lynda.com describe Digital Transformation as ‘The process of adapting existing business practices to new digital methods to increase efficiency and keep up with rapidly-changing market demands’. This can apply to almost any area of a business and with this week being ‘Customer Service Week’, we thought we’d look into how companies can up their CX game as part of their digital transformation strategy.
Digital Transformation is no longer an option for businesses, it’s a necessity in order to survive and compete in such a face paced and constantly changing landscape. Surprisingly though, many companies are still yet to switch to digital. IDC’s State of Digital Business Report revealed that 47% of companies haven’t started their digital transformation yet – while 59% are worried that it might already be too late for them. Those who have invested their time and money into digital strategies though are already beginning to reap the rewards; a study at MIT found that companies that have embraced digital transformation are 26% more profitable than their peers.