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TOP 5 RISK IN DIGITAL TRANSFORMATION BUSINESSES MUST KNOW

 When it comes to digital transformation, there are a number of risks that organizations need to be aware of. By not taking into account the potential risks, companies can end up making costly mistakes. In this blog post, we will take a look at the top 5 risk in digital transformation.

What are the areas where digital transformation efforts can encounter risks?

There are certain areas where the process of digital transformation is more likely to get risks.

Multicloud or hybrid cloud infrastructures

As digital transformation initiatives pick up steam, many organizations are looking to multi-cloud and hybrid cloud infrastructures to give them the flexibility and agility they need to compete in the marketplace. However, this shift can also introduce new risks, particularly when it comes to governance of the cloud environments. 

The most frequent risks we see here involve a misconfiguration of security settings, and insufficient detection. Besides, the risks also relate to response capabilities, and lack of visibility into activity across virtual machines and cloud services. 

To address these risks, organizations need comprehensive governance frameworks that cover all aspects of their cloud deployments. Otherwise, they may find themselves struggling to keep up with the pace of change.

Digital supply chains and sales channels

One of the most vulnerable areas is the supply chain and sales channels. Here, a lack of clarity around a multichannel strategy can introduce a number of risks. For example, if a company decides to move completely to a digital sales channel, there may be a lack of strategy to enable the shift by the partner, customer, or consumer on the other end. This can lead to disruptions in the supply chain and a loss of business. 

Additionally, if there is only one sales channel, it leaves the business vulnerable to changes or disruptions in that channel. As such, businesses should carefully consider their digital transformation strategy that minimizes the risks and smoothens the transition.

Read more: https://magenest.com/en/risk-in-digital-transformation/

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