The digitalization in any industry helps create new platforms, transform existing business model to a new level, and bring in actionable insights. It also helps to overcome disadvantages like hard cash handling, improve the processing capability and customer experience. Most of the companies are investing and adopting the trending technologies like Artificial Intelligence, IoT, big data, analytics, cloud services, edge computing, and digital mobile payments as part of their digital strategies to boost their sales and improve the user experience.
Digital transformation in enterprises helps to deliver a unified, omnichannel, and ideally, exceptional customer experience; the goal is to achieve a friction-free enterprise. Time, distance, and lack of information have caused friction in the past; technology has solved this friction. NACHA has adopted a new rule to process payments more quickly: the same day ACH (Automated Clearing House). The new service is not only helpful for consumers, but also for companies that benefit from relatively high processing charges.
Data security for all sizes and types of organizations is a key aspect of IT. Data security technologies include backups, data, and erasure of data. Encryption is a key measure of data security technology where digital data, software or hardware, and hard drives are encrypted, and unauthorized users and hackers cannot read them. In addition, Osterman Research recently found that 57 percent of the companies reported finding and recruiting talented IT security personnel is the major problems for IT security. This presents a further complication as digital transformation efforts move more data and systems to the cloud and sophisticated cyber attacks
The unique controls and services used in the cloud to enable integrated data visibility, increase the challenge. To address such issues, organizations must step back before deploying such cloud services. The associated risks with these technologies have to be addressed to create an inclusive security strategy. The workforce needs to be provided with appropriate training and continuous learning to develop the knowledge and skills needed to maximize the impact of the required digital transformation.