What is Leading Your Digital Transformation?
Blog homeMost companies, about 70 percent, were already on their way to completing a digital transformation. It seems, however, that most of them were not completed enough to avoid complications from COVID-19. This virus has certainly caused many to search for ways to accelerate this transformation. Here are the four areas seeing the most extreme changes:
The Cloud
If companies did not have access to the cloud during this pandemic, they would find it difficult to do many basic tasks such as co-editing documents, access analytics, or simply sharing files. Even short distances would present an obstacle for coworkers attempting to gather without the cloud's functions. Streaming would be difficult, smartphones would not be effective, real-time as well as rapid data would have problems etc.
Telecommuting
Telecommuting has seen a massive spike in usage during the pandemic. A vast number of workers have made the switch to working from home -- if their companies allow it. This does not just extend into work life either. People around the globe are using telecommuting to reach out to friends and family in order to avoid complete isolation.
Virtual Events
One of the sectors of industry that has taken the hardest hit is the events industry. Travel is way down and large gatherings are generally prohibited. Many of these companies have redirected their budgets toward digital events and content in order to adapt. Naturally, some of these companies may decide to remain all digital when things return to how they were before COVID-19. For some, a focus on virtual events may become the new normal.
Food and services on-demand
Every trip to the grocery store is a reminder that more and more people are choosing to utilize food delivery services. These workers are easy to spot with their bright colored shirts and company logos. Other companies are also searching for new ways to provide their goods and services to consumers who are effectively stuck at home. Instacart is a shining example of a "digitally transformed" company that is now a mainstay in American's consumption model.
Of the 1.3 trillion dollars spent on digital transformation purposes in 2018, about $900 billion was wasted on failed goals. Hopefully, this was not your company. Most people in relevant industries are aware of the significance of digitally transforming their company. However, it is a daunting task, especially when overwhelmed by the massive scope of transformation that is needed. But if your company can't change and adapt, it will fail.
Ultimately, the main goal of a digital transformation is to use technology to remedy traditional problems. This means integrating technology into all aspects of the business. If done correctly, a digital transformation gives the company the tools it needs to provide the highest value to its consumers.
A true digital transformation is never really completed, as it is more a state of mind a company adapts in order to continually evolve and adopt new solutions both internally and externally. Creating a seamless internal experience is one of the first goals of a digital transformation. When a company performs well internally, it enhances the external customer experience. In digital transformation, every aspect of the company has a role to play and they all affect the customer’s experience in unique ways.
A successful digital transformation isn't something that can simply be completed and checked off a list, but rather a mindset that a company can adapt and integrate into their culture. If this is kept in mind, companies will have a much easier time making the transformation. These twelve steps will certainly make it more manageable:
- Change management - Regardless of the benefits, change is difficult. People, in general, hate change. This leads to one of the most common reasons a digital transformation fails -- lack of support from employees. The most efficient change management efforts coincide with the modern business environment.
- Customer focus - A company must alter their mindset from being product-focused to being customer-focused. Customer focus should be the main force behind choices concerning technology.
- Transformational leadership - Leaders are required to encourage employees toward the overall vision. All top positions should have a hand in driving home this new idea.
- Organizational structure - Internal silos need to be broken down in order to create an organization that welcomes change.
- Integration - A streamlined data strategy is necessary for a successful digital transformation, so all data systems need to work together and be integrated into the company’s internal processes.
- Technology decisions - Digital transformation doesn't just affect one department, but rather an entire organization. On average, 15 people are involved in most tech purchase decisions, so all voices must be heard.
- Privacy, ethics, and data security - A vast majority of consumers believe their personal data is regularly at risk, so creating better company standards for privacy and security should be paramount. Even alternatives to Zoom are beings sought after with hackers recently invading private meetings. Any breach can damage your brand.
- Internal customer experience - Companies must also consider their employees even when focusing on digital solutions for customers. Employees that have their voices heard will always provide superior services than those that don't.
- Logistics and supply chain - Digital transformation is important to improving the efficiency of the supply chain, from the speed that goods are produced to how fast and reliable deliveries are made. Companies must seek ways to improve the supply chain digitally in order to take full advantage of a transformation.
- Personalization - Digital transformation allows new opportunities to provide unique services to customers.
- Digitization - Digital transformation affects all parts of the company. Companies must move past segmented operations to digitize every aspect of the business.
- Evolution of services, products, and processes - For a successful digital transformation, a company must change how they think about how an organization delivers its goods and services.
If you are looking to ensure your digital transformation, or even improve it to make sure you can keep up with the ever-changing technological landscape, contact our experts for guidance.