When successfully implemented, digital transformation and digitization can be the key to transforming your business. However, you need to take the right approach to get the most from digitization. One of the best ways to facilitate change and ease the transition into digital transformation is to apply a proven formula.
The winning formula for successful digital transformation is: "Vision x Discomfort x Skills". Each factor in this equation is equally important to consider. In this blog post, we'll explore each element and how it applies to digitization and transformation.
A clear vision gives you the ability to identify the best path to take for your business from the start. You need to know exactly where you want to end up in terms of productivity and effectiveness.
Start by figuring out where certain bottlenecks exist in your legacy system and determine how to integrate an intelligent solution to help alleviate those issues. From there, you can determine how to proceed without setting goals that are too unrealistic given your current capabilities.
Also, consider precisely why you want to start your transformation. Maybe you need to adapt more efficiently to increasing customer demands. You may also simply want to innovate and become a leader in your industry through superior technological solutions. Once you figure out the why, you can then consider the how of digital transformation.
Having a team of stakeholders to implement and monitor your progress is essential. The stakeholders will need to track progress and measure the impact of every functionality with each release. Doing so will help you gauge the success of your transformation and allow for continual improvement.
Digital transformation often involves a great deal of change, which can come with high levels of discomfort. In order to counteract this discomfort, a communication strategy and planning is integral to success. Keeping employees informed of upcoming and ongoing changes and improvements will help to ease discomfort.
As time progresses and your team adapts to the new technologies and methods in place, you and your employees will become increasingly open to change in the future. Having a solid strategy in place behind your transformation will allow employees to anticipate upcoming changes to their individual workflows and responsibilities.
Over time, you'll also be more open to future integrations as you experience the benefits of continued change and adaptation.
In addition to vision and discomfort, your team needs sufficient skills to help ensure your transformation is a success. While some employees on your team may have some experience and expertise that can contribute to successful digitization, you may need outside talent to help you fulfill your vision. To obtain these skills, you may need to connect with knowledgeable and reliable experts who can meet your specific needs. Our MetaExperts can lend the skills needed to help you get the best results from your digital transformation.
With experts who have experience with digital transformation, you'll benefit from a proven process that helps you succeed with your transformation. You'll be able to more clearly define your vision, align your leadership and develop a transformation agenda, build a roadmap that keeps you on track, and implement a better tech and data strategy. Subsequently, you'll benefit from an integrated strategy that yields the best possible results.
When combined, these three primary factors can help you develop a solution that enables your business to excel.
Not every business that engages in a digital transformation succeeds with it. This is largely due to teams focusing too much on the technological aspects of it and not enough on other critical areas. Because of this, 2019 saw $900 billion wasted out of a total of $1.3 trillion invested in digital transformation. The fact is that businesses need to equip themselves with the right mindset before attempting a complete transformation.
Although new technology can help businesses thrive, technology alone isn't what drives success. Instead, teams must have the right vision and attitude going into the transformation. Everyone involved needs to be willing to accept the new change and work to mitigate certain issues that no technology can fix alone.
If your team has the right combination of vision, discomfort, and skills before initiating your digital transformation, your organization will be able to flourish. By taking the right approach from the beginning, you'll more effectively make sure your investment doesn't go to waste. Subsequently, you'll gain and maintain a competitive edge as you develop into an industry leader.
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