Digital transformation affects all sectors of society, in particular

economies. Companies now are given an opportunity to radically

change their business models by new digital technologies like social
networks, mobile, big data, Internet of things, other innovations like
blockchain. This mostly involves changes of the core business
operations and modifies products and processes, as well as
organizational structures, as companies ought to set up management
practices to conduct these complex transformations. Consequently,
society overall is facing a radical change due to the development of
digital technologies and their extensive implementations of all markets.
To add to the expanded interest from clients, organizations are facing
even harder competition because of globalization and putting strain to
go digital before others do, looking to survive and accomplish
competitive benefits.
The digital transformation phenomenon has been explored widely in
different academic domains, resulting in a crude overview of the field.
What is still unaccounted for is an unmistakable definition for the
digital transformation of business models, a methodology how to
digitize business models, which stages and instruments ought to be
considered and what models and empowering influences exist. In this
paper, there is a framework presented for digital transformation of
business models by analayzing the existing literature and practical
examples.

Multiple definitions of digital transformation can be found in literature.

The concept of digital transformation is formed by the merger of
personal and corporate IT environments and encapsulate the
transformational effect of new digital technologies such as social,
mobile, analytical, cloud technologies and the Internet of Things
(SMACIT) . In a broader sense, digital transformation is presented as the
integration of digital technologies and business processes in a digital
economy. A comparative boundless view sees it as the utilization of
innovation to radially enhance the execution or reach of ventures.
More accurate recognition under the influence of digital
transformations implies three organizational aspects: from the outside,
with the improvement of the client’s experience and the change of his
entire life cycle; on the inside, the impact on business objectives, basic
leadership and hierarchical structures; and in general, when all business
sections and opportunities are influenced, usually leading to completely
new business models.
The depicted idea of digital transformation shows that its multifaceted
nature exceeded the level of past transformations endowed with IT
capabilities, new transformations. This is upheld by the fact that DT is
viewed as one of the real difficulties in all industries lately, without
exception, and even in spite of the fact that organizations perceive its
fundamental significance, they still confront numerous obstacles that
repress them from starting, not to mention profiting by, digital
transformation. They battle to get business profits by new digital
advancements, as contending needs lead the rundown of normal
hindrances. This may be because of an absence of lucidity about the
distinctive accessible choices and components that directors need to
consider in their transformation approach. Fitzgerald et al. (2014)
recommend that a noteworthy minority of organizations have
prevailing with regards to building up the privilege administrative and
mechanical aptitudes to pick up transformational impacts from new
digital innovations. They additionally recommend that extra authority
and institutional difficulties are likewise looked by businesses today.
Authority challenges incorporate an absence of criticalness, vision and
bearing, though institutional ones are identified with the mentalities of
more seasoned specialists, inheritance innovation, development
weariness and legislative issues. Institutional difficulties can best be
clarified by the way that most innovation empowered transformations
include a specific level of protection from change showed in the
conduct of specific individuals, who decline to acknowledge the new
situation. This social hindrance is frequently thought little of and for the
most part not perceived by organizations.
To conclude, we infer that digital transformation is a more mind
boggling kind of technology enabled business transformation, which
needs to address the vital jobs of new digital advances and capacities
for effective digital development in the digital world. This paper
characterize it as the process through which organizations meet
numerous new digital innovations, upgraded with universal network,
with the expectation of achieving predominant execution and managed
upper hand, by changing various business measurements, including the
business model, the client encounter (involving digitally empowered
items and administrations) and tasks (containing processes and basic
leadership), and all the while affecting individuals (counting abilities
ability and culture) and systems (counting the whole esteem
framework).
2.2 Research Questions and Research Design
In the introduction, the brief literature review provided with
fundamentals of digital transformation. To fill in as a base for a
Roadmap, I examined six digital transformation strategy frameworks
encountered in the literature and shed light on their nature .
Despite the fact that these methodologies make esteemed
commitments, they do not totally cover digital transformation of
business models and don’t determine the digital transformation’s
application. In my contribution, I initiate the digital transformation of
business models and build up a Roadmap including a few stages.
 Based on the problem described and current understanding, we
will answer the following research questions:
 How do businesses define and execute their digital business
transformation strategies?
 What does an organized methodology for digital transformation
of business models resemble?
For our literature review, we applied case study strategies since this
procedure is attractive for portraying and analysing applicable cases in
which grounded-hypothesis can be produced. The authors analysed
existing definitions, methodologies and examples for digital
transformation of business models. We conducted the literature review
to gain insight into current research in digital transformation and
developed a Roadmap for the digital transformation of business
models.
The definition of digital transformation.
Digital transformation is the process of using digital technologies to
create new — or modify existing — business processes, culture, and
customer experiences to meet changing business and market
requirements. This reimagining of business in the digital age is digital
transformation.

It transcends traditional roles like sales, marketing, and customer

service. Instead, digital transformation begins and ends with how you
think about, and engage with, customers. As we move from paper to
spreadsheets to smart applications for managing our business, we have
the chance to reimagine how we do business — how we engage our
customers — with digital technology on our side.

