How To Successfully Scale Your business Using Digital Transformation
Why is it necessary to scale your business using digital transformation? Most companies, from start-ups to scale-ups to legacy companies, focus on how to scale their business by leveraging digital transformation. Established companies are finding it necessary to embark on a digitalization journey, not only because of competition from incumbents but also because of new competitors entering the market with innovative new digital technologies at a rapid pace. This may be a lot more achievable for larger companies who have bigger digital budgets, but for those startups and smaller-sized enterprises, implementing digitalisation can be a real challenge. Another reason for undertaking such a journey is regulatory requirements. This is particularly relevant for certain industries, such as in the FinTech space, the insurer tech space, banking and other financial institutions. Regulators are pressing for established businesses to join the digital revolution. If they don’t implement them, they risk relinquishing their business licence to operate and becoming non-existent.
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