DIGITAL TRANSFORMATION

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Business leaders are continuously looking for a transformation of business by revamping their business strategy, models, and operations by adopting the latest digital technologies. This fast-tracks sales and growth of the business from end to end. A digital transformation journey moves an organization from a process-defined world to a data-driven world.  In a finer sense, "digital transformation" may refer to the concept of "going paperless", and reaching a "digital business maturity", shrinks down the processes that a business currently does and automates the work people were doing and helps to turn the process into the software.  

Digital Transformation has to be built from the ground up. It starts with replacing paper-based processes but it must gone much further. Digitization is the platform to create the business innovation and customer engagement for success. In its 2017 CIO Agenda, Gartner found the banking CIOs lagged behind other industry leaders when it came to investing in Digitization. The company recommended that Financial Services firms should dedicate as much as 40% of their IT budgets to Digitization by 2018. We can be certain that consumer demand will continue to grow and competition will continue to accelerate through digital-only financial service providers. Perhaps Gartner’s estimate will yet prove to be too conservative.