Due to the digital transformation taking place across all spheres of business, companies are facing enormous challenges regarding speed and flexibility. A transformation of one's own company is required as a strategic response to the rapid change of existing business models.
Digital transformation has hit every sphere of business; new players are active in established markets and are driving the change of existing business models. The result: decreasing revenues and margins as well as changes in the relations to customers, suppliers and other companies.
This development requires a strategic answer: the transformation of one's own company. And the most important driver and enabler of business transformation is IT. New IT technologies facilitate completely new business opportunities, from market introduction, product development and production to service.
The dynamics and unpredictability of market developments require perpetual adaptation and change. In a world where time to market is the most significant indicator of success, new management concepts such as lean management and agile methods become increasingly important.
The realisation of IT-ready business agility requires new skills along the entire IT value chain as well as new organisational setups and technologies. Therefore, digitalisation should be viewed as an integral transformation initiative.