Digital transformation simply implies adapting the strategy and structure of an organization to capture digital technology possibilities. Digital technology is no longer in ITs’ cordoned-off domain; it is applied to nearly every aspect of the value chain of a company. Managers expect a radical disruption of the company’s digital transformation Not surprisingly, many executives expect digital transformation to involve radical company disturbance, enormous new technology investments, a full change from physical to virtual channels, and the acquisition of technology start-ups.

There are some critical myths about digital transformation according to senior leaders of several companies. We missed something is the inevitable result of something good, the ability to find value in many walks of life.

Myth: Digital requires radical disruption of the value proposition.

Reality: It usually means using digital tools to better serve the known customer need.

Some executives think they have to dramatically change the value proposition of their company or risk experiencing a tidal wave of disturbance in order to achieve a digital transformation. Digital technology is now being enforced to nearly every aspect of the value chain of a company. Global trade barriers and inefficiency in international supply chains affect transport expenses of the shipping container company Maersk. There is also a lack of transparency in the industry. Digital tools allow the company partnered with IBM and government to deploy Blockchain technology from a single source for fast and efficient access to end-to-end supply chain data. Understanding that digital transformation does not reverse the reason your company is going to assist you identify the technologies that you should be focusing on. Managers who think digital disturbance needs the core company to be wholesale reinvented end up running in a thousand directions. However, if the challenge is simply to better tackle the work of their clients, they will most probably concentrate on the technologies that have the biggest impact on their clients.

Myth: Digital will replace physical.

Reality: It’s a “both/and.

There is no doubt that digital often allows inefficient intermediaries and expensive physical infrastructure to be eliminated. But that doesn’t imply that the physical is completely gone. In the energy industry, we see something comparable. In their linked home systems, which contain intelligent thermostats and a range of sensors and detectors, several European electrical utilities businesses have efficiently mixed the benefits of physical and digital. 

Myth: Digital is about technology.

Reality: It’s about the customer.

Managers often believe that technology change is mainly about digital transformation. There is, of course, technological change but intelligent businesses understand that eventually transformation is about better serving client requirements, whether through more efficient activities, mass customization or new offerings. 

Myth: Digital requires overhauling legacy systems.

Reality: It’s more often about incremental bridging.

Ultimately, digital transformation may involve radically changing back-end legacy systems, but there are excellent dangers beginning with a sweeping IT overhaul. Smart businesses can create front-end apps rapidly while slowly replacing their legacy systems in a modular, agile manner.

It is about both transforming the core with digital instruments and finding and capturing new digital possibilities. Every company we’ve identified has integrated various digital aspects into its business model, and not all of the modifications have been disruptive or intrusive. The key to success was a focus on client requirements, organisational flexibility, regard for incremental change and understanding that new abilities and technology need to be obtained and to be protected.