What is Digital Platform Strategy

Digital transformation enables SMEs to reshape their business models to respond to changing consumer needs in today's COVID-19 environment. The aim of this research is to investigate the key factors affecting the success of digital transformation among SMEs in Australia using a qualitative approach. The aspects perceived as important are digital capability and leadership capability. Understanding of digital trends and opportunities as well as strategic directions is a critical factor driving digital transformation. The research findings indicate that the SMEs in Australia are not best placed to leverage digital technology to transform business models, innovate products and services, and revolutionize operations. This research recommends that Australian SMEs embark on digital strategies that enable the transformation and take advantage of digital platform initiatives to employ new business models to boost revenue and improve customer experiences and competitiveness as companies and consumers are moving online and embracing e-commerce and new digital reality.