Digital transformation reimagines business for the digital age. It involves using digital technologies to innovate or modify business processes, culture, and customer experiences. Integrating digital tech into all aspects of a business fundamentally changes its operation and value delivery to customers.

The pandemic underscored the importance of digital transformation for business survival. Adapting quickly to disruptions and shifting customer expectations became critical.

Stages of Digital Transformation:

  1. Modernization: Simplify and digitize existing processes, like automating HR tasks or reengineering core operations.
  2. Enterprise-wide Transformation: Enhance operations and create new value opportunities, such as integrating physical and digital retail channels.
  3. New Business Creation: Expand existing value or create new sources, like adopting subscription models or using data analytics to predict product performance.

This information is part of the SASSI LLC training materials. For more details, visit the Guide to becoming an Olderpreneur on the SASSI Hub.