| |February 20198igital transformation is imperative for all businesses, from the small to alarge enterprise. And this change, as we already know, is inevitable and evolving day by day. This trans-formation, in simple terms, is the integration of digital technology into various ar-eas of business and operations resulting in funda-mental changes to how businesses operate and how they deliver value to customers. Hence, such trans-formation is not only a technology transformation but is a combination of multiple changes including people, processes and technology.In the past 2 decades of technology innovations and transformations, every year brought a new evo-lution in usage of technology be it the discovery of internet, employee workspace changes, evolution of mobile devices, mobile data usage and mobile tech-nologies and evolving data science techniques with AI & cognitive computing.Over the last few years, technology-driven inno-vations have led to disruptions that have gone be-yond technology, dramatically altering paths and ways that were considered traditional. The impacts are deep, driving cultural change that requires or-ganizations to continually challenge the status quo, experiment often, and get comfortable with changing norm. Often we observe legacy systems being replaced with new systems or enhanced with few digital ca-pabilities is also being referred as transformation. However, true transformation in any organization does not take place merely by replacing the core technology stack or by just introducing some layers in enterprise architecture.Successful digital transformation is a collabora-tive effort from cross-functional teams of IT, Busi-ness, Operations and HR teams to achieve financial goals, along with enhanced customer experience excellence. It has cascading effectsspanning impro-vised business and operations processes with the power of digital technology.Driving Digital TransformationThe first step for any transformation program is to set the digital strategy by identifying var-ious opportunities across the organization By Jyothirlatha B., Chief Technology Officer, DHFLDDIGITAL TRANSFORMATION, IN ITS TRUE SENSEOver the last 33 years, DHFL has provided customers with a vast array of home loan products and now has a division that lends to small and medium enterprises (SMEs), furthering its loan portfolio diversification strategy.Jyothirlatha Bexpert opinion
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