Every business must take the digital transformation journey to survive. There are some crucial steps you need to take before starting the journey.
Many companies acknowledge that digital technologies change the world dramatically. However, a recent survey revealed that only 8% of respondents considered their company fully digitized. This just shows that the majority of businesses still have a long way to go on their digital transformation journey.
The future of technology may be uncertain. Yet, one thing is for sure: doing nothing is the biggest risk. Embarking on a digital transformation journey is no longer a question of “if”. It is now a “when”. Listed below are the tips you need to take before starting your digital transformation journey.
Identify what “digital transformation” really means for your company
There is no actual universal definition of “digital transformation”. Ask different business leaders about it, and you’ll get a different answer every time. This is not surprising as every business has a different target and audience. Moreover, there are so many technological advancements available, and the number keeps on growing.
Thus, the first step you need to take is to establish what digital transformation actually means for your company. Consider your industry, competition, customers, and other influencing factors. Afterward, use this information in establishing specific goals.
Assess your current capabilities
You also need to examine your current technologies. Many companies develop their strategy without considering their existing tech stack. This makes them vulnerable to either over or under-transforming.
Establish how you will go digital
Generally, you can either implement front-end or back-end transformations. There is just a lot of options to choose from on how you will go digital. For instance, you may implement robotic process automation (RPA). Transitioning to the cloud is also very popular. Your strategy might be a combination of internal and external transformations, or it might be one small change.
Whatever the case is, remember that any technology you install is a means to an end. Furthermore, never forget your end goal. You’re adding value to your customers and business, not just transformation for the sake of it.
Get the right buy-in
It is a must that you acquire executive buy-in. Doing so shows your commitment to the change. Moreover, it is nearly impossible to get your project running without executive buy-in. After all, the company’s executives will give you the necessary budget for the project.
However, getting their support might take time. Thus, it is best to start working towards it as soon as possible once you have a solid plan in place.
Ensure you have the right skills in place
One of the main reasons why transformations fail is a lack of skills. Thus, you need to focus on hiring people with the essential skills to drive your project forward. Otherwise, your initiatives will lead to failure and negative revenue.
Prepare the entire business
You also need to get the buy-in of employees. Humans are normally resistant to change. Yet, you can eliminate that tendency by being transparent and opening the lines for communication.
Begin your digital transformation
Most importantly, execute your plan! Make sure that everyone remains committed throughout the process.