Digital Transformation

Your Guide to Digital Transformation Success for CEOs Who Want to Avoid it

Your Guide to Digital Transformation Success for CEOs Who Want to Avoid it

Many CEOs are used to traditional tools and methods of operating, making them reluctant to make the transition to new technologies and systems that could help automate and streamline various processes. Even if they want to engage in digital transformation, they may be hesitant; fearing an inadequate or failed transition. However, CEOs and their companies will benefit greatly from effective digital transformationor digitization of their work. The key is knowing how to make that transition.

It's not enough to implement the right technology in the pursuit of digital transformation; there's a lot that goes into this process, including everything from the right attitude to the right skills. Understanding what digital transformation involves will enable you to make the most of it.

In this comprehensive guide to digital transformation, we'll review what digital transformation is, why CEOs need it, and how to successfully transform your business.

To fully realize the potential of a given technology, you must also empower your teams to properly integrate and implement it.

What Is Digital Transformation (or Digitizing Work)?

When introduced to the concept of digital transformation, the first question anyone is likely to ask is, "What is it and what does it entail?" In the words of MetaOps President and CEO, Ron Crabtree, "Put simply, it's a plethora of technologies and tools available to either solve business problems outright or to help improve business performance."

Digital transformation can ultimately help CEOs meet their many business needs. These needs may include finding employees, finding customers, becoming more efficient, improving the quality of products and services, taking less time to respond to customers, creating a better customer experience, and much more. Regardless of the specific problem your business is facing, there are probably multiple forms of digital transformation that can help solve it.

When it comes to improving competitiveness and profitability, the technologies that facilitate digital transformation enable businesses to:

Gain a Significant Advantage

Using the latest and most compatible technologies will help automate many processes and enable more overall efficiency across operations. Through digital transformation, your teams can utilize the best tools for enhanced data collection, improved resource management, and gain in-depth and actionable customer insights that can inform critical decisions.

To fully realize the potential of a given technology, you must also empower your teams to properly integrate and implement it. With a team of transformative people supporting your efforts, you'll truly gain an advantage that propels your business forward.

Become More Competitive

Digital transformation will put you ahead of competitors who don't attempt to transform. Many of your competitors are likely comfortable with their existing processes and systems, which they may not realize holds them back. By implementing crucial changes in your organization, you'll not only stay competitive, but you'll also be able to outperform less innovative companies in your industry. 

Again, you must have the team and skills that drive true competitiveness as you introduce new solutions to your operations. Without the right mindset and people working for you, you'll still fall behind competitors even if you have the best tools in the industry.

Become More Competitive

Organizations often spend a lot of money and time on outdated systems and processes. By introducing change in the form of digital transformation, you can save more money upfront and over time as you continually improve your processes and proactively address issues. More efficiency also means less waste, helping increase the cost-effectiveness of your operations as you continually improve.

Improve Quality

Through better insights into customers and their individual needs, you can better determine what people want to see in your products or services. They may want certain features while expressing dissatisfaction with existing offerings. The more data you're able to both collect and effectively analyze, the more you'll be able to optimize your offerings.

Improve the Overall Customer Experience

As digital transformation improves your team's processes and the quality of your offerings, you'll also create a better experience for your customers in the process. The customer experience could span from help portals to email correspondence and digital products, along with the interaction you have with new potential customers.Today, customers have high standards regarding digital experiences with brands. With such a wide array of choices available to them, these audiences will compare and contrast competing businesses to determine which is right for them. Through digital transformation, you'll be able to offer a better customer experience that drives satisfaction and loyalty while deterring customers from competitors with inferior experiences.The fact is that the only constant in digital transformation is change, as the target constantly moves. Additionally, the definition of digital transformation depends on the context in which it's being discussed. If you can keep up with the latest changes in digital transformation, you'll equip your business with the best resources to position you as an industry leader.

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Three Keys to Success in Digitizing Work & Digital Transformation

Digitizing work implies big changes to systems and operations. Sustainable success is only achievable through a certain level of change. In digital transformation, the winning formula for long-term success is "Vision x Discomfort x Skills. "You need to understand what each factor involves to combine them into a recipe for success:

Vision

This is what enables you to determine the road best traveled for your business. You must have an overarching goal that clearly dictates where you want your organization to be as a result of the digital transformation. Once you know the destination for your business, you'll be able to develop a clear roadmap as you begin your transformation.

Discomfort

Your team needs to understand that change brings discomfort, but this discomfort is necessary for the digital transformation to work properly. Sometimes, getting out of your comfort zone is a good thing, particularly if it helps you achieve even better results. Over time, your team will become more comfortable not just with new technologies and ways of doing things, but with change in general.

Skills

Businesses need the right skills to help ensure the digital transformation works in the long term. To acquire these skills, organizations must work with experienced and knowledgeable experts in the space, such as MetaExperts.Together, each of these items will help achieve the kind of success you want with solutions that truly work.

Why Some Digital Transformation Efforts Succeed While Others Fail

One of the mistakes that many people make when they think of digital transformation is to perceive it purely from a technological standpoint. There's a reason why an estimated $900billion of the $1.3 trillion invested in digital transformation in 2019 went to waste. So, why do some of these efforts succeed while others fail?

