WTC Mumbai invited Mr. Sandeep Raut, Founder & CEO of Going Digital, to speak at an interactive session on ‘Demystifying Digital Transformation’ organized in collaboration with the All India Association of Industries (AIAI).

During the session, Mr. Raut emphasized that "going digital is the only way" and warned that companies slow to adopt digital transformation risk becoming obsolete. He highlighted the disruptive power of technology, noting that over half of Fortune 500 companies have disappeared since 2000 due to their reluctance to embrace modern technologies. Mr. Raut explained the differences between digitization, digitalization, and digital transformation, stressing that while the former two involve limited use of digital tools, digital transformation requires a fundamental shift in business models using cutting-edge technologies.

He outlined the three key pillars of digital transformation:

1. Customer Experience – placing the customer at the core of the transformation journey,
2. New Business Models – creating innovative ways to deliver value, and
3. Operational Optimization – enhancing efficiency through technology.

Mr. Raut highlighted that successful digital transformation can reduce business expenses by up to 30% and increase revenue by 20%. However, he pointed out that 70% of companies fail in their digital transformation efforts due to poor execution, lack of leadership, resistance to change, and inadequate internal communication, especially among MSMEs. He stressed the need for strong leadership and government policy support to drive digital adoption effectively.

The session concluded with a technical discussion where Mr. Raut showcased case studies on digital strategies, followed by a vote of thanks from Capt. Somesh Batra, Vice Chairman of WTC Mumbai. The event was attended by MSMEs, startups, entrepreneurs, and business executives, highlighting the growing importance of digital transformation in today’s business landscape.

In Photo: Mr. Sandeep Raut, Founder & CEO, Going Digital addressing the participants.