Digital Transformation: Three Top Questions Answered!
We're going to answer these all-important questions for you.
When beginning a digital transformation journey, whether in one department or across a company, there are a variety of questions that need to be asked (and answered).
Digitizing operations must be for a purpose, it must solve a problem; this could include, improving customer experience, enhancing employee experience or fighting off disruption. But, do not implement technology for technology’s sake. It will only lead to digital transformation failure
For digital transformation to be a success you have to:
A. Identify a problem
B. Discover a technology to solve the problem
C. Have leadership buy-in and leadership transparency
D. Don’t be afraid of initial failure (but, fail quick)
I. What is digital transformation?
This is the first question you should ask yourself, and the way you perceive the answer will define your strategy.
At its most simple, digital transformation is the adoption of new/emerging technologies to extract value out of data, processes and people, “creating the best version of themselves. It is “helping businesses remain competitive by fostering significant changes in productivity, collaboration and communication.
But digital transformation is more than this: it is a cultural revolution; not just the introduction of new technologies and processes, but how you think as a business, how you identify yourself.
Digitization is a revolution of thought, practice and overall strategy: digital-first. Getting this understanding right is essential for digital transformation success.
II. How best to lead digital transformation?
Once you understand that digital transformation requires a cultural transformation, the best way to lead the revolution should become self-evident.
Leading the digital revolution has to come from the top, but it’s also got to be implemented by managers in various departments (HR, finance, product etcetera) who understand and believe in the digital process. These are the people (on the ground, if you will) who are pushing the digital strategy, with the weight of the executive team behind them.
A successful leader is only as good as their employees, and it is important to ensure that the workforce is digitally-oriented. To take advantage of digital, leaders must create a work environment that is flexible, interconnected and ubiquitous. The difference between successful and unsuccessful digital transformation often lies in the finer details of human adoption rather than technical implementation.
III. Why does digital transformation matter?
The only constant is change – Yikes!
Over the last decade, people have been exposed to the advances of consumer IT (think back to the TV you owned ten years ago, as opposed to the one you own now), and are now expecting the same level of change from the organizations they use (think financial services, retail, telecoms or marketing; even transport).
Today, because of this expectation of change, the dominant incumbents are getting attacked my disruptive market entrants offering a service or product much more aligned to the needs and expectations of the modern consumer.
To be able to protect your business, you need to be able to be strong, you need to be able to reinvent yourself, you need to be able to be agile. Digital transformation is a very clean and quick and straightforward way of achieving many of those goals sooner rather than later.
Digital is the new normal and it is engrained into most aspects of our lives. Digital transformation is not just about the technology, it is about what that technology enables. Digital transformation matters because it is going to “fundamentally change how work gets done, how organizations interact with customers and how decisions are made. Making the most of the digital era means businesses must change the way they operate and leaders need to see differently, think differently and do things differently