Key Pillars to Achieve Successful Digital Transformation

In a scenario where the market is witnessing cut-throat competition, organizations are bringing in transformative technologies to survive & thrive. In fact, technology is no longer a choice but a fundamental business strategy to improve productivity while delivering unparalleled customer experiences. As per recently published study, digital transformation is expected to reach $2.3 trillion (£1.8 trillion) in 2023. Digital Transformation is considered as a long-term investment to achieve growth. However, an alarming fact associated with digital transformation is that around 63 percent of the projects fail to deliver desired results. So, the big question is how to achieve success in digital transformation. Here, we’re discussing how to achieve success in digital transformation. First is the threshold. It suggests that implementation is not the destination. What does this mean? This means that implementation or customization of software doesn’t guarantee success. To ensure success right data needs to be provided at the right time to the right person. Furthermore, implementation needs to be achieved within time and budget. In traditional implementation approach, most of the consulting firms focus heavily on delivering highly customized solutions based on current business processes. This requires multiple rounds of Discovery and Build which leads to scope creep and budget overruns. So, rather than focusing on implementation success, consulting firms should focus on adapting industry leading practices. This will help clients to improve and optimize their business processes. This will also keep check on budget and timelines. Second is the challenge. Digital transformation is disruptive as it affects every department in your organization, and it’ll going to change how your staff does their jobs. So, you need to effectively communicate your vision and objectives of digital transformation to bring everyone in your organization is on the same page. You need to make your employees realize that it will improve their efficiency by automating manual tasks. They don’t need to juggle around different systems to get information. To avoid the risk of resistance to change and to get maximum support, you need to prioritize few things. A lot of time and resources need to be devoted to ensure that your staff knows how to properly use the system, and how to do all parts of their job on the new system. Documented use cases or user guides can help each of your employee to understand the new software and to adopt it. Third is the abyss or gaps. Since software comes with comprehensive capabilities, analytics reports, functionalities and modules, you cannot have all these. You need to sit down with your team to identify specific objectives and goals you want to achieve with digital transformation. You need to categorize objectives as VITAL, ESSENTIAL and DESIRABLE to drive maximum value of your investment. You can rely on consultants to identify the gaps between the software and your current business processes. Fourth is the reward. A successful digital transformation will ensure operational improvements, streamlined processes, real-time actionable insights and greater customer service. By eliminating repetitive processes and reducing the need of manually entering information, digital transformation helps in streamlining business processes. Since redundant processes get automated, individuals will have more time to work on other important projects and tasks. Digital transformation greatly improves collaboration between departments. By providing real-time access to customer information, you not only keep all your teams on the same page but also ensures faster response times, improved on-time delivery, & improved order accuracy.