Introduction
A digital transformation strategy is a detailed plan for using digital solutions to improve the physical aspects of your business across engineering, manufacturing, and service. It is the rewiring of an organization to build a digital ecosystem.
But it is more than a technology initiative. It is also a cultural shift that brings together people, data, and processes – to create a better customer experience and become more resilient and competitive.
It leads to increased efficiency, greater business agility and the unlocking of new value for employees, customers and shareholders. Companies of all sizes are seeing enviable business outcomes from digital transformation efforts.
However, digital transformation isn’t a fixed destination. It’s an ongoing voyage. Through continuing investment, you can leverage the latest innovations and emerging technologies for even more long term success.
In this blog, we therefore take you through the strategies that you can build upon to guide you on your journey.
Key Strategies
Align on the why of digital transformation: Planning is the most important step before starting the journey. The first step is identifying the goal. Where do you see yourself in 5-10 years? For example your company might be geared towards providing high quality products. Thus, quality assurance might be your prime concern. This may require well-trained experts for testing. But instead of letting them get mired in loads of paperwork, you could inject technology in the processes to make it more efficient. This would lead to savings in the future.
Prepare for culture change: When an organization goes through a major change like digitalization, there is definitely a chance of push-back. The employees need to be assured of better returns with improved ways of working. Here-in comes the role of the C-suite – CEOs, CIOs and CTOs. They need to continuously support and motivate the teams to adopt better ways of working and inculcating technology. Transformation takes a long time and it is important for leaders to nurture a culture where everyone can learn from their mistakes and build upon their successes.
Start small, but strategically: Digital Transformation takes time, so it is important to implement in steps. Not only this, for each step an appropriate goal should be evaluated and ascertained. Attaining short term goals propels digital transformation. The best starting initiatives are the ones that are “quick wins”, instead of higher return long term projects. One can also divide the project into modules and scale it up, as per need and success.
Technology Implementation road map: You should ensure that your technology vendor offers services to assist you in preparing and executing your unique road map. Common digital transformation technologies include mobile, IoT, Digital Twins, Robotics, Cloud, AI & ML, Augmented Reality and Additive Manufacturing. A digital transformation road map provides the strategic framework to help you capitalize on opportunities and roll out new systems.
Seek out partners and expertise: After setting out the technology roadmap, the next step is to seek out partners and expertise. People who have previously worked in this sector, have the expertise of what to do and what not to do. Ask key questions: Will the technology and vendor support scaling ? Is your vendor’s vision aligned with your vision ? How does the plan integrate with the existing technology being used ?
Gather feedback and refine: Once the project is in motion, sit with members and stakeholders to gather feedback. Recall goals set up and discuss progress. Take stock of the situation and refine or realign to get on the right track. Set up additional objectives and newer ones, if needed.
Scale and transform: As the results start manifesting, bank on your success to scale horizontally and vertically. Set up similar strategies in multiple locations and add additional technologies to original projects, augmenting them for even greater success.
Conclusion
Digital transformation is a broad term that embraces a wide array of elements. It requires a lot of financial investment, time, and technical expertise.
It is a journey, not a race. But in order to stay in the game, your organization must be easily able to adapt, evolve and progress.
As the evolution progresses, the convergence of the physical and the digital should continue to be a part of your business strategy.
By formulating a clear, effective, and robust strategy, your business can transform digitally as seamlessly as possible !