Today’s digital technology offers huge opportunities and benefits for every business. With the coronavirus pandemic, most businesses had to accelerate their digital transformation process to adapt to their new reality. Digital transformation is a critical strategic initiative that must be performed intelligently to derive maximum return and propel the organization to the future.
Digital transformation is, in essence, a complete transformation in the way that an organization operates by leveraging digital technologies. Companies that have completed their digital transformation may expand their business to new areas and new business models. Because every company is different, digital transformation looks different at every company. However, successful digital transformation looks similar in many companies as they find themselves competing in new arenas and operating more efficiently.
In this article, you’ll learn some important aspects of a successful digital transformation.
Digital Transformation Should Be Aligned With Business Goals
Although digital transformation is important for the vast majority of today’s businesses, it should not be done solely for the sake of appearing more modern. New and renewed technology should serve your business goals, not the other way around.
Most importantly, businesses should have strong, measurable, time-based goals for their digital transformation. These goals can—and should—be bold and wide-ranging in nature. Digital transformation is an all-encompassing shift in the way that companies operate.
IT Should Be Directly Involved With Business Stakeholders
IT is no longer simply the department that runs the back-office systems, fixes laptops, or sets up software. In a business undergoing digital transformation, IT is a strategic stakeholder in the process.
A modern IT department continually works to build and maintain backend technologies that become the foundations for the delivery of real value, whereas other business units are able to integrate new apps and services.
Today’s world moves fast. Even companies that are used to considering changes carefully should take risks, reconsider past decisions, and embrace learning from mistakes. Agility is a huge advantage when leveraging technology for your business.
Additionally, companies should not wait to react to competitors. Instead, they should strive to be the leader, not the follower. Even if a change disrupts the company’s existing business model, it is far better than a competitor doing the same.
Utilize External Resources When Appropriate
Forward-thinking third-party service providers may be able to provide better, faster service than internal IT teams, especially when the existing IT department is not versed in this type of work. Different companies choose to integrate external providers in different ways; outside help might be able to temporarily join digital services teams to provide cost-effective solutions, experience on new technologies and consumer behavior, and support on strategic vision.
Utilizing digital transformation is increasingly important to maintain business relevance. Customers have higher expectations than ever. The COVID crisis has impacted every business, shifting more transactions online. Using technology to drive improvements towards business goals is the primary opportunity given by digital transformation. By intelligently managing resources, emphasizing adaptability, and meeting real goals, digital transformation can be hugely successful.
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