How Do You Develop A Digital Transformation Strategy?

Digital transformation (DT) is the introduction of modern technologies into all areas of a company, which leads to fundamental changes in the way the company operates and its value creation for customers.?

It requires company leaders to rethink their corporate strategy and operations, in order to transform them for sustained growth.?

One misconception about DT is that it is a goal itself. However, the real goal is to be increasingly competitive and serve their customers well in today’s digital marketplace. ? The achievement of this goal is possible with the adoption of new technology.?

DT is by definition holistic and requires integration and cooperation. Although it can vary greatly according to organization-specific challenges and requirements, there are a few constant common themes, existing case studies, and published frameworks that business and technology leaders should consider in DT.?

Because DT is different for every company, a ‘one size fits all approach to DT will not yield the same results for any company. While this article contains its own recommendations for different steps and considerations, business leaders should look for the most important common themes when developing their own DT strategy.?

DT enables companies to use modern technologies to automate processes, improve the customer experience, increase operational agility and flexibility and help workers become more productive.?

As industries and businesses evolve, DT converges with most, if not all, internal business operations and departments, and remains a critical part of corporate strategy to remain competitive, differentiate products and services, and increase efficiency.?

A DT strategy builds bridges across multiple domains in terms of information, data, processes, technology, human aspects, and more.?

Digitizing and capturing paper-based information can improve processes and enable knowledge workers to better serve customers, but getting the right information to where it is needed requires multiple integration steps. DT strategies begin by working through how to solve those problems.?

With the availability of new digital technologies, companies must think about how they would affect & integrate with their existing systems & operations. According to IDC Research, companies invested a staggering $6.3 trillion between 2018 and 2020 in some form of DT strategy. That number will only increase as companies look to DT as a mechanism for growth.?

When implemented right, DT solutions offer numerous benefits that make the transition time and effort worthwhile.?

Your company's IT strategy should be a personalized roadmap designed to literally transform your business to meet the challenges of today’s digital marketplace.?

It should also provide your customers with an experience that makes them want to continue to buy from you, as well as make your business’s internal processes more effective and efficient.?

In order to implement the strategy, companies need to plan their vision for success.?

Each company is different and all have their unique strengths and weaknesses, different needs, and require a different level of change in order for the DT to come out successful.?

It should start with a frank and honest discussion on what your objectives and business outcomes are, and what looks like a great shopping experience from the customer’s perspective. This should not be your interpretation of a great experience but what their experience buying from you has been.???

The DT strategy will outline your business goals and digital initiatives. The DT plan should begin with a detailed evaluation of your current business.?

Once the visionary components of a DT strategy are in place it is time to address the essential questions such as the state of the current customer experience. When evaluating digital solutions, ask yourself how they can more easily access your company’s products and services than currently, and how the entire digital experience can be improved.?

A DT strategy is crucial for companies of all sizes in today's age of digitalization. More and more companies see the necessity to change the usual way of working and to integrate a DT into the company's processes, systems, architecture, and most of all mindset.?

A company without a DT plan risks falling behind its competitors. When new technologies emerge, companies must avoid the pitfalls of adopting them too quickly before considering the impact on the most important person of all, your customer.?

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