In recent times, organizations purport to undergo unprecedented transformations owing to the adoption of digital technologies. Consequently, there has been a substantial effort in academia attempting to better understand the phenomenon of digital transformation in business organizations. However, a cumulative tradition of research on digital transformation, underpinned by a consolidated theoretical positioning, is compromised by the loosely defined constructs, confusion in terminology and lack of an overarching framework of its nomological net. This paper, therefore, features a systematic review of the assorted and fragmented literature on this notion of Digital Transformation by critically analysing 174 peer-reviewed journal articles published between 2013 and 2021, in over thirty leading academic outlets. The authors provide a consolidated nomological net of digital transformation by synthesizing themes and dominant theories apparent in existing digital transformation literature, which will be useful for future academic studies.