Digital transformation (DT) has emerged as a central and strategically relevant research phenomenon in information systems (IS) and related disciplines. As a result, a significant body of research on the DT phenomenon has accumulated in recent years. However, while existing research highlights the processual nature of the phenomenon, our theoretical understanding of DT processes remains fragmented. Against this background, the present study sets out to take stock of and critically review the IS literature on DT processes. To do so, we build on previous research to conceptualize DT as a network of interrelated processes, and draw on two conceptual frameworks from outside IS to guide our assessment of the current state of research. On this basis, we define a set of three review criteria, with a particular focus on (1) the specific DT processes studied and their interplay, as well as both (2) the styles of and (3) the time-related considerations involved in DT process theorizing. We then use these criteria to assess each study in our sample of 48 studies published in premier IS journals. The results of our critical review contribute to prior research by providing context-specific insights into the network of DT processes, as well as by highlighting key shortcomings in our understanding of this network along with numerous opportunities for ‘stronger’ DT process theorizing. Moreover, by linking the identified shortcomings and opportunities, we propose a set of six promising directions that equip IS scholars with actionable guidance for future research on DT processes and related theorizing efforts.