Digital Transformation

The Digital Transformations Buzz

What makes some digital transformation projects succeed and others fail? Is it completely random or can company leaders influence the outcome and create business value with a new digital ecosystem.

According to a study by IDG Communications, 89% of enterprises have plans to implement or have already implemented a digital-first business strategy. A survey discussed in the Wall Street Journal shows that directors, CEOs, and senior executives consider digital transformation risk a primary concern. Despite that, at least 70% of digital transformation efforts do not reach completion. The result – $900 billion in wasted financial resources.

Digital Transformation Success

The problem is that most digital technologies provide possibilities for efficiency gain and customer intimacy without addressing human capital issues such as developing a growth mindset and adaptability to change. Without adaptability and improvement in faulty processes, digital transformations only magnify existing flaws. To navigate through these challenges, here are five key practices recommended by HBR to lead organizations through successful digital transformations.

1. Figure out business strategy before you invest in anything.
2. Leverage Insiders.
3. Design customer experience from the outside in.
4. Recognize employees’ fear of being replaced.

Getting your Company Ready to Transform

Organizations have tried to improve the implementation process with digital experiments such as innovation labs and new digital products. However, how do you take your organization from being engaged in digital to becoming a digital enterprise? Add thousands of employees, well-established business models, and billions of dollars in assets to the mix. Miscalculations can lead to chaos.

Dedicated leadership, thorough communication, and relevant incentives are key, but to succeed, you need the right combination of principles and practices.

Transformation leaders at McKinsey & Co., recommend answering the following questions to increase your company’s chances of getting digital transformation right.

1. How well do you know where change is occurring?
2. Do you know which customer journeys matter?
3. Are your teams collaborating across functions?
4. Do you have a disciplined ‘test and learn’ approach?
5. Is your IT operating at two speeds?

Tadafur’s Digital Transformation Services

Tadafur comes to you with a portfolio of successful transformations to guide your organization through its Digital Transformation journey. We help you transform your business model to benefit from digital technologies, new opportunities and reach a larger audience by:

1. Review your current business model and technology landscape
2. Redesign your business model to meet your strategic objectives and outperform your competitio
3. Select the right technologies and solutions that will strengthen your market positioning
4. Transform to a digital business model with a wider outreach, flexibility, agility, and convenience to all relevant stakeholders

To begin your Digital Transformation journey, contact one of our Experts now.