Digital Innovation

Digital innovation initiatives can include:

Developing a new technology strategy in an existing business context Choosing to adopt and implement new software or platforms Deciding to evolve from analog to digital processes Because the global marketplace is becoming more digital, businesses must also evolve in order to stay competitive.

Companies that innovate and transform see a number of benefits, such as:

Streamlined business processes that come as a result of automation, SaaS, and other integrated technology solutions Digital solutions that cut costs, improve ROI, and boost revenue A competitive advantage Though digital innovation has its benefits, it also has its downsides.

Many business leaders are afraid that innovation could damage their core business. While fear of change is understandable, it can also hinder growth. There are numerous stories of businesses that failed as a result of their reluctance to innovate.

Technology is disrupting industry after industry, and this disruption is only set to continue. https://www.walkme.com/glossary/digital-innovation/