As digital transformation becomes central to the success of a business, many organizations are rushing their digital transformation efforts. But, doing so without a strategic plan also comes with consequences.
Digital transformation has emerged as a critical aspect for organizations to survive in today’s uncertain environment driven by the pandemic and multiple restrictions in place. While most organizations have poured and skyrocketed their investment to support their digital transformation initiatives, only a few were successful. In fact, as per a study conducted by Boston Global Consulting, less than 30% of the digital transformation initiatives succeed.
This highlights the harsh reality of implementing digital transformation without having a strategy. The situation only gets worse with tech leaders under pressure to accelerate their digital transformation to stay competitive in the marketplace. Dealing with these requires organizations to have a roadmap that is flexible to their continuously evolving needs.
Here are a few steps IT leaders can take to successfully accelerate their digital transformation initiatives:
Identify the right technology
With organizations incorporating a hybrid approach, there are not many options to fully assess and review the options. However, it does not mean that organizations will have to keep on using an option that may not be working for them. They still have the time to evaluate to assess what meets their requirements. Additionally, organizations should not consider technology for remote communication and collaboration as a temporary fix. Instead, they should continue to seek out ways to utilize technologies for improving productivity as well as providing more flexible working opportunities.
Assist employees in the transformation process
Employees play a critical role in the entire digital transformation process. Therefore, to ensure the success of digital transformation initiatives tech leaders should involve them in the process from the beginning. Organizations should start by creating a good transition playbook. Moreover, IT leaders should incorporate steps in the guidebook that their employees can easily understand and embrace.
Another effective way is by training their employees. This means helping the team understand the requirements for digital transformation. Employee collaboration alongside a good dialogue is an effective way to help employees move through the transformation phase.
Encompass the exchange of secured data
The success of any digital transformation initiative depends heavily on data. Hence, IT leaders are keen to introduce more data to their business processes. IT leaders should consider using cloud-based marketplaces for buying and selling valuable information assets. Such secured data assets make it possible for enterprises to conduct analyses of encrypted data without the need to decrypt it first and compromise privacy. Incorporating this approach enables multiple enterprises within the same industry to collaborate to address common issues. Last but not least, integrating high-quality data allows any organization to refine its processes to deliver improved business outcomes in the long run.
Paying attention to the team’s feedback
By listening and paying attention to the employees’ feedback, businesses are in a better position to know if their adopted digital transformation is effective. The team members are likely to be correct about the progress of the digital transformation. Decision-makers can also benefit by understanding what changes the already adopted transformation strategies require. If the employees report any issues and frustrations, IT leaders should quickly incorporate this feedback to make the necessary changes.