“Digital Transformation” is a big buzzword with business leaders. It seems that every organization in the world is scrambling to introduce the company to digital technologies that revolutionize the way they do business.
If you’re a CEO, it’s your job to ensure that your company’s digital transformation runs smoothly. We put together this cheat sheet to give you some important points to reflect and focus on when compiling your digital strategy.
Digital Transformation is for All Organizations
Big companies aren’t the only organizations that can benefit from implementing a digital transformation. Results are starting to pour in from smaller businesses around the globe.
When it comes to assessing challenges, most smaller businesses cite a lack of skills and insufficient training as the number-one roadblock to success. Legacy systems, poor communications, and underinvestment are some examples of other challenges affecting companies around the world.
68% of companies investing in a digital transformation state that the initiative is producing a provable and positive increase in ROI.
What Tech Do Leaders Need to Focus On Implementing?
Big data, AI, VR, and augmented reality are a few examples of tech that’s changing the world. However, CEOs and business leaders need to focus on implementing a technology system that integrates with the workplace.
Tech needs to be intuitive, allowing employees easy access to everything they need on the job. Focusing on the underlying impact and economic drivers altered by these technology tools is essential for success. Understanding how these tech tools drive innovation in your organization is the key to success during the implementation phase.
Value is a Moving Target
The needs and wants of your employees are continually evolving. What they expect from the implementation of your tech tools is very different from previous organizational systems.
Employees expect consumer-grade employee experiences. As CEO, you need to provide a user-friendly platform, or you risk your top talent leaving for greener pastures.
Implementing Change in Large Organizations Can Get Messy
The organizational and human dynamics in any organization make implementing any new system a challenge. Implementing change in your business isn’t as challenging as you think when you break it down into its constituents of education, communication, and incentive.
Many companies run into roadblocks with senior executives and management when rolling out a digital transformation strategy. Is your board equipped to handle the change? If not, you’ll need to bring qualified digital experts to the board to ensure a successful transformation.
Experts understand the risks involved with integrating these tech tools into the workplace. Tech experts can drive the transformation, reporting progress to the board at regular intervals.
Key Takeaways
- For most companies, digital transformation is already underway.
- Implementing a digital transformation strategy comes with a set of unique challenges.
- Technology tools changed the way businesses operate, enhancing the employee experience.
- CEOs need to focus on how these tech tools impact business basics.
- As the age of experience dawns, value creation is becoming an increasingly fickle concept.
- Success with your organization’s digital strategy starts at the top and has a trickle-down effect on the entire company.
