Digital transformation holds power to disrupt the dynamics of technology leadership. Not surprisingly, it has risen to the top priority of CEO’s and corporate boards, strategies and objectives. It is now driven from the top by the CEO, rather than the IT department adopting technologies for decades.
The CEOs are now championing digital transformation showcasing their 100% buy-in. This will not only excite employees to work towards it holistically, but also ensure external stakeholders are aware of a genuine commitment to business transformation plans.
For a successful digital transformation, the roles and responsibilities of people in leadership positions need to be defined clearly. Lack of clarity and a plan could lead to issues, including infighting and execution gaps, leading to roadblocks in the digital transformation journey.
Allocation of Resources and Funds
It will cost money and time to transform any business digitally – small or large – effectively, and teams need to have access to resources and funding. It is the CEO’s responsibility to allocate the budgets as well as resources required.
When assigning responsibilities to business leaders, leaders need to discuss realistic financial models. Priorities should be clarified and set early in the digital transformation program by the leadership so that all employees and business leaders are aligned on prioritizing business goals.
To ensure optimal efficiency, resources need to be freed up from other departments, and this might mean removing top performers who are essential to achieving short-term business objectives. The leadership needs to articulate why these individuals are best suited elsewhere, helping the company accomplish long-term goals, helping business leaders assist their managers in reassigning responsibilities.
Remove Barriers in the Transformation Journey
Digital transformation strategies fundamentally change management programs, coming with the common obstacles – people resisting change or wanting to over-speed adoption of new things.
The CEO will need to intervene to make sure that the selected transformation leadership team is meeting with all members at each level of the business to discuss openly how the program is performing, allowing employees to raise any issues to deal with resistance.
It mandates the CEO to be a part of these discussions, acting as a critical member in the team aiming to solve challenges and issues. No two organizations are the same or have some operational problems; the barriers are different and demand individual solutions.
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A future-proof ERP to guide businesses on their DX journey
The humble ERP tools could be the CEO’s biggest ally in obtaining a birds-eye view on operations in their company, identifying the business gaps with the scope of exponential value addition.
By implementing and adapting a future-fit ERP solution, organizations easily incorporate new, emerging technologies like artificial intelligence (AI), machine learning, and Digital Citizens, into the day-to-day operation. This not only makes the digitization process more straightforward but also opens the door to enormous growth and efficiencies to identify innovation opportunities. A smart ERP system means enhanced control and efficiency, ensuring the CEO has accurate and real-time information to assist management in maintaining a firm grip on operations. It can provide the CEO with a consolidated and comprehensive reference of where the business currently stands with drill-down capabilities. Offering agility based on data and providing critical information required for in-depth analysis. It meets the CEOs need to react quickly to challenges and effortlessly by
Stats, including employee performance, weekly sales, and inventory levels are examples of immediately available data, indicating real-time growth or business change. As digital transformation involves re-engineering and re-structuring a company to making business future-ready, the CEOs must have visibility of future goals, and challenges. It is necessary to be agile enough to respond to challenges, opportunities, and market trends.