Transforming your company
transforming your company through the use of digital solutions. Every business is undergoing a significant digital transformation. The term “digital transformation” has become ubiquitous over the past few years. Using technologies and solutions to meet the needs of its partners, customers, and suppliers, every business is attempting to establish itself in the digital space. To take advantage of digital opportunities, businesses must also rethink their existing business model. Client assumption is changing quickly because of the accessibility of a tremendous measure of data and dynamic requests. Companies must put in a lot of effort to close the value gap between what customers want and what they can provide, or the entire business runs the risk. The born-digital players are already upending the conventional approach to business. In order for any business to remain competitive or relevant, it must begin to think like them. A platform business model is a radical departure from the conventional pipe business model, in which the operation was linear. If you look at the reason behind the underlying success of these born-digital players, you will discover that they are able to envision their business on a platform business model. The old ways are coming to an end and paving the way for the new ways of doing business. Here, the platform business engages the larger ecosystem of customers, partners, and suppliers and can leverage the underlying value of data through digital technologies. It is necessary for traditional businesses to begin thinking like technology companies. The business’s own imagination must play a role in this. It needs answers to some important questions like: What modifications and enhancements to the business procedure are required? By involving partners, customers, and suppliers, how can the ecosystem aid in the creation of value? To speed up digital processes, what are the current technology gaps that need to be filled? It is essential for businesses to be able to differentiate between digital transformation and digitalization. Digitalization is a silo approach that uses digital technologies to increase productivity and efficiency of the business process without changing the one that is already in place. Although the terms are frequently used interchangeably, they have distinct meanings when it comes to shaping your digital enterprise. At Sonata, we help customers reimagine their business with the help of PlatformationTM and assist them in their digital transformation journey. Digital transformation is a complete transformation of the business through digitalization. Platformation™ is Sonata’s one of a kind way to deal with assistance endeavors to think like conceived computerized organizations with assistance of our restrictive 16-point innovation structure, advanced development studies, and computerized counseling. This assists businesses in becoming intelligent, open, connected, and scalable. It is clear that digital is here to stay, and if your business wants to stay competitive and have an advantage over the competition, they need to start thinking like platform companies. It embodies the complexity of platform development with its proven framework. Digital Transformation: What is It? The business must be completely restructured in order to adapt to digital transformation, as must new and improved business practices. It meets the requirements by utilizing the idea of digitalization. From top management’s commitment to execution all the way down to the lowest levels of the organization’s pyramid, it requires a much more concrete effort. How does digitization work? Digitalization refers to the process of improving an existing business without completely transforming it. It helps cut costs while also boosting productivity and efficiency.