Getting the digital transformation process right has been saved
Getting the digital transformation process right
Why your organization should have a digital transformation strategy
Digital transformation has long been a hot-button issue for companies as they seek ways to boost efficiencies and innovation. Still, the digital transformation process often requires fundamental shifts in mindset, culture, and processes. In the following article, we break down the building blocks of a digital transformation strategy that can work for both you and your customers.
- How to think about the digital transformation process
- Digital transformation needs synergy and security
- Seize the future
- Get in touch
How to think about the digital transformation process
Companies that recognize and leverage the power of digital transformation typically show stronger progress in critically important business areas, including growth acceleration, cross-functional talent, and new value-generating business models.
A recent study from Deloitte Digital and MIT found that companies reaching significant levels of digital maturity:
- Collaborate more with external partnerships, developing digital ecosystems and cultivating relationships to facilitate digital innovation.
- Exhibit greater flexibility as they work with internal and external teams.
- Give greater autonomy.
- Foster an environment where all are pushed to succeed.
- Are more likely to abide by the company’s ethical standards in relation to digital initiatives.
Still, leaders shouldn’t think about a digital transformation strategy from a technology-only perspective. A successful digital transformation process often requires deep organizational shifts in thinking, culture, and operations.
Digital transformation needs synergy and security
Digital transformation starts with people, not technology. Often the most difficult task when creating and implementing a digital transformation strategy is aligning people’s mindsets, company culture, and the way work gets done.
Our study with MIT also found that companies thriving in the digital landscape all took similar approaches to their digital transformation process, including:
- Engaging with others outside the organization to drive innovation.
- Reevaluating the collaboration between teams and assessing how cross-functional teams may benefit the organization.
- Loosening the reins within the formal organizational structure, allowing teams to experiment, fail, learn, and course-correct.
- Defining ethical guidelines for digital innovation and transformation.
A mindset of change with ambition is what can open doors for digital transformation. Technology is constantly and quickly advancing. Businesses and their people should have ambition to keep up with the fast-paced environment, seek change, develop their competitive edge, and discover new business models. To become comfortable with this mindset, organizations can focus on three things.
- Think big. Look five, 10, or 15 years into the future and envision what trends and technologies can enhance, or potentially harm your business.
- Start small. Develop a series of small steps instead of trying to take one large leap toward incorporating digital technology into your business.
- Scale fast. Identify key takeaways and act quick to incorporate them elsewhere.
In a rapidly changing marketplace, a company’s belief in the importance of change and innovation can be an important enabler of digital maturity. The mindset and change in fundamental processes and organizational culture should come first, followed by the digital tools.
Seize the future
The digital transformation process helps future-proof businesses with technology by creating a source of opportunity for organizations that can shift their mindset and seize the moment.
But with technology evolving at a rate that’s difficult to keep up with, companies should implement compliance training around data protection to improve employee awareness about new data rules and regulations. When companies lack awareness around data protection, it can wreak havoc on their digital transformation strategy.
A modern data strategy should include continuous protection. Automation and mobility of digital applications and data can enable companies to protect not only consumer information, but also their own reputation.