Digital Transformation - Ernst & Young - United Kingdom

Digital Transformation

Digitisation is a step change even greater than the internet. Exponential technology advances, greater consumer power and increased competition mean all industries face the threat of commoditisation. The winners will act now, and build a strategic advantage that leaves their counterparts wondering what happened.

Today, most companies are either thinking about or pressing ahead with digital transformation initiatives. Every company has a website, and few marketing strategies are signed off without incorporating social media. Certainly, social media is a critical component of any digital strategy, but a holistic response to the digital shift must go much further.

The digitisation of everything is a step change even greater than the invention and adoption of the internet, primarily because of its scale and pace of change. What we describe today as ‘digital’ in a few years time will have no need for the descriptive word. A ‘digital camera’ is already a mere ‘camera’ to those who know no different. In the same way, a ‘digital’ strategy will become business as usual strategy. This is why it is so important to get a head start and learn while there is still time.

Read more about our thoughts on digital transformation:

	The digitisation of everything: How organisations must adapt to changing consumer behaviour 1.5Mb Digitisation is an even greater change than the internet, and its winners will act now to build a strategic advantage that leaves their competition wondering what happened.
	Social media: New game, new rules, new winners 1.8Mb Social media is having a profound effect on the way customers seek information and buy. How can companies take advantage of the opportunities it presents?
	A different way of doing business: Digital in utilities 1.1Mb Digital technology, and the changes in consumer behaviour and expectations it brings, are set to change the utilities sector in fundamental ways.
	Digital data opportunities: Using insight to drive relevance in the digital world 1Mb Digital products and services result in consumers generating huge volumes of personal data, captured by organisations through digital channels or devices.