Think of what Uber has done to the taxi business, or what Airbnb is doing to the world of hotels. These are just a couple of high profile examples of a phenomenon called digital transformation which is shaking up every industry from automobiles to accounting. 

Digital transformation is the method by which technology improves a business process or boosts performance. However, the reality of digital transformation is much more powerful than that definition would suggest. Today, digital transformation is all about the idea of disruption and the leading role that technology is taking in modern business.

It’s easy to spot the big enterprises that are being transformed by technology (who uses a travel agent these days?), but SMBs are wise to consider how their industries may soon be disrupted as well. Who would have predicted 20 years ago that a local restaurant chain could become reliant on services like OpenTable to manage reservations? And if that chain fails to utilize social media outlets like Yelp and Facebook, it will quickly suffer the consequences in lost business. For a family establishment that just aims to stay afloat, one social-media-savvy server (or an intern) could keep abreast of such tasks. But a growing business needs to approach these opportunities more seriously, perhaps employing a professional social media manager or even a team.

To read this article in full or to leave a comment, please click here