Digital Transformation is happening everywhere you look. It is impacting businesses of any size, in any industry, any market and every geography.
Many organizations recognize the importance of digital and the need to change. Unfortunately there is a lot of confusion about what digital transformation is and how to carry it out.
Organization need to avoid following 5 mistakes, while going on the route of Digital Transformation.
1. Focus on technology than business and customer.
Many organization still believe that investing in latest and greatest technology will be quick path to Digital. But they forget that technology is just an enabler. Focus on entire business process, map the customer journeys with pain areas and aim to smoothen the interaction.
2. Digital Transformation can be carried out by existing resources by the way of ad-hoc allocation.
Many organizations are still using their existing teams and expects them to do the magic. While it may be possible to delivery small successes, you need to have experts who have sharp focus and experience of digital transformation to actually do the job.
3. Digital Transformation can be driven by line managers.
Lack of executives support will show some incremental changes but digital agenda should be driven by senior most leaders, even board of directors & CEOs of the company. Only then it brings the required seriousness. IT & Business alignment has to come from the top.
4. Ignore the learnings of other industry leaders.
in the Age of Customer, Digital Transformation is no different than any other change. It is more important to understand where you stand, how others have done it, what challenges they have faced and learn from them.
5. Ignore digital transformation as just a hype.
Some of the companies still feel that Digital is just a fad or hype and will die on its own. There are industry examples of Kodak, Blockbuster, HMV, Borders who ignored this phenomenon and went bankrupt due to competition.
Digital moves too fast to wait. If an organization waits until best practices are established, it will be too late.
Organizations that adapt, evolve and exploit this new digital reality quickly will thrive, while those that do not, will be lost to the sands of time like Dinosaur!!