Future Banking: A Literature Review

The purpose of this paper is to assess the efficiency of the general banking industry in Indonesia on the use of digital banking and digital transformation. This paper is a research paper with quantitative methods and uses primary data collected by researchers using questionnaires. As for the data analysis method with PLS software SmartPls. The respondents were employees of commercial banks consisting of ten Islamic commercial banks and eleven conventional commercial banks. Findings - Investigative findings show that the banking industry in Indonesia is generally on a trend of increasing efficiency after implementing digital banking and digital transformation. And Financial Innovation does not moderate digital banking and digital transformation towards efficiency. This study provides a basis for regulators and bankers to improve efficiency in the banking sector by improving services to customers through the application of digital banking and digital transformation in order to improve banking performance. Originality/value – This paper presents new empirical findings on the state of efficiency of Commercial Banks in Indonesia after using digital banking and digital transformation.

Current research lacks in-depth insights into the digital transformation management of supply chain (SC) processes in small- and medium-sized enterprises (SMEs) from an intrafirm level perspective. Therefore, the aim of this article is to investigate how SMEs strategically and organizationally manage the digital transformation of SC processes to ascertain the reasons for the low penetration of digitally transformed SC processes. To address the challenges arising from digital transformation, we conduct a multiple case study with 15 highly knowledgeable stakeholders from seven companies within the German manufacturing industry using semistructured interviews. Our findings are varied and indicate that explicitly formulated digital SC strategies are absent in SMEs, but companies use three different approaches to digitally transform their SC processes. Accordingly, the article reveals how these approaches are organizationally implemented and explains the barriers impeding further digital SC process transformation in SMEs, such as insufficient attention by upper management, uncoordinated initiatives due to uncertainty, and inadequate operational capabilities. In addition, the article confirms the link between the creation of transparency and organizational structure. Consequently, this article is one of the first to enhance the knowledge of digital process transformation by examining the existing core transformation principles of SMEs, developing a bottom-up implementation model, holistically analyzing barriers, and necessary prerequisites to the digital transformation of SC processes, providing in-depth managerial implications, and laying the foundation for further research endeavors.

SummaryThis paper provides some basic definitions associated with digital transformation in organizations and applies those definitions to accounting, electronic commerce, and supply chains. I also drill down on the dimensions associated with digital transformation, including digital everywhere, integration (across applications and with customers and partners), and the need to reengineer processes. I examine several examples of processes ranging from digitization to digital transformation. I also examine the role of people in digitally transformed organizations and some technologies that are important to continued evolution of digitally transformed organizations. Further, we explore a number of scenarios of digital transformation. Finally, these investigations result in the determination of a number of emerging research issues.

People believe that the way we live and work will be transformed—digitally transformed. The proactive attitude toward such change is to be prepared, meaning, it is a very relevant issue to ask for the required competences which enable a person not only to cope with the digital transformation but maybe even to shape and steer it. For the project management community, this raises the question of how the well-elaborated project management competences match with the ones required for the digital transformation. On the one hand, we expect projects to be a major tool for shaping the digital transformation, on the other hand, we expect the way we do projects to be digitally transformed. Besides that pull effect caused by the obvious need for projects and the digital transformation, there is a possible push effect since the project management community could transfer their elaborated and proven view on competences (for project management) into the new domain of the digital transformation. This contribution attempts to structure the topic “competences” with the ambition to document what consequences the digital transformation has for our dealing with competences and what our elaborated systems of competence models, etc., can provide for the definition of the relevant competences for the digital transformation. By defining structures and terminologies, the foundation for a continuous development and iterative refinement of a competence baseline for the digital transformation is laid.

The article provided insights into why local government and service delivery must be rethought in light of digital transformation. It exposed the significance of digital transformation in solving local government and service delivery challenges. The article followed a qualitative research approach. It employed document analysis and literature review as data collection instruments. It argued that digital transformation can help local governments in South Africa fulfil constitutional obligations and meet policy goals. It demonstrated how digitally transformed local government can solve service delivery problems through the deployment of digital technologies that improve decision-making, cut costs, streamline operations, and offer efficient services. The article revealed that the digital divide, lack of technical expertise, data security concerns and resource constraints are some of the challenges that can affect the digital transformation of local government and service delivery in South Africa. These challenges must be resolved for digital transformation to play a significant role in improving the effectiveness of local government in service delivery. The article recommended that local governments in South Africa digitally transform in ways that foster equality and deliver local government services to all citizens. The article contributes to scholarship advocating for public sector innovation broadly, and specifically, illustrates the criticality of embracing digital transformation of local government and service delivery. Keywords: Digital Transformation, Digital Technologies, Local Government, South Africa, Service Delivery

