As we move into the 2020s, it is clear that businesses must enhance their resilience, competitiveness, and responsiveness to grow and thrive. This transformation involves digitizing their operations—from raw materials and initial supply chain stages to meeting customer demands for personalized services and modernizing traditional business models.

A recent McKinsey survey of senior business executives highlights an urgent need to digitalize and modernize processes and legacy systems post-pandemic. The survey reveals that many leaders acknowledge their business models are becoming outdated. Only 11% believe their current models will remain economically viable through 2023, while 64% say new digital businesses are essential for future success.

In today’s business environment, the question isn’t whether digitalization is necessary, but how quickly companies can embark on their digital transformation journey.

source: https://www.sap.com/insights/what-is-digital-transformation.html