There are lots of stories from enterprises about the journey of their Digital Transformation and how this transformation has transformed their business. The good part of the story is all about their benefits but there are some enterprises who failed in achieving the goal they expected from the transformation. I think we need to understand the DT as according to a survey DT has been also considered as a risk factor because of the failure ratio. According to a report around $1.3 trillion was spent on DT last year out of which $800 billion was estimated to waste. The question comes why did they get to succeed and why not others?
The answer is Mindset, let me elaborate what I’m trying to say- DT does include technology reforms but it also shows what exactly and how it is to be done. You need to understand what is required for your business not just by technology but a strategic approach towards it. People must put the right mindset for the change with organizational practices. This would really magnify the goals for DT, let’s discuss a few points while considering DT.
You always need a groundwork before you get into something so would be necessary to do if you are planning to invest in Digital Transformation. Technology is always going to help you, but you need to identify whether it would be the right tool for your enterprises. Identify the business process you are looking for and then invest in technology.
For example, look if really your organization needs Machine learning strategy- if yes then what should be the are you can look at to make the best of it for your business. A USA based Manufacturing company developed a strategy for serving a marketplace in which mobile apps were just as important as every other thing for the business. They chose to focus their attention in three areas: speed, innovation, and digitalization. The strategy helped the company in their vision of more production, the app was helpful through various insights. Thus, this strategy and the tool- Mobile App helped their investment with an estimated result they did for the same.
The goal of every other organization is to improve customer experience, this digital transformation is not only to improve our process but to ease customer experience as well. Customer experience holds an equal share for the transformation for example, a company developed software that would give a better reading of the mechanical activities. The reading would be helpful for better insights to your company but at another side, the perfect reading would also benefit the customer you are doing the process for, this accurate reading would give the best product of it and your customer is happy.
So, make sure about the technology or tool you are going to put in your transformation journey which would enhance your business and customer experience as well.
Start-ups like Silicon Valley are known for their agile decision making and quick prototyping. The focus I want is the adaptation that takes place, as of how adaptive they are. Changes are necessary, and they are necessary to be made and accepted. It’s best to adopt a flat organizational structure that keeps some difference from the other organization.
So, if Digital transformation is working for the organizations that means they are doing it differently and the difference is focusing on fundamentals. They focused on changing the mindset of their team members as well as the culture of the organization with processes before going to any tool or technology.