A CEO's guide to accelerating Digital Transformation
The world is changing and it is changing fast. With rapid digitalization, customers’ expectations for better and innovative experiences have been growing. This has forced businesses to transform themselves and rethink their service delivery to meet these demands. However, this transformation process cannot be slow. Organizations and its leaders need to keep up with the pace at which the world is evolving if they want to sustain their position in the market and grow.
So, how can the executive leadership accelerate their organization’s digital transformation journey to meet the ever-growing customer demands?
Establish Strategy: Focus on end business outcomes
As a digital transformation leader, it is crucial that you start with an end goal or a business outcome in mind. However, as you start working on the roadmap and implement the necessary technologies or processes, it is easy to get distracted and get caught up in buzzwords or go too far with doing things differently, and ultimately lose sight of the vision and business outcomes that you had set for your digital transformation journey. Market leaders do not jump at every technology that crosses their path. On the contrary, they start with business outcomes in mind and work backwards to choose the technologies that fit their goals and which will help them deliver an experience that is smarter and better.
Enable Change: Invest in your organization’s people and culture
While technology and processes play an important role in transforming your business operations and service delivery, it is truly the organization’s people and culture that accelerate this change and turn it into business reality. Their ability to think & embrace digital, and the drive to digitally collaborate in your customer’s journey play an important role in driving transformation. Hence, it is essential for organizations to invest in its people and enable them to participate in your digital transformation journey. Finding people with the right attitude, investing in their training and development, and designing programs that recognize and reward employee’s contributions to customer experience go a long way in retaining talent as well as creating an organizational culture that embraces change on an ongoing basis. Ensure your employees understand that becoming digital is not a new program but the new way of executing business going forward.
Maintain Focus: Keep your customer at the center of your business
Always remember that your customers are the final decision makers for your business. In today’s digitally-driven world, it doesn’t take too long for them to decide whether they should continue buying from you or turn to your competitor. This means every interaction your business has with your existing or potential customers, be it through any channel, should be meaningful and dynamic. Hence, it is critical for organizations to design their processes in a way that boosts customer experience and retention. Adopt modern technologies in concurrence with evolving buying trends that provide your customers with unique capabilities that save time in their day, add value to their business, and deliver services when and how they want to receive them.
Acquire Digital Capabilities: Simplify and Modernize IT
Speed is the currency of digital transformation and to achieve it, you need to build and manage an environment capable of ingesting and analyzing data, deploying applications, building dynamic ecosystems and more – doing this all in real-time, securely and while maintaining compliance. Investing in technologies and processes that enable digital transformation doesn’t mean you’re making your systems more complex or complicated. In fact, traditional and complex IT environments fail to support today’s operational demands where new software functionalities must be deployed frequently and in a flexible manner to meet your customer’s needs. Therefore, digital transformation leaders should also focus on simplifying and modernizing their IT environments by adopting digital differentiators such as cloud-based systems, predictive intelligence capabilities, social & mobile enablers and DevOps practices to design leaner and more agile business processes.
Stay Ahead: Look for continuous improvement
Digital transformation is a continuous and ongoing process. Moreover, market conditions, business priorities and customer requirements keep changing. Organizations cannot end this journey by simply implementing a certain process or technology and calling it a day. With every innovation, the previous process or technology becomes obsolete. Successful transformation leaders are those that are continuously exploring the ways they can improve their organization’s processes to deliver superior customer experiences on an ongoing basis. Establish a set of key performance indicators that demonstrate the health of your digital business and keep raising the bar.
Digital innovation is changing the world faster than we can imagine. The only way that organizations can keep up with this speed is by thinking outside in, outlining key business outcomes and working backwards to adopt agile methodologies and right mix of technology, which will ultimately help them secure their market share and stay ahead of the curve.