by Prasad Thottekatil
According to Forbes,70% of all digital transformation initiatives fail.
Considering that we live in such a digital-centric age, one can imagine what this means to CEOs/CTOs who grapple with the constantly shifting sands of the digital world we live in. Digital transformation is a daunting task, given the multitude of factors one needs to keep in mind in order to get it right. Not just for the here and now, but to be future-ready. Getting it right makes a critical difference in staying competitive, relevant and successful.
One needs only to look at companies who were giants in their fields a few short years ago – invincible but inflexible – who failed to make the leap to digital and are now shadows of who they were – if they’re even still in business. You may have heard of a few of them: Kodak, Nokia, Xerox, Blockbuster, Yahoo, Blackberry, Commodore, Toys R Us, Circuit City, Netscape, Sears, Motorola, and JCPenney.
Effectively launching these much-needed but often complicated projects takes more than wishful thinking and good intentions. Here are several key factors that will ensure your digital transformation undertaking is a resounding success:
A Specific Objective
As with any business project, knowing the why is as important as the what, when, where, and how. Everyone in the enterprise needs to know the essential details and reasons for the mission and their responsibility in its execution. Does everyone know exactly what your objective is?
A Clear Strategy
Once you know the why, it’s important you have a clearly defined set of events, processes, and timetables on how to execute your objective. Many setbacks, delays, and complications can be avoided with a strong and well-defined plan of attack. The clearer the strategy, the more certain its success.
An Organized Organization
Transporting and transforming data is only as good as the quality, organization, and availability of that data to its intended users. The more organized the team in its assets and procedures, the easier and more effective your project will become. Do you have the proper assets in the proper places?
A Motivated Team
Just as important as the right data in the right place is having the right people with the right attitudes on your digital transformation team. Only enlist the most knowledgeable, motivated, and flexible staff and you’ll get an unstoppable team that gets the job done well. Who would best fit on your team?
The Top Tools
With all the priority of digital transformation projects today, there is a world of new technology and tools that are being developed to give you the solutions you’re looking for. Of all the latest and greatest options, there are plenty from which to choose. Do you know what all your possibilities are?
One of the greatest challenges to digital transformation success is the human factor of change. Few people like it. Information meetings and constant reminders that the change is not a threat but a necessary step toward improved performance is essential. How are you preparing your staff for change?
Constant and Quality Communication
None of these steps work unless your team communicates clearly, comprehensively, and consistently with each other throughout the process. Effective communication engages, includes, equips, and energizes. The lack of it results in confusion, chaos, and catastrophe. How well are you communicating?
When a client of ours decided to take his business digital, the technical expertise as well as the advisory and mentoring role that Amazech provided not only enabled him to expand his market but today, he says he has more time to focus on the more important things to grow his business. He does his part, we do ours, and everyone benefits—especially his clients.
With the evolving needs of a younger client base who are digital natives, the business case for digital transformation has never been stronger. To stay competitive and successful, the transition to going digital seems an inescapable reality. In fact, it’s a business imperative.