PREPARING FOR A SUCCESSFUL DIGITAL TRANSFORMATION

Digital transformation has become the need of the hour for most organizations majorly during the pandemic period. Digital transformation is the key to success for most business, when done properly. Only 33% of Businesses see success after a Digital Transformation. It is necessary to implement the transition process in a streamlined fashion and with a number of factors taken into consideration.

The following 5 factors are key to a successful Digital Transformation.

Alignment of the Transformation Mission with the Organizational Goals & Vision

The organizational Goals define the Digital Transformation Mission. Do not start a Digital Transformation process just because a competitor or ally is undergoing one. It is important to define Organizational Goals and Issues. Start your Digital Transformation journey only if the Transformation can help you achieve your goals.

Make a note of how the Transformation will help you meet your Short-term, mid-term and long-term goals. Be clear on defining the boundaries of the Transformation and how much of a need or want it is for the organization.

The cause of a Digital Transformation journey should start with looking for a solution within the Organizational parameters. Set up good cross-functional integration & standardization within the organization, so that the Transformation process can see development across all the functional aspects of the organization.

Spend Budget wisely

It is extremely important to plan the financial investment that goes into the Digital Transformation journey. It is good to be cautious, so that one doesn't end up overspending, that results in spending more on the Transformation than the organization generates post the Transformation.

Plan resources like Human Resources, Technological requirements, Project Scope, etc., in advance to eliminate non-alignment between the end goal and the budget. The requirement to hire specialists in each arena is minimal, since there are several platforms that aid in the process of Digital Transformation with the help of Freelance Experts. The organization can choose and pick Experts pertaining to their field of expertise from these platforms. This is highly economical and reduces the burden and budget strain on the organization.

Use Relevant and Updated Technology

There are several technologies trending in the market. No technology solution fits all, each solution needs to be tailored and customized as per the Organizational goals & Transformational strategies.

Each industry requirement has a different technological solution, for example, Cloud is used for scalability, Internet-of-Things (IoT) is used for operational intelligence and Big Data Analytics for Actionable & Predictive Insights. Identify which technological solution would meet the Organizational issues and lead the organization on a path of Digital Transformation. Spend time and consider experts' opinions before taking any technological decision.

Re-evaluate and Re-align the Organizational Goals time-to-time

It is crucial and essential to re-iterate the organizational goals to avoid deviating from the Digital Transformation journey. There is no end to the Digital Transformation journey, since every day there is advancements in different walks of Technology like Robotics, Machine Learning, Data Mining, etc.

The competency of the Organization lies not in its strength, assets or intelligence, but the capability to adapt to change. The importance of adapting to change is often underplayed but has a major role in the sustenance and development of the Organization.

Start Small but Start Today

As quoted by Richelle E. Goodrich “Progressing at a snail’s pace is still progress, and slow progress is better than no progress. Never be stagnant, and never give up", the same applies to the Digital Transformation journey. Once taking the journey is inevitable, it is good to start at the earliest. Small steps become huge laps over the course of time.

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