7 digital transformation myths

A successful digital transformation can deliver significant rewards. But these common misconceptions can undermine your company’s ability to achieve desired results.

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Digital transformation has the potential to be, well, transformative; when done right, a digital transformation can enable your business to reap significant, and well-documented, benefits. But with many things IT, there comes a tendency to get wrapped up in the hype and not think through the hard truths of execution until the promise doesn’t live up to the expectation.

And of course, the underlying concepts and strategies of digital transformation are not new. The idea of rethinking of how an organization uses technology in pursuit of new revenue streams or new business models has been central to business “since we started to put corporate records and transactions on computers in the 1970s, and it continues to build and accelerate in the transformative age of digital today,’’ notes Michael Kanazawa, Americas advisory leader of innovation at Ernst & Young. For those who have been continuously innovating and leveraging new technologies, there is no hype, he adds.

“There is a constant push to innovate business as fast as new technologies enable breakthroughs in value and business performance, and that’s a journey,” he says, “not a moment in time to be ‘hyped.’”

Here are seven myths about digital transformation from industry experts and business and IT leaders.

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