5 Essential Steps to a Successful Digital Transformation

Featured article by Calvin Paige, Independent Technology Author

The digital age is upon us, and companies across the world must be ready if they hope to compete with their forward-thinking counterparts.

The next two years may prove critical for various companies in every industry, because the digital revolution is only set to become stronger – and an organization could become as weak as their digital strategy.

However, digital transformation (DX) is about so much more than technology. It is about a change in company culture and the performance of its core individuals. To become part of the digital age, it is imperative a business changes its mindset – or they may always be one or two steps behind their rivals.

1. A Strategic Priority

The full report “How to Win at Digital Transformation: Insights from a Global Survey of Top Executives” was published in November 2016, offering a joint survey conducted by Forbes Insights and Hitachi. The survey interviewed 573 top international executives in regards to their enterprise’s strategy to digital transformation.

50% of the survey’s respondents stated that digital transformation is now their top strategic priority, with 51% declaring they plan to significantly invest their money and efforts into new technologies over the next two years.

You must therefore identify how ready your company is for the digital age. If it isn’t, you must make it your number one priority, because your industry will change even if you do not.

2. Measure the Success of DX

Digital transformation is commonly driven by business outcomes. The survey discovered that 41% of executives believe new business models are the driving force behind digital transformation, which was closely followed by new technologies at 40%. You must therefore evaluate the company’s outcomes to determine an innovative strategy that works for you, the customer and investors. Visit bizagi.com to develop a strategy that can help you both survive and thrive in the digital age.

3. Big Data

For many years, companies have failed to realise the importance of their data and analytics, which can drive innovation, growth and customer service. It is only now that we have entered a digital age that we have realised data is easily a company’s most valuable asset.

The full potential of both data and analytics is yet to fully realised, with only 44% of the companies surveyed believing they are leaders in both data and analytics. What is unsurprising is that 91% of executives stated they have already witnessed an increase in revenue thanks to their use of data and analytics. So, if you are not using data to drive your company forward, there is no time like the present.

4. A DX Culture

Every aspect of the company must adopt a digital transformation culture. Unfortunately, many enterprises are failing to drive the approach to various teams within the department. Collaboration can, however, be the key to a successful strategy.

5. Develop Roles to Adapt to Digital Transformation

Many employees might be wary of digital transformation strategies. Take IT technicians as the perfect example. An employee who once racked and stacked servers maybe less than happy to become a system integrator. While other employees may be required to write scripts for robots to complete the jobs they once performed.

However, a company’s talent is just as important to a business as the technology it requires. One way to promote a DX culture is to create an innovation lab, which allows employees to put their talents to good use to introduce agile processes or new technologies.