What is Digitization, Digitalization, and Digital Transformation?
Digitization, digitalization, and digital transformation are terms often used interchangeably across the marketplace, while in reality there are several key elements that distinguish these concepts. Despite the differences, companies execute these digital strategies to increase customer satisfaction, improve core operations and grow revenue.
| Digitization | Digitalization | Digital Transformation |
|---|---|---|
| convert non-digital information to a digital instance | optimize process or analytics through digital means | strategies and models leading to a new way of doing business |
| Examples: paper based claims to online based claims, capturing heartbeat on a smartwatch | Examples: process automation to replicate human intervention, product predictive analytics using customer demographics/history | Examples: business model for real-time product customization, shift from sending DVDs through mail to streaming video online |
Several methods and technologies can help enable digitization, digitalization, and digital transformation including:
- business process management (iBPMs)
- artificial intelligence (AI)
- cognitive computing robotics process automation (RPA)
- big data
- predictive modeling/analytics
- external data sharing
- virtual reality
- cloud computing
- blockchain
- mobile technologies
- enterprise resource planning (ERP)
- customer relationship management (CRM)
- internet of things (IoT)
- social media tools
- augmented reality
HOW CAN PCG HELP?
Contact PCG today at 1.800.731.7153 to discuss your Digital Strategy needs and objectives and to schedule your complimentary discovery session.
Digital Capability Assessment:
PCG works with key stakeholders to perform a current-state assessment and evaluates your digital capabilities against industry standard best practices and emerging trends. We take a 360⁰ view of your digital landscape.
- Scope – Work with leadership to determine the scope of the digital assessment. Assessment scope may include areas such as customer touchpoints, product footprint, operational models/processes, technology/platforms, data/content asset management, data integration capabilities, analytic capabilities and competition.
- Evaluate – Perform an assessment to identify and document current strengths, weaknesses, opportunities, and threats across the digital capability assessment scope.
- Report – Provide a digital capability maturity score (by digital capability) and actionable recommendations.
Digital Strategy and Roadmap:
PCG works with organizational leadership to define your digital capability goals, strategies, and future-state roadmap for execution.
- Define – Establish digital goals and strategies based on the outcome of the digital capability assessment (if applicable), industry best practices, and emerging trends.
- Identify – Determine approach, operating models, and technical enablers to address the defined digital goals and strategies.
- Plan – Develop a roadmap of opportunities based on alignment, prioritization, risks and impacts (e.g. customer, product, operations).
Digital Governance Framework:
PCG works with your company to create a digital governance framework that enables progressive and transformative (best-in-class) digital capabilities.
- Define – Create digital governance goals, objectives and primary ownership
- Structure – Develop a governance model/framework with roles and responsibilities. Determine digital decisions that must be governed at the highest levels, and which can be delegated to business and technology units.
- Execute – kickoff initial set of governance meetings to demonstrate the process for digital investment portfolio review, current investment go/no go decisions, and ideation.