DIGITAL TRANSFORMATION

Digital Transformation is a must-have for your business in this digitally driven world. If executed properly it can bring several positive changes to your business. It helps the organization to adapt to change, reach out to customers in a better way, and boost the efficiency of your employees. But unfortunately, many companies fail with their efforts and are not able to reap benefits out of transformation efforts.

In this guide, we will understand why Digital Transformation is necessary and how you can succeed with it.

What is Digital Transformation?

Digital Transformation is using digital technology to make the business process more efficient to grow the business. But this is, of course, an oversimplified definition of a concept that is evolving even at this very moment.

It changes the way you do business and helps you interact better with your customers. Organizations that are undertaking Digital Transformation has to:-

• Incorporate technology in and with all the aspects of the organization.
• Revamp old processes and include new ones by keeping the future of the organization in mind.
• Create a culture that appreciates change.

Digital Transformation is not just about technology, it is also about people associated with it. The real transformation will only come when people are welcoming towards it.

Why does Digital Transformation matter?

In the late ’70s, transformation efforts were executed at a pace that best suited the company. Overtime technological advancements have begun taking place at a rapid pace and today these efforts have to be executed quickly to stay ahead of the competition.

The crux of the matter is if you are not willing to digitally transform your organization then you will be replaced and pushed out of the business.

What are the benefits of Digital Transformation?

Numerous benefits are associated with your Digital Transformation efforts. Here are some of the most common benefits:

• Enhanced customer experience
• Low churn rate
• Ease of doing business
• Higher efficiency
• Lower employee turnover
• Better engagement rate
• Improved efficiency
• Reduced support costs
• Quicker response times

Why do some Digital Transformation’s fail?

According to Mckinsey, 70 percent of Digital Transformation’s will fail because of:-

• Lack of executive leadership
• Poorly defined goals
• Lack of definite roadmap
• Employee Resistance to change
• Poor talent acquisition
• Poor training facilities

How do you build a Digital Transformation Strategy?

When developing a Digital Transformation strategy, it is always to better to follow Kotter’s 8-step process:

• Generate a Sense of Urgency
• Build a Guiding Coalition
• Design a Strategic Vision
• Communicate the Vision
• Enable Action by Removing Roadblocks
• Generate Short-Term Success
• Sustain acceleration
• Guide Changes in Corporate Culture

What needs to be in your Digital Transformation change management plan?

Transformation is not a one-time thing but it is a continuous process. So, you have to prepare a change management plan for each stage that will define:

• How big is the change?
• Who is the transformation is going to impact?
• What is going to be a part of this new rollout?
• When should the initiatives be fully implemented?
• What dependencies are there?
• Who is responsible for each stage of transformation?
• Who is responsible for ensuring compliance post the rollout?
• What type of training will employees need for this change?
• How ready is the workforce?
• What metrics will determine the success of the new rollout?
• How this metric will be measured?
• What tools are available to support your Digital Transformation journey?

If you want to improve the technology adoption rate, you might want to use a Digital Adoption Platform.

The features of each Digital Adoption Solution can vary, but most of them include:

• On-screen guidance, or Walkthroughs.
• Integrated support or help content.
• In-app guidance and support.
• Detailed analysis of your software.

A software adoption tool guides users from one step to another and helps them navigate around the software in the desired way. It helps users to complete their tasks effectively.