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Why are Companies racing toward Digitalization?

Why are companies racing toward Digitalization? To unlock value and improve the customer & employee experience?

We hear about digitalization all the time. You're told that if you don't have digital skills in this new economy, you'll fall behind. It's one of those business buzzwords that you feel you ought to understand better but haven't gotten around to. The complexity and significant undertaking involved in changing the corporate landscape may be the cause.

Simply put, digitalization is the transformation of a business model through the use of digital technologies. This pivot is intended to unlock value, generate new revenue, and enhance the flow of interactions and communications. If done properly, it will benefit both customers and staff.

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According to Matt McLarty, global field chief technology officer and vice president of the digital transformation office at MuleSoft, a Salesforce company, many of the enterprise technology leaders he's been working with have been particularly concerned with data integration strategy.

Whether or not they consider themselves to be "digitally transforming", every organization is looking for ways to take advantage of the opportunities offered by the digital economy. Businesses that want to thrive in the digital economy must alter their data-related perspectives. He advises businesses to embrace complexity by addressing problems one at a time, have a holistic approach to reimagining how business can be brought online and into the digital age, and have mental models of how they see the required changes.

Organizations are under increased pressure to transform themselves in a race. Failure to complete digital transformation initiatives could cost businesses "on average $7 million". Business leaders now demand a corporate-wide application programming interface (API) strategy to unlock data and create connected experiences in order to remain competitive and lead the pack. An API is simply software that allows a user and a website or app to exchange data back and forth.

Businesses are making significant investments in technologies that allow for the automation of repetitive tasks in order to increase productivity and efficiency. The issue is that data and systems are highly fragmented, resulting in a chasm in expectations between partners, customers, and employees (the average digital interaction involves almost 40 different systems). There is a lot of work to be done because only one third of business enterprises' over 800 individual applications or systems are integrated.

1.050 global IT leaders were polled about connectivity and digital transformation by MuleSoft, a Salesforce division and Deloitte Digital. The study found that as more business leaders call for an organization-wide API strategy, IT teams continue to struggle with a mounting volume of projects.

The top integration and API platform in the world is MuleSoft, which offers a platform for connecting data, applications, and devices across on-premises and cloud computing environments. The business facilitates connections between users and the tools, data, and applications required to spur innovation and accelerate change.

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