Key Steps to a Successful Digital Transformation Journey
8 Steps to Digital Transformation: A Coex Strategy
Every modern business relies on technology, but implementing that tech across the business is a hefty project. With 70% of digital transformation projects destined to fail, a well-defined strategy can be the difference between business growth and failure.
Digital transformation involves a considerable amount of planning. From resources to migration strategies, IT teams face a juggling act of fast, effective transformation without disrupting daily business operations.
As experts in digital transformation success, Coex can guide your journey. Get it right the first time with the following steps.
Digital Transformation Strategy
1.) Planning (and Pre-planning)
Planning is important, obviously, but successful digital transformation requires planning before your planning. During this stage, set out your goals and objectives, which should be measurable and specific (think SMART).
Once you’ve identified the reason for your transformation, think about how you will achieve it. You’ll need to revisit these goals periodically as your transformation journey progresses.
2.) Resource Allocation
Your available resources will affect your strategy, so document them thoroughly. Resources to consider include people, technology, time and budget.
It’s this stage where you realise you need to bring a digital transformation expert on board. Or you may need a current employee to take on a project management role. Or you may need to increase your budget…
3.) Stakeholder Initiation (get on board)
Stakeholder involvement is critical for most projects, so get this sorted early to avoid friction. Speak to executives, board members and other teams affected by your digital transformation plans.
A key feature of transformation is that it affects the whole business, so consider creating a project team with a representative from each line of business.
4.) Technology Stack
One of the most common digital transformations we see in modern businesses is a migration to the cloud. But what your business needs is unique, so consider what tech you need to reach your goals.
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5.) Customer Alignment
For any customer-centric business, your technology should align your business goals with your customer needs. Get feedback from your customers throughout your digital transformation journey and keep your plan in line with what they want.
6.) Change Management
Few transformations invite employee resistance so much as those that involve technology. Outline strategically how you plan to implement changes and manage your employees’ concerns.
Reiterate the way technology will make employees' jobs easier to mitigate concerns of automation-related job loss.
7.) Data Migration
Migrating your data is the last active step of your journey. It’s critical in adopting your new tech stack without disrupting processes or losing data.?
Your migration strategy needs to consider the following:
8.) Analysis and Maintenance
Finally, you need to analyse how your transformation went, and how it will move forward. A key difference between digital transformation and other types of transformation is that it is ongoing.
Technology is constantly changing, and your transformation continues along with it. Bearing this in mind, your analysis should shed light on how to pivot, scale or continue with your project.
Coex: Your Digital Transformation Guide
Digital transformation is an essential part of modern business. Think of it as an ongoing commitment to using the best technology available to ensure your customers always have the best experience possible.
For expert guidance on your transformation strategy, reach out to the Coex team.