Digital Transformation – the need for speed
The Other Missing Ingredient for Successful Digital Transformation
There is no doubt that when it comes to digital transformation (Dx) – strategic alignment is king! Recent CEO surveys are dishing up the proof of this (as if the countless tales of failed Dx projects weren’t already proof enough!) Fujitsu’s PACT report explains that some 74% of organisations have admitted that their digital projects aren’t linked to an overall digital strategy. Line this up against the 70%-plus failure rate of digital transformation projects and you start to see what we’re talking about!
But there is another missing ingredient in Dx that isn’t talked about nearly as much – Speed! That’s right – the Need for Speed! After all, you have to be fast enough to catch up, before you can get out ahead!
Why do Businesses Need to Speed Up?
Data on the Internet today can circumnavigate the globe in mere milliseconds. With masses of information and data are now available, not only to businesses but to impatient customers making purchasing decisions too, it’s pretty clear that businesses will need to live and die by moving at digital-fit speed. The “bottleneck”, even for those organisations working with within a higher level digital business technology strategy, is speed. Even the latest and fastest IT systems in the world will only take you so far when legacy obstacles still slow you down at the coalface. This is real-life frustration SMEs feel when they’ve adopted leading digital-grade technology but achieved very little – certainly not the transformative digital experience they might have been expecting!
What’s Stopping Businesses from Moving at Speed?
…And How Can Organisations Speed Up to Get Dx-Fit?
In dealing with SMEs at various stages of their business technology and digital transformation journeys, we routinely encounter six obstacles that are guaranteed to slow digital transformation initiatives to a crawl in spite of the best tech.
1. Business processes that are not match-fit:
Are your business processes still “analogue” heavy? Can some human-centric back check, check and recheck processes be optimised through automation or even embracing AI?
Whilst the business technology might be cutting-edge, if it has be integrated with analogue business process, there won’t be any gains to be had.
2. Half-baked accessibility:
Have you “moved to the cloud” but still have people saving to their desktops, or unable to access the information they need when they’re out of office? You need to investigate what “cloud-first” looks like in a next-generation enterprise and cloud can be leveraged to its fullest for file management, data collection and management, analytics, and flexibility and mobility workplace solutions.
3. Relationships that are TOO sticky.
Are your ecosystem partners aligned with where you’re headed? If they’re not interested or able to accommodate your need to go-to-market and service-that-market faster, better and more flexibly, maybe they’re not the right partner for you. Why? Because organisations will not have the time to build expertise and innovation on demand to meet customer expectations. So fast and agile supplier, vendor and partner relationships are more critical than ever before to deliver that fast yet more personalised customer experience.
4. Outmoded business models:
When both your processes and ecosystem relationships are moving faster, organisations need to revisit their fundamental business model. From the way they spend and make money, to the way they market themselves and service their customers. This process of Business Model Transformation is sometimes to most challenging for organisations to accept, but is the only way to ensure that gains made in speeding up processes and relationships will be sustainable.
5. Snail’s pace leadership and communication
Leadership teams need to speed up their decision-making time both company-side and client-side by utilizing data analytics and reporting to get the insights they need, FAST. Explore the vast array of data management, dash boarding and data visualisation tools to enable your business to make faster, more insightful decisions and meet your customer’s need for speed AND personalised experience.
Similarly those insights and decisions need to be communicated quickly and effectively by embracing the benefits that collaborative work and unified communications solutions have to offer.
6. And finally, a static culture
Does your team feel pressured instead of inspired by new directions? Time to boost employee buy-in by communicating your organisations digital transformation vision in a way that demonstrates benefits both company-side and client-side.
Your team needs to know and understand that the need for speed is not just leadership heaping on the “pressure” or “upping the ante”, but that pursuing speed strategically through faster processes, relationships, and business models is actually aimed at giving employees greater flexibility and satisfaction longer term. Again fast and adaptive communication is key here too.
How we can help?
At Maxsum, we’re all about people, processes, insights and strategy first. Talk to us today about building the right business technology strategy from both top-down and line-of-business out. If you are looking for a technology partner to help with your digital transformation, call us today on 1300 MAXSUM or fill in the form on our contact us page.
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