Digital Transformation – Blog by Keisha Rooplal – Corporate Account Exec – CTTL
Recent findings from the MIT Centre for Business show that companies that have embraced digital transformation are 26 percent more profitable than their average industry competitors. Digital transformation can be an incredibly complex process as it’s not just about *Digitizing* your BP’s.
Here are some tips to help you.
Because digital transformation will be different for every organization it’s sometimes difficult to give a precise definition but in broad terms, digital transformation is the integration of digital technology into all areas of a company resulting in fundamental changes to how business operate and deliver services to customers. It also a cultural change that requires organizations to continually challenge its current business, and understand that failure is part of the process of change. This sometimes means walking away from legacy business processes that companies were built upon in favor of relatively new practices that are still being defined to support the changing needs of customers.
Choose the right digital transformation Strategies :
According to a survey from Progress Software, 96 percent of companies see digital transformation as important or critical to the development of their business. Furthermore, 86 percent say they have two years to embark on the journey to digital transformation before suffering financial or competitive consequences. Given the threat of losses or a corporate disadvantage, many organizations are racing to TRANSFORM.
Invest wisely in technology :
Digital transformation means different things to different organizations, and spending alone is not going to guarantee success in this Transformation. There’s no one size fits all solution. While one company may see immediate benefits from implementing cloud infrastructure, another might want to look at another path first.
Convince your Business Stakeholders :
It’s crucial to bring your stakeholders on board–because successful digital transformation strategies change how businesses work. Helping them understand the reason for the business’s investment will make it easier to overcome any potential resistance to new processes.
Companies must understand that digital transformation is a journey that is never complete. New technologies are being launched all the time—from robots that complete tasks on the production line quicker than humans, to machines that can fix equipment problems without intervention. All of these bring with them multiple possibilities.
As Charles Darwin once said, “It is not the strongest or the most intelligent who will survive but those who can best manage change”.
Contact CTTL Ltd (CTTL) Ltd for a NO COST DT Assessment. It will be the easiest way to make
sure your Digital Transformation Plans are in the right alignment.