However, simply the desire to digitally transform one’s company falls short of expectations, as the process is quite complex and time consuming. A lot of companies that embark on this journey fail to achieve successful digital transformation.
Why is this?
Because they did not know what they didn’t have a deep understanding of what digital transformation entails or what mistakes to avoid. ITM House has years of experience in digital transformation consulting and helped lots of companies avoid the associated mistakes or overcome the consequences. Below are the insights we have drawn to help you prevent the same mistakes at your company. Keep reading to discover how to digitally transform your business.
1. Transformation for the Sake of Transformation
One of the first mistakes that companies make when beginning digital transformation is confusion over what it is and why the company really needs it. The main point of digital transformation is improvement; however, it would be wrong to think any new technology guarantees it.
Digital transformation should be centered around the customer success and long-term goal of a company. Thus, the first question to answer when considering technological upgrade is what the goals are and what hurdles prevent us from reaching it. Not – how we can apply this new trendy technology to our business. It is a task of digital transformation leaders to communicate this idea to all the stakeholders and get answers to the right question from the higher management.
2. Incorrect Perspective
This mistake is directly related to the previous one. Many companies suffer from an incorrect perspective concerning how to do digital transformation. The latter is not limited to technology alone, but includes change of the company’s culture and structure.
Such misinformed tunnel vision prevents companies from applying the advantages that digital transformation provides to all aspects of business, including boost in innovation and sales. Taign a more open-minded perspective on what digital transformation includes, the company will be able to spon and leverage more opportunities.
3. Reluctance to Change
A new mistake that builds up on the wrong perspective is reluctance to manage deep changes and manage related processes. In particular, implementation of new technology will require:
- getting support of the employees and training them in using a new technology stack
- reconsideration of roles and responsibilities in view of the implemented AI and automation
- setting up new security standards and enterprise mobility protocols
Not paying due attention to these aspects and relying on the technology itself is a major mistake compromising the opportunity of transformative changes. Companies that fail to change policies and business practices around the new enterprise systems remain stuck in outdated methods and do not succeed in the new market conditions.
4. Not Getting Support of the Stakeholders
Digital transformation is often implemented as a top-down decision. However, to achieve the expected results, it is necessary to win the hearts and minds of all employees whose work is subject to change. Explain the rationale for change and encourage feedback and reflections from everyone engaged. To further encourage the active exploration and implementation of new tools, set clear goals, establish KPIs, and regularly celebrate micro-win on your way to digital transformation.
5. Lack of Analysis
Do not assume that a new enterprise system will work perfectly as expected from the very beginning. Instead, approach it as a minimum viable product that needs to be elaborated and adapted for perfect efficiency. To know what exactly works great and what needs to be amended, you need to continuously track and analyse all the related metrics. Companies that make successful digital transformation business cases are the ones that uses data to measure success and optimise performance.
6. Taking on Too Much, Too Soon
Finally, digital transformation tends to be a long, ongoing process. It’s not something that can be completed in a day or a few weeks, but requires both long-term planning and trial and error experimentation to discover what works and what doesn’t. Trying to get it all done in one go discourages companies and makes them give up. Don’t make this same mistake. Plan based on your capabilities and make your digital transformation step at a time.
Digital transformation can no longer be ignored. It’s something every company must do if they want to stay relevant in today’s market.
Desire isn’t enough however and many companies fail to reach success either because they don’t understand the details or don’t make digital transformation a part of their strategic plan. Leverage digital transformation and digital product consulting to avoid the common mistakes and grasp the opportunity to win market competition.