Over the past two years or so, digital transformation is perhaps one of the most hyped up buzzwords in the technology sector. While this is becoming a necessity for organizations with every passing day, it is also becoming a tricky affair at the same time.
According to an industry estimate, the global spending on various digital transformation initiatives will reach a whopping US $2.3 Trillion by the year 2023. Keeping this huge sum into perspective, it would seem that digital transformation will be a complete success.
On the contrary, the actual success ratio of various digital transformation initiatives or programs is dismally low. One of the major reasons behind this undesired outcome is over obsession with the “digital” part, and playing down the transformation part.
The Misunderstood Concept of Transformation
Most enterprises tend to mistake the concept of transformation, and consider it an equivalent to smaller, incremental changes to their existing IT infrastructures. While such moves will surely be a part of the bigger picture, this by no means implies transformation.
So, in order to make the whole process of digital transformation worth the effort and resources expended over it, it needs to re-imagine the whole business model, processes and workflows. All these elements then need to be structured around digital technologies.
In this post, we will highlight the major ingredients for pulling off a successful digital transformation, which not only influences the respective industry, but also does something good for the society as a whole.
Related: How to Use Digital Transformation for Personalized Customer Experiences?
Envision Something Big
As pointed out earlier, perhaps the biggest pitfall of any digital transformation initiative is a shortsighted approach. If an organization commits the glaring mistake of equating nominal changes to their legacy systems with transformation, then only they are to be blamed.
The foremost step behind digital transformation is envisioning something big. This process begins with imagining how your organization can really shake things up in its respective industry or niche, and do something groundbreaking to achieve that goal.
Mapping the Right Digital Technologies
After determining a course for the future direction of the enterprise, business and IT leaders need to explore the digital technologies out there, which are the perfect fit for the future transformation vision of the enterprise.
Among the wide range of options out there, Cloud Computing is a digital technology that provides enterprises going through digital transformation with the right amount of accessibility, flexibility and scalability that businesses require.
The next thing to tackle will be the decision to either integrate those digital technologies into the organization fully, or use them in a supplemental role. Another possibility, down the line, could be to completely transition towards a cloud computing based model.
Related: Cloud Adoption – A Cornerstone of Today’s Digital Transformation
Nurturing Organization Wide Ownership
Digital transformation initiatives are generally mistaken solely as an IT specific undertaking. This is not at all the case, as every tier of the enterprise will have to take proportionate ownership of the whole digital transformation initiative.
Effective communication will be very crucial at this stage, as every change brings along with it a certain degree of uncertainty and unrest within the organization. Effective communication will break down these barriers and calm down unsettled nerves.
Quantify Your Transformation Goals
Using cross-functional analytics, enterprises on the path to digital transformation need to quantify their progress on a regular basis. This practice ensures progress never comes to a grinding halt, while improving stats or numbers keep the employees motivated.
These quantifiable metrics will also play a key role in determining the true value that digital transformation initiatives have added to the system. This will also involve comparing past performance with the existing one, and act as a means of justifying the R.O.I.
Related: Ingredients of a Successful Digital Transformation in Banking
Automate in Order to Innovate
One of the key goals of digitalization initiatives should be automating trivial, and repetitive processes within the organization. Now, technologies like Artificial Intelligence (AI) are more than capable of handling such trivial processes, making room for real innovation.
At the end of the day, digital transformation programs also boil down to striking a balance between the business opportunities, and their accompanying risks. Having said that, fast paced digital transformation can really prove a force multiplier for a business.
If your enterprise is in the thought process for digital transformation, remember that time is of the essence. Your competitors may well be ahead of your business in the digitalization curve, thus raising the urgency on your part to act fast.
At dinCloud, we enable you to achieve a speedy and seamless digital transformation by leveraging our state of the art cloud services as well as solutions that are secure, reliable and cost efficient.