Some thirty years back, one could make a distinction between digital transformation and business transformation. The traditional operation model was high up on the scale, and digital technology was not widely embraced or even understood. However, this is not the case in recent times. As you read on, you will discover that both of them now play interchanging roles, such that one cannot define one term without the other.

What is digital transformation?

Digital transformation is synonymous with applying digital technologies for set goals, ranging from risk management, exploring new revenue-generating opportunities, or improving efficiency, value, and innovation.

Digital transformation is often directed towards a system, like a business, for instance. This means that the business will adopt the use of technologies to facilitate turnover, increase customer value and global awareness of the brand, and enhance workflow processes. Hence, digital transformation in simple words, can be referred to as digital solutions.

What is business transformation?

Business transformation is changing parts or the whole of a business to optimize turnover, efficiency, effectiveness, and satisfaction. This pegs the types of business transformation down to two - transformation relating to parts or whole.

Transforming a part of the business involves making changes to a few departments, like marketing or HR. While transforming the whole business involves changes in management, processes, people, technologies, and other branches that make up the business.

The business transformation process is carried out for a lot of reasons:

- To better align the company with its business strategy and vision
- Introduction of new technologies
- Shifts within the market
- Low profit and turnover
- Merger and acquisition
- Management reshuffling
- Stakeholder satisfaction

Is business transformation different from digital transformation?

As earlier mentioned, digital and business transformation now play interchanging roles, such that you cannot practice one without the other.
It is important to note that digital transformation within a business is not limited to software applications, which are common examples of business transformation strategy. It also includes social media, websites, and even digital platforms (as popularized recently).

Software applications and websites are tailored according to the needs and buying patterns of people. When these needs and patterns are communicated to app developers, that is digital and business transformation intertwined.

The use of social media helps businesses gain global awareness, sales, and traction. This way, they are no longer restricted to customers or prospects within their immediate communities, and traditional human effort is used more efficiently.

Digital platforms that deal in gift cards and NFTs are also digital transformation examples that have connections to business transformation. They can help businesses increase their profits, promote international trade, hedge against currency inflation, and promote causes worth millions in the nearest future.

Speaking about digital platforms...

Digital platforms can furnish businesses with foundational knowledge and training in cryptocurrency, gift cards, and NFTs. They should be considered for several reasons:

- There are articles with beginner-friendly tips for getting started in digital investment opportunities.
- Gift cards and NFTs can easily be introduced and exchanged.
- There is a guaranteed offer of a secure wallet, and the app is easy to use and navigate.

In conclusion, combining business transformation and digital transformation practices is the right step in ensuring continuity, innovation, and profitability in any field.