Digital transformation means integrating the latest digital technology into all aspects of an organization while streamlining and integrating data flows and software. 2020 has seen a rapid acceleration of these technological integrations into businesses due to COVID-19, which has forced most brands to embrace high-speed digital innovation.
Indeed, enterprises have had to undergo unthinkable levels of digital transformation in just 6 months, which may have previously taken decades to achieve. However, these transformations are powered by specific trends that must be understood to prepare for what’s next.
Organizations that seek to maintain their competitive edge and ensure growth must now adapt to emerging communication and collaboration tools, for example. After all, 73% of CEOs have stated that since the pandemic began, remote working has enabled their organization to widen its available talent pool.
To assist your company’s digital transition, we’ll explore 4 powerful trends that are driving enterprise digital transformation.
Benefits of Digital Transformation
Before getting into the trends, let’s take a look at the why of digital transformation, since some organizations may be hesitant to embrace the latest digital tools for fear that it may fundamentally alter the way they operate.
However, the benefits of digital transformation are clear based on the following lessons enterprises have learned in 2020:
There is Room for Improved Data Collection
Businesses collect massive amounts of data, the real benefit of which is its use in analysis to propel business growth.
Digital transformation demands the use of raw data to gain valuable insights across your numerous organizational touchpoints. This data can give management a singular view of the buyer journey, finance, business operations, and production.
Enhanced Resource Management Is a Must
On average, large enterprises use over 700 custom applications to manage business resources.
This can make it tough for management and employees to utilize data effectively and to carry out business operations efficiently.
Besides adopting the latest tech, digital transformation is also about integrating all databases, software, and applications into a single repository for powerful central intelligence. This eliminates the need for dispersed databases and software that make it difficult for departments to collaborate and for management to get a big picture view of operations.
Enterprises Must Become More Agile
Digital transformation will give your organization an agility boost. For example, in the sphere of software development, brands can improve their agility via digital transformation to enhance speed-to-market as well as embrace Continuous Improvement (CI) techniques like PDSA (Plan, Do, Study, Adjust) and DMAIC (Define, Measure, Analyze, Improve, Control).
4 Trends That Propel Enterprise Digital Transformation
Now that you have an idea of the benefits of digital transformation, let’s explore 4 trends that drive enterprise digital transformation.
1. Hybrid Cloud Environments
For some time now it’s been clear that enterprises are embracing the hybrid cloud infrastructure. From on-premises solutions to Software-as-a-Service applications to a merger of private and public clouds, hybrid cloud strategies enable businesses to satisfy their cloud infrastructure needs.
In recent years we’ve seen huge investments in the hybrid cloud space from major public cloud providers like IBM, Oracle, Google, and AWS. OEM brands like Dell (VMware), Cisco, and HPE have also invested heavily in creating tools that facilitate seamless connectivity between cloud and on-premises data centers.
This is partly about tackling the challenges associated with rapid and massive data growth while ensuring a proactive approach to compliance, security, and privacy.
Even more so, the pandemic has caused global disruptions that have emphasized the need for an adaptable and agile response to emerging market challenges.
2. Increased Cybersecurity
Cybersecurity has always been important, but the pandemic has caused it to take center stage in IT departments worldwide.
Since the pandemic began, hackers have taken advantage of the chaos to broaden their attack campaigns on enterprises globally, with a 600% rise in cyber attacks from January to April 2020 alone.
As more and more employees work from home, organizations must embrace cybersecurity digital transformation by upgrading and expanding their cybersecurity strategies to include the personal devices and home networks of remote staff.
This means that cloud providers and hardware and software makers must also seek to ensure their products are secure enough to combat the rise in security threats that companies have experienced this year.
3. Confidential Computing Over Data Privacy
Confidential computing is another strategy to up your cybersecurity game, especially with data privacy and communications. Confidential computing aims to encrypt all aspects of computing processes (not just data) by creating multiple security layers around valuable information.
Tech giants like VMware, Google, Alibaba, IBM, and Microsoft are assisting in the transformation by creating best practices and new protocols via the Confidential Computing Consortium.
Although this innovation is in its early stages it is set to become mainstream in 2021.
4. Compliance and Governance
With many organizations embracing digital transformation due to the pandemic, regulators are continuing to advance policies that bring industries and countries into the modern information age.
Organizations must know and obey the necessary laws and understand the consequences of non-compliance.
This means the demand for effective IT governance will only grow. Companies will need to be on their toes to continually ensure the necessary security and privacy controls are in place to comply with quickly evolving rules and regulations.
For instance, regulations like the EU GDPR demand specific security and privacy practices when dealing with personal information. There are also tight regulations regarding the storage location of data as well as where it can be processed.
How KloudGaze’s Kompliance Studio Helps Propel Enterprises Towards Digital Transformation
Digital transformation is changing how businesses operate. From improved data collection to enhanced agility, organizations are experiencing both savings and opportunities for increased profitability.
However, without compliance and proper IT governance, digital transformation could have devastating effects on a business, opening organizations to security threats, huge fines due to non-compliance, and/or a tarnished reputation.
KloudGaze Kompliance Studio is an invaluable asset in meeting these challenges head-on. Kompliance Studio is an enterprise SaaS platform that can instantly analyze and map out billions of lines of code across thousands of applications and databases across multiple platforms to identify compliance and security issues before they become a problem.
Find out more about how KloudGaze can help assess and ensure your company’s regulatory compliance by requesting a free trial of our platform. If you have questions about how KloudGaze can help your digital transformation by improving your IT governance and ensuring compliance, contact us here.
Here are the top 4 major trends propelling digital transformations globally and how your enterprise can benefit from them.
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These 4 trends have been propelling enterprise digital transformations globally. Here’s how digital transformation can benefit your organization.