Wednesday, November 29, 2023

Three Truths about Digital Transformation CIOs Can’t Overlook

By Umme Sutarwala - May 05, 2022 3 Mins Read

Digital Transformation

Digital transformations are frequently undertaken by business executives and CIOs with specific outcomes and endpoints in mind. As technological innovation accelerates, it’s evident that organizations must constantly reinvent themselves in order to stay relevant and survive.

Enterprises are rapidly realizing the need of implementing a digital transformation strategy. According to IDC, three out of every four European firms will have digitally transformed and will have features comparable to native digital organizations by 2027 because if they don’t, they will be unable to compete in a new arena.

Here are three important facts to remember regarding digital transformation as firms consider their options.

Technology is only a facilitator, not a panacea

Many leaders plan digital activities for all the wrong reasons -some do it for the sake of vanity, claiming to be at the cutting edge of the technology revolution. New technology is doomed to fail when a company’s ambition to improve its reputation overrides its desire to address basic business difficulties or meet unmet customer or employee demands.

Leadership should start working backward, from the human requirement to the technology solution. What do the people for whom they are building this, desire and need? What will they do with the solutions that leaders are developing? What would make them love what their leaders have to offer? Leadership must meet their fundamental needs as rapidly as feasible, analyzing their usage, listening to their feedback, and iterating and improving.

Massive transformations in culture, operations, and people are required for transformation, with change and culture being the most difficult factors

Also Read: Key Success Factors for Digital Transformation

The human factor is one of the more difficult components of digital transformation, especially in legacy firms with deep-rooted traditions. There will undoubtedly be compartmentalized thinking, fear of change, competence gaps, and job security concerns in big businesses, all of which contribute to resistance to change. The capacity to adapt to a digitally savvy corporate culture, employee engagement, workforce skills, and painting a picture for workers on how they fit into driving this transformation are all critical to success.

According to a recent McKinsey study, having the management team clearly articulate a story for a change, getting business leaders to ensure collaborative efforts between business units. In addition, it ensures that standard operating procedures are revised to include digital technology that can double or triple the rate of success of digital transformations.

Digital transformation is an ongoing process

Digital transformation isn’t a one-time event. When a company embarks on a digital transformation journey, it commits to being agile and adaptive to change for the long haul. Adaptability is essential in today’s climate of continuous, disruptive change.

If the pandemic has taught companies anything, it’s that flexible enterprises can seize fresh opportunities ahead of their competitors and survive interruptions that others can’t. The constant endeavor of digital transformation is what will construct resilient firms positioned for future prospering as the speed of change continues to accelerate. At the end of the day, top-level leadership is all about creating organizations that can internalize and thrive in the face of change.

Technology will continue to evolve, but new technology will be irrelevant unless human needs are addressed, whether they be market requirements, employee needs, or needs based on what the competitors are doing. These requirements drive continuous transformation; technology is only a mode of transportation.

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Umme Sutarwala

Umme Sutarwala is a Global News Correspondent with OnDot Media. She is a media graduate with 2+ years of experience in content creation and management. Previously, she has worked with MNCs in the E-commerce and Finance domain

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