Digital Transformation Starts One Step at a Time


Every business should jump at the opportunity to improve and transform, especially when there are great rewards to reap, and when not doing so could be harmful. The never-ending advancement of technology presents enterprises with countless promising opportunities for every aspect of their business.
Digital transformation is the profound transformation of business and organizational activities, processes, competencies and models to fully leverage the changes and opportunities of a mix of digital technologies and their accelerating impact across society in a strategic and prioritized way, with present and future shifts in mind.
Digital transformation reshapes every aspect of a business. As digital technology continues to evolve, I believe that successful digital transformation will require careful collaboration, thoughtful planning, and the inclusion of every department.
A digital transformation strategy aims to create the capabilities of fully possibilities and opportunities of new technologies and their impact faster, better and in more innovative way in the future. A digital transformation journey needs a staged approach with a clear roadmap, involving a variety of stakeholders and internal/external limitations. This roadmap takes into account that end goals will continue to move as digital transformation de facto is an ongoing journey, as is change and digital innovation.
The five Travelex tenets
Focus on long term enterprise value creation.
Pursue potential growth opportunities across the send segments
Willing to be disruptive and innovative in our approach with business models.
Aim to build large user bases of customers using our products.
Invest in a range of different areas and initiatives. Some won’t work, and that’s ok.
Some companies climb step three with us first, and then go back a step or two. But just as your transformation strategy is unique, so might your journey be. Your may also start on another step, but to maximise your potential, revisiting step one and climbing to the top, will get you there in the best condition.
1. Create a customer-centric vision
2. Assess your organisation’s ability to deliver on the strategy
3. Create the right value for your customers
4. Find your position in the digital eco-system
5. Measure success