Today, digital transformation is the talk of the town. Many emerging organizations are noticeably charging full steam ahead when it comes to digital transformation efforts. Seemingly, everyone wants to go digital. But why has digital transformation become a hot topic in this rapidly evolving technology world? What does it mean for enterprises? Organizations across multiple sectors are now being cognizant of the transformative power of digital. While an increase in the value of digital’s role comes into notice, many organizations still struggle to take their transformation initiatives to make great strides to which we’ve previously discussed the best practices to add digital transformation into a business.
This topic aims to help business leaders to take a deeper look and make strategy into how to accelerate their efforts at transforming digitally.
Realizing the Potential of Digital Transformation
Many business officials view digital transformation as an implementation of digital technologies to build more sustainable relationships and develop a better understanding of customers’ unmet needs. Taking ‘digital’ into consideration, organizations often meditate on discovering and gleaning new frontiers – using novelty and technologies to boost their business. In a nutshell, it’s about exploring new possibilities of an existing service to design and yield a better experience for your customer.
“According to a Tech Pro Research survey, 70% of companies either have a digital transformation strategy in place or are working on one.”
CIOs and CEOs Embracing Digital Transformation
CIOs and CEOs are progressively leading to digital transformation efforts. Currently, the strategic digital transformation is moving beyond IT to jolt the entire enterprise, streamlining how companies work, standardize, and thrive in the digital economy. Ownership of digital efforts is splaying to the C-suite and cross-functional groups that have the essence of the organization. CIOs generally sponsor digital transformation efforts and are gradually becoming business partners – who stimulate significant digital investments and adopt organization-wide.
As companies strive to gauge their digital efforts rapidly, the winners in this digital transformation phase will be enterprises that not only comprehend but also implement the available technologies and strategies.
How to accelerate digital transformation?
The following are the six ways for companies to build and accelerate digital transformation success.
Embed Advanced Analytics
It’s indispensable to take business processes and transactions as ‘information flows’ and to embed advanced analytics precisely in them – this elicits many benefits along with elevated productivity, quicker decision-making, cost reduction, and more active involvement of customers, employees, and partners. Essentially, it all revolves around making the analytics capability to be so vital to the company’s operation that it fits perfectly as a business model.
Enable Digital Transformation Through App Intelligence
Apps should be specifically targeted. Customers always look for intelligent services that offer more relevance to every bit they bring to fruition. Taking that into account, you need to gain customers’ insight and create services for them gleaned from an advanced digital business platform.
Develop new ways to transform your traditional IT in order to deliver analytic-intense data streams allocated at the edge and in the cloud – this indicates the need hybrid IT, which extends the overall surroundings. Therefore, mastering hybrid IT is a crucial step in transit to digital transformation and get ahead.
The innovation in the workplace is irrefutable and looking ahead to the future, it’s evident to say that it will turn out to be more about the ‘work’ and slighter about the ‘place’. Workers will come together in teams to share their expertise on information-based projects, abetted by advanced collaboration tools. Also, it is worth noting that the ability to be prolific while building on the knowledge from others will be the basic ingredient in attracting new employees when qualified digital workers are in short supply.
A New Perspective on Security
The potential for digital transformation is immense when it comes to delivering new business value; however, it comes with new security risks and ultimately, requires more innovative responses. So, kick off with creating roadmaps for digital transformation and enterprise security. Moreover, build a strong security team for your digital transformation journey. Make your security processes ahead of the curve. Lastly, ensure you have accurate information technologies to do the job – primarily, artificial intelligence and machine learning to detect irregularities.
Adopt a ‘design for operations’ approach for software development and delivery in order to increase agility and accelerate digital transformation. This data-driven approach integrates analytics, lean practices, and intelligent automation at a large scale. To match the market’s demands, adopting a DevOps culture is necessary. It accelerates the time to market, apply incremental improvements apropos of the dynamic environment, and create an efficient development process.
If you are looking to accelerate your company’s transformation into a digital business, now is the right time for it! Identify the opportunities, correlated with mastering information flows and data markets, and restructure for the new digital realities; as they continue to grow significantly in many companies today to bring the great user reality. Bearing that in mind, change your culture, empower your employees, and develop high-performing teams – using all of the new tools available within your new digital technology foundation so you can deliver new business outcomes.