How to Measure and Improve Digital Transformation ROI
As digital transformation projects increase in scope, demonstrating a compelling return on investment (ROI) is vital for digital transformation teams to earn support and funding for additional digital initiatives. Yet many companies are overlooking ways to measure ROI and improve it over time.
Digital transformation is defined as the innovative application of a new or existing technology that improves or creates a process, product or experience that ultimately drives business value. Digital transformation initiatives typically address several goals, including revenue increase, customer experience improvement, cost reduction and employee productivity gain. Ultimately, for-profit companies want to raise profits, while not-for-profit organizations want to run more efficiently.