Can traditional organizations be digitally transformed by themselves? The moderating role of absorptive capacity and strategic interdependence

Corporations are challenged with understanding and evaluating the dynamics that play significant roles in the digital economy. Corporations go through digital transformations to stay relevant in the digital economy. Digital transformation is a highly complex endeavor that potentially impacts the whole corporation. Digital transformation strategy focuses on corporation's journey to achieve the desired future state of being digitally transformed. Since it is very crucial for success in the digital economy, the corporation needs to develop a sound strategy for digital transformation and evaluate it in a holistic approach. To help with decision making on digital transformation, corporations need to measure the cost and benefits of the digital transformation strategic options and their returns on investment. The objective of this paper is to examine relevant dynamics in estimating the benefits of digital transformation strategy while taking into consideration the drawbacks, risks and mitigation plans and develop models for estimating its success under various conditions and scenarios.

Organizations undertaking digital transformation efforts often seriously underestimate the difficulties of initiatives to design a digitally responsive and mature organization. Beyond merely digitally archiving documents and developing a file structure, a digitally transformed organization has transcended the analog-to-digital conversion when digital technologies are at the core of the business model. Organization digital awareness (ODA) is a necessary organizational skill to keep up with the increasing rate of technological change and navigate digital transformation–actions commensurate with long-term organizational investment, rather than adopting digital technology for technology's sake. This study provides a definition of ODA and develops a digital transformation self-awareness model (DXSAM) based on a systems engineering process model combined with an organizational learning model. The findings indicate prior research has identified ODA as a necessary organizational trait for digital transformation, but the concepts suffer from a lack of a unifying framework. Digital transformation models must make explicit accommodation for ODA and incorporate a feedback mechanism to enable adaptation in the digital transformation strategy process.

Emergent of Corona virus at 2019 (COVID-19) has created a significant challenge for global higher education, where most countries had to transform to digital learning in short period of time. This study aims to assess the digital transformation in nursing education as perceived by students of COVID-19. Design: A descriptive correlational research design was utilized. Setting: Faculties of nursing in both South Valley and Sohag Universities. Sample: A convenient sample of students had been chosen using OpenEpi Version 3 software. Tool An interviewing questioner covers three parts: part 1, Personal data, and part 2: assessment of digital transformation during COVID-19, and part 3: the ability to compliance with digital transformation. Results: Less than two thirds of study sample were satisfied by the experience of distance learning during COVID-19 pandemic and perceived that faculties of nursing are able to be digitally transformed. Conclusion: There is a highly statistical significant difference regarding learning experience during the pandemic in relation to digital transformation ability, so faculties of nursing has to analyze its situation abilities, resources and facilities needed for digital transformation. Recommendations: Equip the higher education institutions with essential infrastructure, technical support, faculty members and students training, and providing tablets for higher education students that helps to overcome such Covid-19 pandemic.

In the context of the digital era, advanced manufacturing firms exhibit significant synergies between their environmental, social, and governance performance and their cost control in financing. The purpose of this paper is to design an endogenous digital transformation method for manufacturing enterprises and evaluate their digital transformation capability using the entropy weight model. To analyze the relationship between digital transformation and an enterprise’s ESG performance, regression equations are used to collect data. The proposal and demonstration suggest analyzing the synergistic effect between enterprise ESG performance and financing cost control in this manner. The comprehensive ability of digital transformation of manufacturing enterprises shows a steady increase between 2018 and 2023, and the brush transformation ability of most enterprises is measured between 0.064 and 0.076. After fixing industry and time effects, a one-unit improvement in corporate digital transformation is associated with a corresponding rise in ESG performance of 0.0622. Lower financing costs can be achieved through better ESG performance of advanced enterprises that have been digitally transformed. The regression analysis proves the hypothesis that ESG performance is negatively correlated with financing costs. In summary, advanced manufacturing enterprises can achieve more efficient and greener development through digital transformation, and enhance their sustainability capability.

Digital transformation efforts as part of the Fourth Industrial Revolution promise to revolutionize engineering practices. However, given the multitude of technological choices and the diversity of potential investment decisions, many engineering entities are slow and haphazard in their adoption of digital innovations and fail to meet the expectations set for digital engineering and digital transformation. In this study, we analyze the literature on adoption, including a systematic literature review on adoption theory and a characterization of where the research is focused. We introduce the term strategic adoption to represent adoption associated with not a single innovation but rather a digitally transformed and hyperconnected set of innovations in a digital ecosystem. From the analysis of 22 adoption theories/models and 178 adoption factors, we introduce twelve strategic adoption influencers and make recommendations for their use in accelerating the strategic adoption of digital innovations leading to digital engineering transformation. We discuss the theoretical and practical considerations for strategic adoption influencers and suggest future research directions.

