Digital transformation fundamentally reimagines how companies operate. It’s not about using digital technologies in a specific business case, but rather embedding digital capabilities all across the organization.

Gloomy rather than blooming – that's the first that comes to mind when you think the retail landscape. The lockdown induced by the COVID-19 pandemic has had a devastating impact on non-essential retailers (especially small businesses), leading to many store closures (eg. 16% of all Zara's stores) and layoffs.

What is the future of digital transformation? Typically, the answer starts with a list of the latest buzzwords and new technologies, but these are only means to making companies resilient and adaptive to the winds of the Digital Revolution. Let’s take a look at the business areas that will require digital transformation, and explore the direction of the necessary changes. 

The pandemic is having a devastating impact on private lives and businesses all across the globe. According to leading research, two scenarios are most likely: a delayed recovery or a prolonged contraction. However the future will play out, we can observe a significant impact on consumer behavior and product demand, as well as on production and supply chains in the retail industry. This text is a motivational letter to the retail leaders that want to leave the economic downturn in a strengthened position, and outperform their competitors.

The Digital Revolution is happening before our very eyes and each business needs to find a way to respond to it. Digital transformation is not an option anymore. It’s a necessity, and for many organizations it might be even a matter of survival. Let's explore what digital transformation means today, why it is so important, what digital transformation project succeeded already, and how you can get started on your digital transformation journey.

Every transformation a company can go through is hard, but digital transformation seems to be the most challenging. According to McKinsey research, only 16% of digital transformation projects will yield sustainable positive results. Therefore it is crucial to understand what effective approaches have in common to increase your own chances to succeed. Let us show you 4 examples of digital transformations that fully realized their potential.

Driving actual innovation in a large enterprise, instead of doing innovation theatre, is hardly a trivial task. So, at Netguru, we’re talking to top experts from various industries to see how they are trying to solve the digital transformation dilemma.

The future of the banking industry? There will be a more dynamic and personalised way of understanding each individual customer based on data and insights. For instance, we will end up with people getting loans approved depending on the type and value of data they’re holding - says Anneli Bartholdy, Strategic Partner at Nordea.

Is there a one-size-fits-all approach for successful digital transformation? Hardly. But there are some key ingredients that we keep hearing in interviews with C-level executives and managers. Among them: high risk acceptance, a high degree of autonomy, and empowered decision-making.

Banks need to transform their infrastructure. But they also must invest in people and build frameworks that enable empowered decision-making. Digital transformation doesn't stop at "digital", says Rita Waite, who, after spending 4 years as a corporate venture investor in the US, joined Millennium bcp, the largest private bank in Portugal.