Forbes claims that “84% of companies fail at digital transformation.” Today, when the world is adopting digital at lightning speed, enterprises cannot afford to fail at digital transformation.
Slowly but surely, every company is trying its best to adopt best practices in order to increase productivity and maximize profits. If you are planning to go digital, make sure you are among the 26% of companies that have successfully implemented digital, and not among the 84% who have failed at it. Here’s how to get started:
Have a full-proof strategy
Enterprises fail at digital transformation because they think that a website and a few social media channels equate to successful digital transformation. It’s more than a few tweets, a blog, and a website.
For a successful digital transformation, the way your organization functions needs to be changed. The traditional methods of working need to be changed. The way your employees are spending their time needs to be changed, and where your employees are investing their time needs to be changed.
Combine all the elements mentioned above. Have a powerful presence on the digital platforms as well as change the way your organization is working. Automate repetitive tasks. Let technology take the burden off your employees’ shoulders so that they can concentrate on the most important tasks.
Have a leader who understands digital
You cannot expect for digital to work you unless you have leaders who work for digital. This does not refer to leaders working towards digital presence and strategies. You can have a team of a hundred people brainstorming on how to do it right. But if none of them understands how to subtly but effectively implement those strategies, then no ideas are going to help the organization progress. Instead, have at least one leader who knows digital inside out and then tiptoe towards the transformation.
Focus on internal communication
IDC has predicted that “70 percent of digital transformation initiatives will ultimately fail because of insufficient collaboration, integration, sourcing or project management.”
Insufficient collaboration, integration, sourcing, and project management are all outcomes of poor internal communication and coordination. When you hire experts, make sure the strategy is well communicated with the wider organization. Make sure the new and the old collaborate and work together towards a single goal.
Don’t rush into it
Many companies expect overnight success. That’s not going to happen. Adopt one strategy at a time or a handful of strategies that work together. To begin with, you can start with workflow automation and application integrations. This will automate repetitive tasks giving your employees more time to concentrate on other parts of digital transformation. Also, the strategy you implement initially may not give you the desired results. You will have to keep experimenting and then mix and match all the bits and pieces that have worked in the past.
Whenever a company starts a new project or an endeavor, it always studies its competitors. Though it proves to be a smart move most of the times, it does not always help. There is no guarantee that what is working for others will also work for you. Also, imitating competitors will never let you create a unique identity.
Don’t shoot for the moon
Every business’ ultimate goal is increased sales. But that’s the finish line. Let the goals be such that they gradually lead to an increase in sales. Start by streamlining internal processes, improving collaboration and internal communication. Steadily, move on to building customer relationships. Then, jump onto the digital bandwagon with a final strategy comprised of what you have learned along the way.
Digital Transformation is not rocket science. If you hire the right staff and invest in the right platforms, this new-age style of working will quicken the pace of your success.
To build a strong foundation for your digital transformation, try Built.io’s ready-to-use application integrations.