With the increasing digital transformation, work tasks are changing-in some cases, significantly. Our study addresses the question of whether the established criteria for work design are still sufficient or if they should get updated and additional criteria become necessary in the context of digitalization. In a multistage consensus process involving interdisciplinary groups of experts, we have identified specific criteria for the humane design of work in a world increasingly permeated by digitalized work tools. Starting with an expert workshop using a combined nominal group/focus group technique, followed by a real-time Delphi study, a content analysis and a five-stage peer comment process, we detected 13 criteria and 38 design guidelines for human-centered work in digital transformation. Mapping these with established criteria, it became apparent that some established criteria have experienced a new dynamic because of the digital transformation. For other criteria, a need for digitization-sensitive design is discernible. In addition, criteria have emerged whose necessity is rooted in the digital transformation. A diffusion and stronger interconnection of the various levels of the work system in connection with the digital transformation of work is apparent.

The study examines how leadership adaptability and technology readiness influence digital transformation and strategic agility, including the moderating role of technology readiness. The study used an explanatory cross-sectional design. Data were collected from 509 managerial-level employees in Ghana through purposive sampling. The study employed both descriptive statistics and PLS-SEM to test the study's hypothesis. The results reveal that leadership adaptability positively influences both digital transformation and strategic agility. Also, Technology readiness significantly enhances digital transformation and strategic agility. Furthermore, technology readiness strengthens the relationship between leadership adaptability and strategic agility, but does not significantly moderate its effect on digital transformation. These findings highlight the importance of adaptable leadership and technological preparedness in achieving agile and digitally transformed organisations in today’s dynamic business environment. Based on the results, organisations should prioritise leadership development programs that improve adaptability, particularly in the context of digital transitions and strategic responsiveness. Also, future research should investigate the influence of contextual factors, including industry type, organisational size, and cultural dynamics, on the relationship between strategic agility, technology readiness, and leadership adaptability.

In the context of a strong national push toward the growth of the ""digital economy"", traditional manufacturing companies are increasingly turning to new digital technologies for their digital transformation. This paper aims to investigate the suitability of using a financial performance evaluation system for assessing the success of digital transformation strategies employed by these enterprises. The application of principal component analysis in digital transformation enterprises involves repeatedly selecting the main indicators in the financial performance evaluation index system of manufacturing enterprises. Finally, a financial performance evaluation index system suitable for analyzing digital transformation enterprises is constructed. The differences in financial performance before and after transformation are analyzed, and a comprehensive evaluation and comparative analysis are conducted on the financial performance of digital transformation enterprises and non-digital transformation enterprises. The experimental results show that the average growth rate of total assets of enterprises is 7.07%. The average growth rate of operating revenue is 20.99%. The standard deviations are 17.42% and 235.9%. There is a significant difference between the maximum and minimum values of these two indicators, indicating that the average dispersion of these two indicators is relatively high. In the initial phases of digital transformation implementation, enterprises that adopt digital technology experience a certain level of profitability improvement, as shown by the results. Compared to businesses that have not undergone a digital transformation, digitally transformed enterprises possess greater advantages and flexibility in digital operations. Digital transformation has important theoretical and practical value in improving the financial management level of digital transformation enterprises.

Digital technologies are now imperative for markets and society, and digital transformation is becoming a key area of business innovation. However, digital transformation is complex, and firms still lack the abilities to fully grasp and exploit its opportunities. This study investigates how digital technologies are currently implemented by companies. In particular, since digital transformation can reshape the traditional process of value creation in which marketing is primarily involved, the article analyses the impact of digital transformation on traditional marketing, including its role, organisation, and instruments. The study conducted qualitative research in the form of in-depth interviews with managers working for companies operating in different Italian industries. The results show that digital technologies are widely used by firms, although they often belong to the category of traditional tools, and companies are more ‘digitalised’ than ‘digitally transformed’. Digital technologies impact marketing by improving the abilities of market analytics, pricing, and channel management and helping to build relationships with clients to achieve value co-creation. Professional skills are variously augmented, while organisational processes are becoming more effective and flexible through the use of multiple knowledge and cross-functional experiences. Research and managerial implications are discussed in light of the main barriers and risks involved in the implementation of digital transformation.