Though the pandemic has accelerated a significant deal of technological change, however, many such initiatives still fail
The on-going market crisis pushed businesses to focus on the run towards the digital infrastructure. However, certain technical blocks get in the way of digital transformation plans of companies.
Simply put, there is no assurance that all advancement of technology will be successful. CIOs realize its importance to streamline their digital solutions, but as per McKinsey, almost 70% of digital transformation plans fail. Some of the common reasons are:
Many companies rush towards digital transformation strategies even if they are not confident enough. This mainly happens as they set exceptionally ambitious deadlines, and the teams are not adequately briefed about the business goals.
In many cases, the business leaders also do not have clarity on the obvious challenges that may come up. This sums up the substantial lack of consensus within the team regarding the layout plans for strenuous efforts – leading to the less than satisfactory performance of technical initiatives.
Workforce working in silos often makes it more challenging for an agile and collaborative organization to operate effectively and in sync. Thus, it is imperative to make sure all employees are on the same page and realize the business challenges correctly. Besides, it is essential to understand the inter-departmental complications.
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For a business plan to be successful, it is vital to get business leaders and senior management aligned with the transformation journey. CIOs are required to be ready to manage dissimilarities in the vision of other CXOs in the company.
Simply put, it is crucial to have in-depth communication with all decision-makers and thoroughly evaluate the goals of the organization.
It is no secret that the right talent drive digital transformation – a team of skilled software engineers, branding professionals, and product managers- are needed. Thus, business leaders must put an effort to acquire, train, and retain the resources in order to achieve the desired outcomes.
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For a successful transformational, short-term projects and strategies are essential for delivering measurable results – aligned with the company’s vision and strategic intent. As per experts, it is better to avoid long-term programs plan without clear knowledge of the factors that could impact the journey- positively or negatively.
Furthermore, CIOs need to put a detailed view of the partner ecosystem as well as decide on the right technology partners – since they are an integral part of the program. Alongside this, an iterative, agile approach can help driving a fruitful transformation!
Marketing professional with experience in B2B and MR industry. Skilled in Marketing, Strategy Making, Copywriting and Content Creation, Sales, and SEO with excellent Communication Efficiency. Holding a dual master's degree focused on Marketing from IBS, Pune and ICFAI University.
