Is your organization embracing digital transformation? And if you are not embracing it, should you?
Enterprises need constant evolution to address their changing business landscapes. Their IT spending is governed by the changes to meet their business requirements. Leaders want IT to be focused on meeting these requirements apart from the business results, innovation, and continuous improvement. Today, the need for acceleration of business activities, processes, and models to fully embrace the changes and opportunities of digital technologies is important deliverable and impact in a strategic and prioritized way.
There are a number of significant changes one can make to signal a shift through the organization. It’s not just about a chief digital officer or a chief data officer or a chief analytics officer. Actually, this digital thing becomes everybody’s job, everyone’s responsibility.
Culture and Business Models
Any change process starts with an awareness that there’s an issue in the organization. The style of management needs changes to keep up with these disruptions. Leadership needs to be around the office and to be more open to more junior levels in the organization, than they may have been in the past.
The key performance indicators (KPIs) and the measures must be defined, for individuals and for teams and for the entire organization and drive this change. These new KPIs need to be on a dashboard published and seen, and constantly changing with the culture and model, rather than the traditional approach which may not have changed much for a decade.
Organizations need to define their customer experience journey. How will their customers benefit and drive sales and growth. The top-line growth can be enhanced with Digital process enhancements in Selling, and predictive marketing. Customer Understanding can be measured using Analytics and Social Media Sentimental Analytics, for segmenting and reaching customers better. Analytics and tools needs to be connected back to KPIs to measure success and adapt to the changing culture and business Models.
What are the customer demands and expectations on the business, and the demands on technology to meet business needs. Customers demand increased technological capabilities combined with the desire for ease of use. Business leaders must constantly challenge their organizations to ensure this change can unlock productivity gains and significant competitive advantage all while delivering exceptional customer experience.
The key drivers of digital transformation are profitability, customer satisfaction, and increased time-to-market. The New business, focused on Digital Journey, must have both product and service augmentations, and have a digital footprint in the physical world. New business process must become operational to reshape organizational boundaries, redistribute authority, and enabler nimbler decisions taking to achieve success of all the key drivers for the ultimate success towards transformation.