Digital transformation is one of the most critical aspects of business today. It can mean the difference between success and failure. It can be a complex process at times, but it is necessary for businesses that want to stay competitive in today’s economy.
According to a report available at contino.io/insights/top-20-dx-innovators, some business leaders across Europe have been able to lead their companies through the digital transformation process and have been relishing their successes.
Digital Transformation in the UK
In Contino’s report, Neil Drennan, Chief Technology Officer, 10x Future Technologies, commented on how they could achieve digital transformation, saying: “Anyone can build an app. The secret is building a highly scalable, fault-tolerant, secure system that can evolve at a pace. It is essential to invest in your enabling teams, think big but start small and consider whether to partner or build”.
He achieved digital transformation by transforming how banks are built with hyper-resilient, future-proof banking services on-demand.
As a result of Neil’s investment in resilient architecture and team enablement, the organisation was able to evolve rapidly, hiring 180 new staff members during 2020. He helped create a new platform that enabled technological bottlenecks for clients to be removed, allowing them to release new business models orders of magnitude quicker and at a reduced cost.
Digital Transformation in Germany
Germany is also a leader in digital transformation, with a lot of businesses already embarking on or have begun a digital transformation initiative.
Like the UK, Germany has a well-developed digital infrastructure. The country is home to some of the world’s leading tech companies, and its telecommunications network is one of the most advanced in Europe.
AI, machine learning, automation, and other emerging technologies are increasingly being used in digital business services and solutions, commonly deployed across hybrid clouds and via software-defined networks that enable safe edge computing.
According to Business Wire, digital services provide various advantages that have prompted German businesses to prefer them over less digitalized options. These include guaranteed service performance, automated customer engagement, predictive analysis, and sustainability.
In the German retail and banking industries, digital transformation frequently entails the use of virtual assistants and chatbots and highly automated and distributed customer experience services.
Remote agents can offer these services in safe areas, including employees’ homes, using new techniques such as enhanced environmental monitoring.
Digital services also assist German companies in meeting sustainability and decarbonization targets, which are becoming increasingly crucial as prospective tax rises and regulatory concerns loom on the horizon.
These may include consulting and advising services, monitoring, dashboards, and, in some situations, more significant projects like sustainable energy supply systems or new office arrangements to lower carbon footprints.
Challenges Facing Digital Transformation in the UK and in Germany
Businesses face several challenges as they embark on digital transformation, both in the UK and in Germany.
One of the biggest challenges is finding the right talent. There is a skills shortage in many areas of digital transformation, making it difficult for businesses to find the staff they need to implement their initiatives.
Another challenge is that digital transformation can be a complex and costly undertaking. Businesses need to contemplate their goals and objectives and the resources before embarking on a digital transformation initiative.
Another problem is the lack of standardisation across several sectors, making it hard to embrace innovations.
Finally, there is the risk that businesses will not see the full benefits of digital transformation if they do not implement it properly. This means that businesses need to ensure that they have a coherent plan and strategy before starting.
Digital transformation is an ongoing process and businesses need to be prepared to continuously adapt and strengthen their strategies as new technologies and trends emerge.
Despite the challenges, digital transformation is essential for businesses that want to stay competitive in today’s marketplace. By investing in digital technologies and processes, businesses can create new opportunities and improve performance.