A: The most important element of a digital transformation strategy is clear communication across your organization. Every sector of your business needs to understand what digital transformation means for the entire company, individual business units, specific teams, and each employee. Every person needs to work toward the same goal. Miscommunication or lack of buy-in between teams can derail efforts.
For some companies, financial investment in digital technologies can be a challenge. Fortunately, digital transformation is a business strategy that all but guarantees a strong return on investment.
Specific industries — the financial sector, for example — may also have specific regulations that need to be considered as they roll out new business models and digital tools.