The term ‘digital transformation’ has become a cliché for everything from artificial intelligence (AI) and machine learning (ML) to migration to the cloud. How the organization defines it is dictated by the goals and objectives of the organization. On the other hand, transformation is no longer an option in the current economic context; we have to stay competitive.
Frémont, California: Many people plan to start a digital transformation program with just one big project, like rewriting an app or developing a new platform. On the other hand, true digital transformation requires the integration of multiple programs, resulting in new business models that make interaction with products and services easier and more efficient. Businesses need to take a holistic view of themselves, remember that success is measured over time, and ensure that digital transformation programs are firmly linked to revenue generation.
Let’s see some of the strategies businesses can use to accelerate their digital transformation efforts:
• Bypass the pilot program and focus on MVPs
If the company’s digital strategy is still in the planning stage, it needs to forgo the pilot and immediately begin numerous Minimum Viable Product (MVP) efforts. Because digital is here to stay, companies may need to re-evaluate their business models and accept the possibility of failure in their digital initiatives. Hence, they save time and money by skipping the trial phase and involving their entire organization in their digital transformation through MVP activities.
• Pay attention to the team’s suggestions.
Because they focus on change over time, team members can provide as much information as any quantitative statistic about the progress of their digital transformation strategy, if not more. Managers should be encouraged to communicate frequently with their staff about changes to business processes.
The change is overwhelming. It is unpleasant and dangerous, and it can reduce production and efficiency. Understanding where staff are under stress can help determine where they are in the process.
• Focus on goals and change
Many digital transformation initiatives fail due to a lack of change in corporate culture and process management. Businesses should keep in mind that setting goals for digital transformation initiatives is not the same as setting goals for traditional projects. Businesses can achieve digital transformation by adjusting their perspective on change. For example, rather than approaching the project to complete it within a given budget and timeframe, companies should view it as a rebuilding of their structure.