For small businesses just getting started, there’s no need to set up your
business processes and transform them later. You can future-proof
your organization from the word go. Building a 21st-century business
on stickies and handwritten ledgers just isn’t sustainable. Thinking,
planning, and building digitally sets you up to be agile, flexible, and
ready to grow.

As they embark on digital transformation, many companies are taking a

step back to ask whether they are really doing the right things. Read on
for answer What’s the difference between digitization , digitalization ,
and digital transformation?
Digitisation is the move from analog to digital.
Not so long ago, businesses kept records on paper. Whether
handwritten in ledgers or typed into documents, business data was
analog. If you wanted to gather or share information, you dealt with
physical documents — papers and binders, xeroxes, and faxes.

Then computers went mainstream, and most businesses started

converting all of those ink-on-paper records to digital computer files.
This is called digitization : the process of converting information from
analog to digitals.
Finding and sharing information became much easier once it had been
digitized , but the ways in which businesses used their new digital
records largely mimicked the old analog methods. Computer operating
systems were even designed around icons of file folders to feel familiar
and less intimidating to new users. Digital data was exponentially more
efficient for businesses than analog had been, but business systems and
processes were still largely designed around analog-era ideas about
how to find, share, and use information.
Digitalisation is using digital data to simplify how you work.
The process of using digitised information to make established ways of
working simpler and more efficient is called digitalization . Note the
word established in that definition: digitalisation isn’t about changing
how you do business, or creating new types of businesses. It’s about
keeping on keeping on, but faster and better now that your data is
instantly accessible and not trapped in a file cabinet somewhere in a
dusty archive.

Think of customer service, whether in retail, field ops, or a call center.

digitalisation changed service forever by making customer records
easily and quickly retrievable via computer. The basic methodology of
customer service didn’t change, but the process of fielding an inquiry,
looking up the relevant data, and offering a resolution became much
more efficient when searching paper ledgers was replaced by entering a
few keystrokes on a computer screen or mobile device.

As digital technology evolved, people started generating ideas for using

business technology in new ways, and not just to do the old things
faster. This is when the idea of digital transformation began to take
shape. With new technologies, new things — and new ways of doing
them — were suddenly possible
igital transformation adds value to every customer interaction.
Digital transformation is changing the way business gets done and, in
some cases, creating entirely new classes of businesses. With digital
transformation, companies are taking a step back and revisiting
everything they do, from internal systems to customer interactions
both online and in person. They’re asking big questions like “Can we
change our processes in a way that will enable better decision-making,
game-changing efficiencies, or a better customer experience with more
personalisation?”

Now we’re firmly entrenched in the digital age, and businesses of all
sorts are creating clever, effective, and disruptive ways of leveraging
technology. Netflix is a great example. It started out as a mail order
service and disrupted the brick-and-mortar video rental business. Then
digital innovations made wide-scale streaming video possible. Today,
Netflix takes on traditional broadcast and cable television networks and
production studios all at once by offering a growing library of on-
demand content at ultracompetitive prices.

Digitisation gave Netflix the ability not only to stream video content
directly to customers, but also to gain unprecedented insight into
viewing habits and preferences. It uses that data to inform everything
from the design of its user experience to the development of first-run
shows and movies at in-house studios. That’s digital transformation in
action: taking advantage of available technologies to inform how a
business runs.

First, understand what’s possible with digital transformation.

A key element of digital transformation is understanding the potential
of your technology. Again, that doesn’t mean asking “How much faster
can we do things the same way?” It means asking “What is our
technology really capable of, and how can we adapt our business and
processes to make the most of our technology investments?”

Before Netflix, people chose movies to rent by going to stores and

combing through shelves of tapes and discs in search of something that
looked good. Now, libraries of digital content are served up on personal
devices, complete with recommendations and reviews based on user
preferences.

Streaming subscription-based content directly to people’s TVs,

computers, and mobile devices was an obvious disruption to the brick-
and-mortar video rental business. Embracing streaming also led to
Netflix looking at what else it could do with the available technology.
That led to innovations like a content recommendation system driven
by artificial intelligence. Talk about making the most out of your IT
department!
Making call centers and in-store service desks run more efficiently with
digital technology is of course great. But real transformation comes
when you look at all available technologies and consider how adapting
your business to them can give customers a better experience. Social
media wasn’t invented to take the place of call centers, but it’s become
an additional channel (and opportunity) to offer better customer
service. Adapting your service offerings to embrace social media is
another good example of a digital transformation.
But why stop there? As we mentioned earlier, digital transformation
encourages businesses to reconsider everything, including traditional
ideas of teams and departments. That doesn’t necessarily mean
tapping your service reps to run marketing campaigns, but it can mean
knocking down walls between departments. Your social media
presence can encompass service and marketing, tied together by a
digital platform that captures customer information, creates
personalised journeys, and routes customer queries to your service
agents.