From artificial intelligence (AI) and machine learning (ML) to cloud migration, the term “digital transformation” has become a catchphrase. The way the organization defines it is determined by the organization’s specific aims and objectives. However, in today’s economic environment, transformation is no longer an option; it is needed to remain competitive.
Many people consider launching a digital transformation program with a single significant project, such as an application rewrite or a new platform. True digital transformation, however, necessitates the integration of several programs, resulting in new business models that make it easier and more efficient to interact with products and services.
How do organizations achieve success and produce repeatable and measurable results with this in mind? Businesses should examine themselves as a whole, keep in mind that success is measured over time, and make sure that digital transformation projects are fundamentally connected with generating revenue.
Here are three strategies for companies to speed up their digital transformation efforts:
Bypass the pilot program and concentrate on MVPs
If the company’s digital strategy is still in the planning stages, they should consider skipping the pilot and launch numerous minimal viable product (MVP) initiatives right away. Since digital is here to stay, organizations may need to reconsider their business models and accept the prospect of failure in their digital programs. By skipping the trial phase and instead deciding to involve their entire organization in their digital transformation through MVP initiatives, they save time and money.
If an organization is falling behind in its digital activities, the only option to catch up is to abandon small-scale initiatives in favor of long-term strategies. Taking more risks at the start will help companies catch up to the competition faster in the future.
Pay attention to what teams have to say
Team members can contribute as much information as any quantitative metric regarding the progress of their digital transformation strategy, if not more, because they are focused on change over time. Managers should be encouraged to communicate with their teams about the improvements they are making to business processes on a regular basis.
Change is disruptive. It is stressful and risky, and it can lead to a decrease in productivity and efficiency. Understanding where their employees are under pressure might help them determine where they are in the process. Also, businesses should become accustomed to asking difficult questions and anticipate candid criticism. If their team members are feeling overwhelmed, businesses should be willing to make acceptable adjustments and show patience while they acclimate to the new situation.
If, on the other hand, their employees are feeling upbeat and productive, it’s an indication that they have made it through the most difficult part of the process and are ready to move on to the next phase of their strategy.
Shift focus to goals and change
Due to a lack of change in organizational culture and process management, many digital transformation attempts fail. Businesses should keep in mind that creating goals for digital transformation projects differs significantly from setting goals for traditional projects. Additionally, if executive leadership is not aligned on the project’s goals, then initiatives may never progress beyond the pilot stage.
When companies adjust their mindset towards change, they can achieve digital transformation success. Rather than approaching the project with the goal of completing it within a set budget and timeline, businesses should view it as rebuilding their framework.
It takes time for a successful digital transformation. It entails reorganizing previous business models in order to keep the company adaptable and relevant to their customers when new technologies emerge. Businesses need to set attainable short- and long-term objectives for each company unit.