As we get into the 2020’s, let us try to reflect on the most profound change the world has seen over the last two decades before we roadmap the next few years. Is it artificial intelligence, is it automation, or new technologies? Actually, the answer is the Digital transformation process we are all experiencing – a journey of digital enablement integrated into businesses by the company leaders, stakeholders, CEOs, CIOs and other decision making C-level executives. Digital transformation is an ongoing process – by establishing a culture of innovation and an environment of continuous improvement across organizations.
So What Does Digital Business Transformation Actually Involve?
Digital transformation involves the acceleration of business processes, activities, leveraging processes, digital tools such as data, competencies, and optimization of business models through digital technologies. There are three key drivers of digital business transformation:
- First is the business strategy and its key objective – to improve business performance.
- Second is digital technologies – to transform any product or service into something significantly better.
- The third is the organizational change—a change that includes processes, people, and strategy.
Let us try to relate this with a couple of examples about digital transformation;
A fitting example witnessed by us in this rapidly changing real-time landscape is Deloitte, one of the “Big Four” – the largest professional network in the world in terms of revenue and by several professionals. The Deloitte digital transformation method involves assessing their current technology landscape, developing a digital transformation strategy, and building and integrating new systems.
Another name which is on everybody’s palette is Domino’s Pizza which has undergone such a tremendous digital transformation with its innovative ‘Anywhere’ ordering platform. It allows customers to place orders in a variety of ways besides the main website. Customers can simply tweet or text emoji’s or use any computing device to order their favourite pizza, even via smart TV as well as through their smartwatches! These are all big changes and part of the transformation framework that helped improve business outcomes and operational efficiency for the brand moving forward.
Digital Transformation Initiatives are the New Business Model
From large international businesses and e-commerce retailers to startups, building effective Digital Transformation efforts have become a core strategy for all parties, from vendors, third party suppliers and consultants. As the Digital Age continues to progress, the challenges for both leaders and organisations are increasing as transformation involves the integration of social and digital technologies into an organisation’s operations.
There are three key performance indicators (KPIs) for digital transformation; profitability, customer satisfaction, and increased speed-to-market according to a recent Forrester research.
Organisations are these days increasingly getting agile to deliver digital solutions and build delightful customer experiences. Bringing in the fundamental shifts in employee mindset to team up into clusters of assorted skills and technologies and learning to collaborate brings new opportunities to the team members too when it comes to career development.
So these are some of my thoughts on where we are heading. Do you agree that Agile is the way to go forward? Is there something you wish to add? With big data, cloud computing and machine learning powering most initiatives, many business leaders have focused on change management in the coming years. This is a chance to be ahead of that wave and lead the digital disruption overall.
Digital Transformation Success with Leadership Tribe
Stay tuned in for more on this journey of successful digital transformation and learn to build a agile methodology and improve the ecosystem, whether in a new products supply chain, a restructuring international business or start up staff growth, with Leadership Tribe. Contact us for more info on how to be a digital leader today.
