The “transformation” means that digital usages inherently enable new types of innovation and creativity, rather than simply enhance and support traditional methods. A common misconception is that digitalization essentially means the usage of more IT, in order to enable and take advantage of digital technology and data. Where digital transformation, expanding to more holistic views on business and social change, horizontal organizational and business development, as well as IT. It includes, but also means going beyond “paperless” to reaching true “digital business maturity” affecting both individual organizations, government, ecosystems and whole global economy.

Digital transformation is a major challenge and opportunity. When planning for digital transformation, organizations must factor the cultural changes they’ll confront as workers and organizational leaders adjust to adopting and relying on unfamiliar technologies. Digital transformation has created unique economic challenges and opportunities, as organizations must contend with Startups competitors who take advantage of the low barrier to entry that technology provides and with digitally native multinational organizations including Apple, Google, Facebook, Amazon, Microsoft and the likes, that have digital DNA, extensive resources and reach that they are using to expand their business to new industries. Additionally, due to the high importance given today to technology and the widespread use of it, the implications of digitization for revenues, profits and opportunities have a dramatic upside potential for everyone.