Should you still care about digital transformation? | Deloitte UK has been saved
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I think so, but let me explain why…
I’ve noticed a bit of a trend of late. Perhaps more anecdotally ‘hmm, someone else has said that thing …’ than I’ve crunched the numbers. But there’s a vibe going around that because digital agendas have recently been fast-tracked, it’s the same as being ‘transformed’. So, while spinning up new digital touchpoints, investing in data consolidation or hiring talent is great, it’s only the start. That’s why I think it’s important to restate the case for considered digital transformation.
To be fair many organisations we work with are significantly more digitally mature than in previous years, many accelerated in the face of the global pandemic. We’ve actually been exploring these impacts in our Wired Series on digital transformation here. But as things return to a level of normality, will businesses continue to embrace this, or will they fall back into their old ways?
External shock factors provoking innovation isn’t new. In fact, accepting the imperative to become shock-proof has previously helped brands make transformation their number 1 strategic priority. That’s been my experience over the past 15 years anyway, helping clients along this journey. However, just dipping some tactical toes in the water doesn’t mean the task is completed. Not at all, instead consider it more as the time to draw in a deep breath and commit to the strategic big plunge.
Perhaps it’s useful to anchor back to what we mean when we talk about digital transformation in Deloitte:
“Digital transformation is a long-term strategy that leverages digital technologies to create (or modify) business, people and customer experiences so the organisation can meet business and market needs."
So here’s why I think you should still care:
You might now be reading this thinking, so what, it’s too hard, let’s just focus on what we know. Yes it’s scary, yes it’s a long and winding road at times, and yes in spite of all that you should still care. The last 12 months held up a mirror to organisations, showing them how resilient they really are. In fact Forrester recently estimated that as many as 20% of Fortune 500 organisations won’t make it through 2021.
So my challenge is this: be brave and ambitious enough to use digital transformation to future-proof your business. Because the alternative is worse. We collaborate with clients across the full transformation spectrum, so pinky promise, we know that committing to digital transformation can be the determining factor for long-term success.
I’d love to talk to you some more about it, so feel free to get in touch!