Path to successful Digital Transformation

Digital transformation means integrating digital technologies into all operational areas of a company. It involves switching to virtual technologies and replacing manual processes with digital, automated processes. Companies are transforming their corporate culture and digitally repositioning their business to meet changing market requirements.

It has become a mainstream concept in 2021 as companies try to reach their potential customers online. There are many benefits of digital transformation in terms of conversions, lead generation, and sales, but not all digital transformation efforts are crowned with success. Teams are still hesitant to develop and implement a digital transformation strategy because the digital space is uncertain and constantly evolving.

Tips for a successful digital transformation

Be specific about your goals for digital transformation; define a strategy!

There is no single solution or fixed path you can take for digital transformation. You can not just implement a process and be done with your digital initiative. Instead, you need to define your requirements, goals, and long-term vision in detail.?

You need to set a long-term strategy and define what you want to achieve by implementing digital transformation.

1. Do you want to make profits or open up new markets??
2. What new digital products do you need to design??
3. What is the ROI you expect??

You need a clear strategy, and you need to communicate it to your team members. You can also look at current technology trends and other companies that have successfully gone digital in your industry to determine your needs. Typically, companies want to reduce time to market and improve customer relationships through digital transformation.

Check and update your tech stack!

Be patient, don't rush and jump in buying 3rd party software without tech stack consolidation.

Once everyone is on board, take stock of your organization's tech stack and resources before you start planning. This step will help you identify your strengths and weaknesses, your company's technical competencies, and gaps in the system. By listing all the tools you have invested in, you'll understand how to make your strategy more effective. Companies need to replace their current systems with better technologies in most cases. Digital transformation is not just about reaching more customers; it's also about companies investing in technology that supports their employees for the long term.

Clear communication is essential.

Clear communication is required during digital transformation. You need to ensure that your overall digital strategy is consistently communicated to all employees to reap its benefits.

You need to be able to explain why specific processes are being implemented and what the end goal is for stakeholders. Teams need to communicate with each other to figure out the issues and work toward solving them as they arise. Use communication tools to facilitate communication between teams and keep critical information accessible.

A data-driven approach is a good path.

Your organization should be open to change and must devote time and resources to collecting and analyzing data. Regularly monitoring and analyzing data and metrics is essential as it will drive your decision-making regarding your future digital initiatives. Data will allow you to understand your customers better and provide them with a personalized experience in the future.

If you identify specific issues with your digital strategy, it's best to collect data on that particular area and take the necessary action based on the findings.

Select the right tools

Now when you defined an organization digital transformation plan, you need to invest in these types of tools:

• Cloud computing:?tools enable organizations to maintain, manage, process, analyze, secure, and store their data on Internet-based servers. These tools update your aging IT infrastructure and allow you to integrate technologies such as Artificial Intelligence (AI), Machine Learning (ML), and the Internet of Things (IoT).
• Automation: this allows your staff to focus on essential tasks while computer systems manage manual and tedious tasks.
• Data analytics: from consumer behavior to financial, sales, and marketing processes, advanced analytics help companies gain all the insights they need. They also encourage companies to break down silos so teams can respond to changes and challenges in real-time.

Outsource operations like development/project management

When crafting your digital transformation strategy, you need to think about streamlining operations, and it's a good idea to outsource your digital initiatives.?

Assess your team's capabilities and determine in advance the methods and procedures that will be used to improve workflows. Outsourcing digital transformation helps you minimize risks and is cost-effective, especially for startups. You have access to scalability, industry experts, and high-quality resources when you outsource.?

In addition to these benefits, your team has more time to focus on the core business while the vendor company takes care of your digital transformation.

Contact us if you need help/advice.

Lumen Spei ltd. can help you with all these topics, from defining a long-term strategy to selecting the right tools to manage the entire end-to-end digital transformation. Contact us at: [email protected]; [email protected] or book a free 30 minutes meeting.?

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