More and more, as companies embrace technology, they’re often adding new systems as well as processes on top of ones which are already in place. Trying to better use the latest technology available for digital transformation is a move in the correct direction for any organisation. However, the technology stack frequently grows upwards in a couple of areas as opposed to outwards in order to touch all parts of the business. That’s where the challenges arise.
Sadly, the fastest function among a group of intertwined processes does not act as a growing tide to lift all ships. Instead, the varying pace complicates how a number of different functions mesh together. This in turn creates red tape to ensure that departments are able to work together given their differing velocity of activity.
This makes it critical for enterprises to make sure that they’re positioning all elements of their business to leverage technology as a part of their success rather than allowing technology to grow in some areas and stay stagnant in others. Building up technology infrastructure across the board allows businesses to cut the cumbersome red tape and create a more efficient, truly digitally transformed company.
Transformations Are Challenging And Digital Ones Are Even More Challenging
Years and years of research on transformations has demonstrated that the success rate for these efforts is consistently low. Less than 30% succeed. Digital transformations are even more challenging.
Even digitally savvy industries – such as high tech, media as well as telecoms, are struggling. Among these type industries, the success rate does not go beyond 26%. However, in more traditional industries, for example oil and gas, automotive, infrastructure, and pharmaceuticals, digital transformations are far more challenging. Success rates fall between 4 and 11%.
Also, success rates in terms of digital transformation vary by company size. At organisations with fewer than 100 employees, respondents are 2.7 times more likely to report a successful digital transformation than are those from organizations with more than 50 000 employees.
What I Purposeful Digital Transformation?
The world’s leaders — commercial, non-profit as well as governmental — need to pursue digitalisation on purpose, purposefully leading the world towards a better and brighter digital future. Doing so requires a bigger perspective and greater responsibility for decisions made around digital technologies. It requires proactively scanning the emerging landscape for both social and environmental risks while simultaneously looking for opportunities to use digital technologies to resolve global challenges. This is digital transformation on purpose.
Grounded decision-making depends on having a framework for understanding the consequences of choices, so it would be helpful to have a framework for understanding how digitalization proceeds. We offer one below that defines the terms digitization, digitalization, and digital transformation. There is no agreement regarding the meaning of these terms and their definition often depends on who is using them: technologists, consultants.
Measure Twice And Cut Once
Start at the end through considering the result which you’re hoping to achieve. In your head, run through all the steps and players which will be affected by what it takes to get there and then evaluate the best way in order to equitably improve each of their workflows.
Only when you’ve examined at it from all angles and gathered criticism as well as advice from the key stakeholders should you begin carrying out your plan. Not only does this lower the stress of uneven technology adoption, but it also creates more seamless workflows within your organisation and puts you in a better place to continue to grow your technology stack.
Do you want to become a digital transformation specialist? If you do then you need to do our Digital Transformation Course. Follow this link to find out more.
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