Fundamentally, it has to do with the fact that most digital technologies present ample opportunities for improvement, but they aren't what truly drive success. Without a mindset that enables true change and if the organization's existing practices have certain flaws, digital transformation only serves to amplify those issues.

This means that if you want to truly excel with the help of digital transformation, you must have that even mix of vision, discomfort, and ample skills. With the right approach, you won't need to worry about digital transformation efforts being a waste of time and money. Instead, you'll more readily get and stay ahead of competitors that fall behind due to a lack of preparedness for the future.

Once you have the elements you need to succeed with digital transformation, you need to know how to put them to use as you move forward.

What Are the Steps to a Successful Digital Transformation Initiative?

In addition to the three instrumental ingredients of successful digital transformation, you must incorporate them into an organized strategy that drives that transformation. When developing your digital transformation strategy, you should work with a digital transformation expert with experience in digital transformation. In fact, you may be better off working with a team of experts like MetaExperts, which offers access to plenty of skills and experience to ensure success with your efforts.

Your digital transformation initiative will begin with corporate strategy, which involves answering the following questions:

  • Functionality—what has to be different?
  • Is there a needed change in the product or service provided?
  • Are changes needed in the way we source, produce, and fulfill?
  • Do we need to change the way we:
    • control costs, time, or other factors?
    • execute on producing our product or service?
    • control the quality of our product or service?
  • Do we have talented people with the right training, motivation, and other traits to do it right the first time?

You must answer every one of these questions, as digital transformation directly impacts each of these elements. Ideally, you would have somebody who can help answer these and other potential questions, such as a MetaExpert Transformation Architect who connects all the dots. With a digital transformation expert backing you, you can gain a better idea of how to move forward with an effective strategy. Without this expertise, you might remain uncertain about how to go about implementation, which may limit your success or prevent it entirely.

What Roles and Expertise Are Needed in a Digital Transformation Initiative?

To facilitate successful digital transformation, you'll need the help of multiple professionals throughout your organization. Everyone within the company needs to be on board and on the same page to make a smooth transition and help ensure the transformation takes place. Otherwise, members of your team who aren't equipped to move forward could be the ones who set you back.

Some of the team members you'll need to get the best possible outcome from your efforts include:

C-Level Executives

Leadership Team / Department Heads

Digital Transformation Strategy Expert

Master Level and Architect Level Experts

Project Managers

Evangelists

Regarding master level and architect level experts, you should consider working with professionals such as MetaExperts. Our team of MetaExperts can help translate into layman's terms what others are talking about when it comes to system architecture and implementation. In turn, you'll gain a deeper understanding of how technologies work, which enables you to use them more effectively and gain more control of the transformation.

Most Companies Are Failing in Digital Transformation—Why Is That?

https://vimeo.com/user89232657/review/619369698/4deeb87af2
Part of what continues to scare many CEOs away from digital transformation is that a majority of companies are failing at it, with 70% of digital transformations failing, according to Forbes. Almost no one seems to engage in digital transformation and succeeds, at least not in the long term. At the same time, CEOs don't want to be left behind, and they fear that their competition is going to beat them to the finish line. They're unsure about where to start and worry about wasting their money and time. 

So, why exactly are so many businesses failing when it comes to digital transformation? There are several key reasons for this, including:

Inadequate Expertise

One of the reasons organizations don't successfully transform is because they don't have sufficient expertise in the concept of digital transformation. They may be aware that they need new technology and strategies, but they may be uncertain of how to go about change. Digital amendments require plenty of precision planning, along with the willingness to accept adjustments to the way they accomplish tasks.

No Implementation Knowledge

Another issue that prevents organizations from achieving success is a lack of proper skills behind their transformation. Companies will need to work with a committed and highly skilled IT team, which is where MetaExperts come in. Working with MetaExperts, organizations can make sure they have skilled and trained teams supporting their efforts. These professionals know how to help businesses transform based on their unique requirements and resources. As a result, you'll be able to get the best possible results from your transformation with plenty of guidance.

Resistance to Change

As mentioned, CEOs and people on their teams may be uncomfortable with change and actively resist it. However, everyone should be committed to change when it's needed, as change is often a good thing. To make sure your teams are on the same page, you must establish clear communication channels throughout the organization. If you can get everyone on board to enforce change, you'll more effectively enable the digital transformation to take place.

Fear of Retrenchment

Some teams may worry about retrenchment in the organization as a result of digital transformation. Some employees are likely to worry that they'll be more expendable due to investments in new technologies and the perceived inevitability that technology will replace them. You can eliminate these concerns by ensuring that digital changes make employees part of the game-changers. Through training and putting employees in central roles during the transformation process, everyone within your organization can feel valued and eager to help.

Lack of a Clear Strategy

If you don't have a clear idea of how to approach digital transformation, this could hinder your progress. Without sound knowledge of your project's scope, you may make decisions that only serve to balloon your budget, which ultimately leads to failures. Instead, you must have a defined strategy backing your efforts. With clear goals and a specific direction to go, your chances of success will dramatically increase.

If you can avoid these pitfalls, your organization will be well-equipped to avoid failure. Subsequently, you'll be able to reap all of the rewards of effective digital transformation efforts. With more simplified processes and efficient operations thanks to digital transformation, your organization will be able to experience long-term growth.

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