15 Nov 2018, 10:40 — 4 min read
Summary: Embracing 'digital transformation' could be one of the most important factors to ensure the relevance and longevity of your business. Sandeep Raut shares various aspects every business needs to consider when undertaking digital transformation.
Gone are the days, when companies used to decide strategy and then execute it for the next five years as planned. Today a company’s life on S&P 500 is just 15 years and it is further going down. Digital businesses like Uber, Airbnb did not exist before 2008 but now they are multi-billion-dollar poster children for digital disruption.
Many organisations today have realised that digital transformation is essential for their survival and success. But many of them forget that the focus of digital transformation is not digitization or even technology, it is the customer.
Here are various aspects every business needs to consider when undertaking a digital transformation.
1. Set a clear vision
Oftentimes, companies that are successful have painted a clear picture of what they want or need to be, when they digitally “grow up.” This vision is in line with the company’s business and growth strategy. A clear vision is thus the foundation of effective digital transformation.
2. Culture is a key determinant
We can change our technologies, our infrastructure, and our processes. But without addressing the human element, lasting change will not happen. Culture is the operating system of the organisation. It is like air, it is there but you can’t see it.
3. Leadership support
Very often companies' C-Suite is over 50 and are digital immigrants. They have slowly adapted to web surfing, emailing, texting and the instant world of social media. Hence it is difficult for them to drive digital transformation. They need to set the tone by collaborating with managers on designing an organisation-wide digital strategy while encouraging ongoing innovation. A dedicated Chief Digital Officer is one way to go.
4. Be customer obsessed
With technology and customer habits changing so quickly, developing a deep and detailed view of customer behaviour across all channels is the foundation of digital success. Walk in the customer’s shoes, to identify instances where things could go wrong and address them quickly.
5. Inter-department collaboration
It is essential that all departments work together to bridge gaps, break down data silos, and make important connections. Communication within employees is a critical aspect to be covered. Ensure that all the customer touch points communicate with each other to have a single version of customer truth.
6. Fail fast and succeed faster
In the digital era, failure is accepted and it is seen as part and parcel of a successful digital business. Failure must be fast, and the lessons of failure learned should be even faster. This allows businesses to take a shotgun approach to digital transformation.
7. Digital transformation is a long-term commitment
Lastly, remember digital is a long-term commitment. Don’t cut the investments and pull back employees on billable roles in just one quarter saying it’s not working. This is the mistake most of companies make. Nurture the efforts like a newborn baby as she takes over a year to walk on her own. Have the patience to see the results.
To explore business opportunities, link with me by clicking on the 'Invite' button on my eBiz Card.
Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views, official policy or position of GlobalLinker.
Posted bySandeep Raut
We deliver Consulting Services on Digital Transformation, Digital Maturity Assessment, Roadmap, Customer Journey Mapping.
Recommended articles for you