The Impact of Digital Transformation on SMEs

Decorative image, symbolising transformation in SMEs.

What is Digital Transformation?

Digital transformation (DT) is the process of redefining the entire business strategy by adopting the latest and emerging digital technology in driving the business through strategic plans and organizational change to augment the revenue and provide substantial value.

Digital transformation has a growing impact on Small to Medium-sized Enterprises (SME) business and IT ecosystems. It offers new and prolific opportunities to participate in the global economy. Enterprise Applications Providers, Technology and Infrastructure vendors have realized and capitalized on the power of innovative technologies like Cloud, Big Data, Mobile, Social, Sensors, etc., considering next-gen solutions are being developed with the nexus of these forces.

Expanding internet access and growing smartphone users are bound to change the future of the world economy. Yes, Digital transformation has brought a paramount shift to the traditional ways of manufacturing, handling, storing and transporting things.

Digital transformation lies in leveraging new technologies to ensure scalability and elasticity demanded by customers.

In this modern era of all things digital, it is interesting to note how traditional small businesses have adopted digitization. Let us look at some examples.

Full Article: The Impact of Digital Transformation on SMEs