What is digital transformation?
It is the use of digital technology to radically improve the performance or reach of enterprises. Most major business transformations take place over an extended period of time. However, the digital age is here and if your business does not quickly catch-up with the latest advances, then the likelihood of falling behind your competitors is high. Resistance to change is the biggest challenge often faced by companies. Digital transformation requires a planned, holistic framework that involves technology, processes and people.
How can organizations prepare for digital transformation?
Here are 5 key steps for a successful digital transformation journey:
Alignment of the business transformation strategy with goals
This is the most basic step towards transformation for any business – a transformation strategy must align with organization goals. Did you know that a whopping 96 percent of companies see digital transformation as an important factor for development? Based on the primary focus of your company, adopt suitable technologies that will enhance your business. Popular technologies like AI, cloud solutions, and IoT (Internet of Things) are more likely to be incorporated into businesses.
Investing in apt technology
The trends in technology are constantly varying. Machine Learning (ML) Big data, AI, cloud platforms and Internet of Things (IoT) are the main trending technologies. Big data is leveraged across businesses to have insights into customer preferences and patterns that influence supply chains and inventories. ML is taking data to an advanced stage by automating tasks and processes that previously belonged to the HR domain. Using AI algorithms, intelligent automation is used to adequately predict needs in various business processes. There are multiple options available and businesses must look to invest in technologies that are right for them.
Establish the transformational framework
With the technological infrastructure in place, build a process framework that works best for your company. It is not an astonishing fact that 85 percent of firms have started programs to create data-driven cultures. Usage of data science across departments and sharing information across teams helps to develop an efficient infrastructure. Next is the incorporation of the technology and its assessment. Helping staff understand the reason for the investment in new technology will make it easier to overcome any potential resistance to new processes.
Communicate clearly and frequently
Connect with your team, give priority to their inputs and gather feedback. Turn sceptics into believers with proper communication. The workers who have the right skill sets will trigger the transformation and keep it rolling as the organization implements its digital transformation. Others can improve skills through online up-skilling programs, which aids them to learn at their own pace. Target certain departments with the right skills for training, and establishing a foundation to make training an ongoing process for key roles in the organization. Digital transformations take time and results will be beneficial if the focus is on the right transformational technology. It will improve monetization strategy by raising the skill value of the entire organization.
Continuous re-assessment of adopted strategy
New systems use simple yet strong data structures compared to legacy systems. However, they may require adjustments to how data is mapped. It’s important to constantly adapt your digital transformation strategy to new outcomes, review your journey and question the rate of digital change.
As Charles Darwin once said, “It is not the strongest or the most intelligent who will survive but those who can best manage change”. Adapting to the digital world can be a challenging task, but it is a worthwhile journey to greater success. Investing in new infrastructure is not an easy task, which is why many companies have instead relied on modifying older systems rather than spending the time and money revamping technology.However, a business is only as adaptable as the technology that is its foundation, and technologies like mobile, IoT, and artificial intelligence have amplified this statement.
Your aim is to ease the transformation process by gaining buy-in as early as possible. This may even involve a re-definition of your business culture.Preparing your company for digital transformation comprises a period of self-assessment, goal-setting and mapping out the journey from the starting point to the end result. Consideration of both customer and operational outcomes are important. Constant and early communication with team members and stakeholders are essential. This blog should be a helpful starting point for planning your organization’s digital transformation.
In case you are interested in transformative digital solutions, please feel free to contact us. Our experts would love to hear from you and provide guidance on a digital transformation strategy that will be the right fit for your organization.