How to plan and execute on a business transformation using digital technologies? Read On!
Many companies have undertaken digital transformations in recent years, and there is a great deal of literature on how to best execute them. Digital transformation is the process of transitioning from traditional business practices to those that rely on digital technology. This encompasses all aspects of a company, including products and services, organizational structures and management concepts, and the way in which work is done. A successful digital transformation requires a clear strategy that governs the entire coordination, prioritization, and implementation of changes. By formulating such a strategy, companies can create a unifying framework for their many initiatives and better understand how they fit together.
Digital Transformation often includes the implementation of new digital technologies, such as cloud computing, mobility, and big data analytics. However, simply implementing new digital technologies will not result in a successful digital transformation. The technologies must be aligned with your overall business objectives and support your transformation goals.
Technology should enable a modern organization to transact with its customers online 24x7, using their smartphones or tablets. It should support and enable increased engagement with customers. It should help processes be more efficient, reducing the amount of time spent on low value added "paperwork" and, instead, allow increased time spent working on high value added activities. Technology should provide management with the information it needs to support evidence-based decisions – helping to identify optimizations that drive service costs down with improved efficiencies and reduced redundancies and supporting cost avoidances. It should give the board the insights, performance indicators and long-term projections it needs to provide effective oversight to the management.
Organizations struggle with technology that they currently have. Can it scale? Do systems provide remote access? Are there automation gaps and/or overlaps with processes? Is there data and function duplication that prevents process integration or a single source of reliable information? These are just some examples of technology inefficiencies but there are many more. CIOs must review the current state of IT in the enterprise and renew, redesign, re-configure, and sometimes fundamentally re-think how technology is used in support of business objectives.
This organization had a similar predicament. It wanted to move ahead but was hobbled with nagging problems that needed to be addressed. The leadership identified a Strategy that envisioned an integrated environment, enhanced user experience, improved operational efficiencies, eliminated redundancies, increased service delivery. These changes required a rethink of not just information technology but a fundamental rethink of the business - from processes to culture and everything between. That is the typical setup for a digital business transformation - envision the "to-be" business and use technology to get there.
This example details the transformation of a business using digital technologies. Conducted by a consulting firm, this example will help CIOs learn how to plan and execute a successful digital transformation.
This digital transformation strategy example will help you understand:
- What is digital transformation?
- What are the key elements of a digital transformation framework?
- What is a digital transformation strategy?
- What are the steps in transforming a business using digital technologies?
- What are the key components or sections of a digital transformation strategy document?
This example is a very thorough illustration of the digital transformation journey. It can help you create a digital transformation strategy for your organization. MUST Read!
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