Beyond the Hype: What Really Matters in Digital Transformation
As more and more businesses rush to digitize, many find themselves blending into a homogenous landscape. To stand out, understanding and overcoming common pitfalls is crucial. Below, we outline actionable insights to help you see what factors influence the success of an organization's ability to digitally transform.
An organization’s ability to effectively transform hinges on three key factors: People, Speed, and Focus.?
A Forbes article underscores this point, stating that technology accounts for only 20% of the digitalization equation. Leadership, agility, empathy, and resilience are the true drivers of successful transformation. As Mario Domingo, the Chief Technology of UBX emphasizes, "What makes transformations really succeed is people. Technology is easy, you can train for it, you can buy it. But it’s hard to get people to embrace the change that’s coming." You have to focus on building a culture of agility, empathy, and resilience.
Involve Your Employees: Digital transformation is a cultural shift. Invest in employee training and development to foster a mindset of innovation and adaptability.
Put Customers at the Center: Migrating customers to new business models requires thoughtful planning and execution. Just as employees need training, customers often require education and support. Effective communication, infused with human empathy and awareness, is essential for this transition.
2. You will most probably fail if you don’t have the bias for speed
Traditionally, many organizations have fallen short in their digital transformation journeys by overemphasizing tools and technology. The true measure of success lies in creating tangible shareholder value. This demands a relentless focus on speed and agility.
Mario Domingo, CTO of UBX, aptly captures the urgency of digital transformation: "Two years or 24 months is like forever in today's modern digital world. The ideal transformation program runs in 100-day sprints."
Embrace a Culture of Speed: Implement agile methodologies and adopt a "fail fast, learn faster" approach. 100-day sprints enable rapid iteration, allowing businesses to quickly identify successes and pivot when necessary. UBX, a driver of digital transformation in the Philippines, provides exactly this solution through the 100-day plan.
Leverage Expert Guidance: Inject fresh perspective by partnering with experienced consultants of digitization and agile methodologies. Their unbiased view can accelerate progress and challenge internal assumptions especially when dealing with complex legacy systems.
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3. Better business results begin with a clear vision
In failed transformations, you often find plenty of plans, direction and programs, but no clear, long-term vision. Understanding the digital landscape and where you fit in this industry that is changing by the minute is important. As early as now - think of the why. Many organizations struggle with this fundamental question.?
Define a Clear Vision and Strategy: Start by analyzing your internal strengths, external market trends, and competitors. Develop a compelling vision that inspires your organization and set clear, measurable goals. Finally, create a detailed roadmap outlining the steps to achieve your vision.
Communicate the "Why" Often: Continuously communicate the vision's purpose and impact. Use clear, consistent messaging and key repeatable messages across all channels to embed the "why" deep into the organizational culture.
4. Understand that external barriers exist
The Philippines' digital transformation is hampered by infrastructure gaps, high ICT costs, and security concerns. Socioeconomic disparities and limited digital access further hinder progress. The local startup ecosystem lags behind ASEAN peers, with insufficient early-stage funding. Additionally, despite high internet usage, digital adoption among MSMEs is low, partly due to high technology costs and difficulties in replacing legacy systems.
Address Gaps through Collaboration: Collaborate with government and industry partners to improve digital infrastructure, boost funding, and cultivate a digital ecosystem collectively.
Educate the Market: Raise awareness about the benefits of digital transformation among businesses of all sizes. Offer training and support to help organizations adopt new technologies.
Ultimately, digital transformation is about creating lasting value which demands a holistic approach that considers people, speed, and focus.
For expert guidance and a tailored approach, contact UBX to develop a roadmap for your transformation. Talk to us today.