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How digitalization will drive online collaboration

Digitalization is no longer an option, but rather a process of adaptation that all businesses must undergo if they want to survive.

By Axel Schmidt | Updated on November 07, 2017
In this new and changing digital scenario where competition is increasingly intense and unpredictable, businesses must be prepared to proactively adapt. (Image: Shutterstock)

Digitalization is no longer optional, but rather a process of adaptation that all businesses must undergo if they want to survive. Many businesses around the globe have already found themselves in the midst of a large transformation process. They are updating their departments to achieve digital maturity, allowing them to optimize costs and increase productivity. In fact, the International Data Corporation (IDC) anticipates that in 2017, the worldwide expense in digital transformation technologies will be more than $1.2 trillion – a 17.8% increase from 2016.   

One of the more direct consequences of digitalization is that the general business environment has become more volatile. IDC defines digital transformation as “the continuous process by which enterprises adapt to or drive disruptive changes in their customers and markets (external ecosystem) by leveraging digital competencies to create new business models, products, and services.”

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