Should My Business Focus On Digital Transformation?
Just Some (of the Many) Reasons to Undertake Digital Transformation (Dx)!
According to an Accenture study, ‘30% of companies are still considered laggards in technology adoption and innovation.’ Hopefully, your organization is not among those laggard companies! Digital Transformation (Dx) is important for many reasons, not the least of which is competitive positioning. If your business is not actively working on improving its digital response, work processes, approval procedures and customer interaction, you are already behind the competition!
‘There are plenty of reasons to undertake a Digital Transformation (Dx) initiative or to speed the process of your initiative to complete the steps more quickly.’
In this article, we provide a sampling of the many reasons a business should begin a Digital Transformation (Dx) initiative, or step up the pace of an existing initiative to complete the process.
Technology Evolution – Technology continues to evolve. Even the software, solutions and systems you have in-house already are changing, upgrading and evolving. Because these changes happen gradually, most organizations fail to engage in a comprehensive overview of the technology landscape and, by the time they do so, they find that the pieces and components no longer fit easily together. New technologies are crucial to Dx and to the continuous improvement of the organization and its team member skills and business processes. Your business cannot adapt to change if it can’t move quickly. If systems and software are contained within silos or require difficult, manual transformation of data or processes to produce an output, you are working at a disadvantage.
Promoting and Approving New Technologies – Investing in new technologies like artificial intelligence, business intelligence, augmented analytics, digital asset management and project management software is important. If you are presenting options and recommendations to management, you should focus on more than the cost of the new technologies. Including the Digital Transformation (Dx) initiative and the overall goals and benefits of this approach is crucial to budget and project approval. These technologies will support the Dx initiative and streamline and improve workflow, manage milestones and improve results.
Team and Individual Career and Professional Growth – Your team members are an asset to the organization. Providing them with the tools and refined business processes they need to function at the highest level is critical to your organizational success AND when a team member has the right tools and processes, they are more likely to have a positive outlook on their employment and status within your enterprise. Digital transformation can have a very positive impact on employee satisfaction – presuming you include your team members in your requirements planning to identify their issues and the opportunities they see for improvement. Adding new tools like augmented analytics and other features and functionality to your team landscape can increase skills and data literacy and provide a path for career advancement AND your team can add more value to your bottom line.
‘If your business is not actively working on improving its digital response, work processes, approval procedures and customer interaction, you are already behind the competition!’
There are plenty of reasons to undertake a Digital Transformation (Dx) initiative or to speed the process of your initiative to complete the steps more quickly. Be sure to plan well before you begin so that you understand your current state, your desired state, the priorities you will establish for locations, teams or people whose work product must be considered first, and the sequence of the project, and include your team members in developing requirements.
If you need a roadmap to Dx, take a look at our White Paper for more details on the factors to consider in planning and deploying a Digital Transformation (Dx) initiative: Preparing Your Business For Digital Transformation And Data Literacy. Be sure that your Data Transformation (Dx) Strategy Encompasses Other Aspects Of Your Business Environment like enterprise culture, etc. Let us help you get started with a Digital Transformation (Dx) initiative.
Original Post : Why Should My Business Take on Digital Transformation?