Digitization, Digitalization and Digital Journey is a business model’s reshaping roadmap and redefining products, not just for digital companies, but also for “Traditional” industries of any kind
Tech companies are entering different sectors and the variety of different products is increasing. We no longer have the clear delineation of network operators that we had even five years ago.
But it’s not only the digital companies that are undergoing transformation. Old industry is redefining itself and its products in the digital era. If we take the automotive industry as an example: they no longer talk about the technical specifications, they talk about intelligent systems.
Car companies of the future will not sell just wheels, it will sell digital services and applications. The car is being transformed into a digital platform for different services.
Another example of sectors undergoing change is that of banking and financial services. Digital companies as diverse as the hardware manufacturers Apple, Samsung and Huawei, as well as telecommunications companies, have moved into the areas of payment solutions and/or online banking. Organizations are leveraging their digital strength to reshape their own business models, in turn transforming how business is done within and across entire sectors.