Crucial Elements of Digital Transformation
There are components in business that ride the wave of time to have halo’s associated with it, when space, time and the event coincide, the companies that wear the halo accelerates its reach and hits the bull’s-eye. The resulting amalgamation of people, processes and ideas have time and time again celebrated success. This has been etched in stone, but what’s more contrasting and less surprising is that the components that create the halo is never the same and are subjected to disruption from around. There were innovations that elevated organizations and disruptions that have catapulted few others to the top. Particularly, the digital forces that once was touted as a disruption, which is now increasingly becoming the norm for the future.
The Whole Picture
Digital Transformation is not about islands of digitization like digital marketing, digital customer behavior or transformation from paper to digital media within an organization, rather it is a demanding process that requires considerable time, holistic thought and skilled people to guide the transformation process. The change has to be ideally driven from top-down, where the business leaders can put together the pieces of the digital puzzle thus enabling a rapid transformation in the business processes, activities and work models to move faster and efficiently to meet customer and business needs. This transformation of business by leveraging technology ultimately rests on the people who can drive the change into all layers of the organization.
Common Frontiers, Different Approach
Digital as the way forward is being experimented at varying degrees and varying pace by organizations. Some become more successful than the other to make this change a holistic one that touches the entire organization. The successful organizations show traits of digital maturity that touch different areas within an enterprise like Marketing, Operations, HR and Customer service; business models that unite these areas, and processes that embed efficiency through business automation, optimization, and management.
The foundation of successful transformation into the digital realm lies in organizational change, this change needs to address some key areas:
- For existing business, there is a need to take stock and understand why to transform, what to transform and how to transform. Once the reflection is carried out and you have figured out the answers to these questions, you should ideally start your mission to a digitally modified business. Improving on digital lines can help to have improved decision making by the use of big data, analytics, creating an effective corporate control, Risk optimization by automating manual labor, improved targeting with insights from customers, augmentation of traditional channels into digital and whenever wherever service propositions as well. Granted your journey would require much change from the status quo, and even you may not be as digital as a “Born Digital” company, but effective action can leverage the existing business, giving better reach to help multinational companies to truly have global operations.
- For an organization, Digital transformation process is multifaceted. Right from the beginning, it is essential that the organization has leaders with the potential to drive this change. The company has to make changes in their best practices in business architecture, BPM, continuous improvement, continuous innovation, crowd computing etc. Latest tools for robotics and sensors that can automate much of the mundane, so that the organization can focus on building lasting relationships with the customer. A mix of digital technologies, tools, and best practices can set the stage for Digital Transformation.
- The end part of the digital transformation is the customer experience. The models, the processes and the coherence of the activities carried out within an organization should ideally drive the customer journey with an emphasis on the physical and digital touch points. With Digital it is possible to effectively map this journey by understanding the way the customer interacts with business and brands, this invariably helps to find the best-fit solution for the customers. This is made possible through the combination of software, IoT, Big data, Mobile, CRM, Augments reality etc. In reality, a company may not be able to perform all these alone, it would have to seek partners that can run part of the show for them so that the companies can, in turn, focus on building their main offering.
The final touch points, like the interface, should invariably help the customer feel at ease and add touches of modernity. Looks aren’t everything, but when you and your competitor have the same product, looks, and a streamlined interface would come in handy
The Digital Wave doesn’t mean to throw away the method in which the business is being currently being conducted, rather it should dovetail and leverage the current best practices. When this is executed in the right way, the businesses can cater to a wider array of customers, speed to hit break even in shorter time, improve workflow employee efficiency within the organization. All companies irrespective of the segments they cater must invest proportionally so that risks can be mitigated and key opportunities are addressed in the most prudent way.