Global Pandemic Boosts Digital Transformation Adoption Globally

Global Pandemic Boosts Digital Transformation Adoption Globally-01

To evaluate any organization’s progress after adopting digital transformation project, CIOs need a well-laid-out road map, crystal clear objective, and of course, concrete goals to mark the milestones.

The global pandemic and hybrid work model made the pace of digital transformation a key performance metric and made it essential for enterprises to embrace and accelerate digital. CIOs now measure the success of digital transformation against metrics that align with business goals. Covid-19 has pushed companies over the technology tipping point and transformed business forever.

Here are some essential critical digital transformation metrics that hold value for enterprises across industries.

Also Read: Top Strategic Technology Trends for 2022

  1. Operational efficiency

One of the most important parameters to measure the success of digital transformation projects is understanding operational efficiency. The technologies that then become a part of the business operations ensure complete transparency, agility, and an efficient track towards meeting business and growth goals. The success of digital transformation lies in reducing operating expenses.

  1. Employee engagement, productivity

Enterprises must automate critical processes so employees can focus on value-oriented activities rather than transactional and repetitive, manual, repetitive activities. They also need to enable seamless collaboration within the organization as its partners and third-party service providers. Employees need to be able to access contextual information anywhere, anytime.

  1. Customer longevity

Gaining new customers is essential but retaining them, building loyalty, and bringing down churn are equally important. Improving customer experience depends not only on the front end but also on integrated interface that process customer requests seamlessly. The ability to cross-sell and up-sell and understand customer retention or lifetime value decides the digital transformation success.

Also Read: Top Strategic Technology Trends for 2022

  1. innovation Speed

Organizations that can innovate quickly by responding to new market opportunities and customer demands remain relevant in the competitive market. Leaders need to focus on building and investing in capabilities. The insurance industry is witnessing an accelerated adoption of digital, and it’s vital to assess the business value of the new digital services. With technologies like AI and Machine Learning, predictive analytics will service their customers faster and be in the winning category.

5. Agility

Agility is no longer limited to IT teams and software development. Organizations succeeding at digital transformation initiatives boost related groups with specialized skill sets. Cross-functional teams deliver better business value and more profit with fast speed.

Digital transformation is essentially a dynamic process, and there is no fixed formula. One should experiment with techniques, people, technology, and resources. With a vast portion of the workforce now, remote digital technology is the only way work gets done. It is even getting the problem-solving focus. Some other areas of digital transformation efforts that COVID-19 pushed higher on CIO agendas are:

  • Furthering the reach of customer support with tools such as chatbots
  • Automation tools for resilience reasons
  • Radical housecleaning of redundant or conflicting systems

The prevalence of legacy technology in enterprise IT hinders CIOs’ ability to embark on a digital transformation strategy successfully. Legacy tech can become a costly barrier to transformation.

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Swapnil Mishra is a Business News Reporter with OnDot Media. She is a journalism graduate with 5+ years of experience in journalism and mass communication. Previously Swapnil has worked with media outlets like NewsX, MSN, and News24.