Many enterprises today use “digital” to change how they interact with customers, but that’s too limiting. Truly digital enterprises take a 360-degree view, using information and technology to improve the way all users — clients, employees, and partners, collaborate around information to substantially increase productivity and performance. Yes, digital enterprise is the ‘magical term’ that can help you navigate the crisis and accelerate your business growth. Companies today are striving to become a digitally mature enterprise.
More than anything, in the 2020s competitiveness will be defined by the ability to anticipate and embrace change, rather than adapt to it after the fact – a core characteristic of the modern digital business (MDB).
So, do you want to be a digital enterprise?
To become one, simply investing in digital initiatives is not enough. In other words, transforming into a digital enterprise mainly boils down to 4 key aspects:
- Deriving new values for yourself, and finding better and more innovative ways of working
- Placing customer experience above and beyond everything
- Embracing agile methodologies to support the rapidly changing demands of the digital world
- Identifying and encashing the opportunities to adopt digital services. Especially in terms of assessing and managing the security risks
It’s true that digital transformation can help you provide better customer service, enable your teams to work more collaboratively and allow you to make better use of data in decision-making. But to reap these benefits, you need to consider few things and take a well-planned and controlled approach. You need to ensure the digital transformation initiatives you take aligns perfectly with the people, process, and technology. Let’s look at each one of them in detail.
4 Stepping stones to transform into a digitally mature enterprise
1. Building a strong business vision and the right culture
Thinking about the vision helps you envision how your company could be different and better in the future. Not just that but will help you relook and re-consider your core business value and how that value resonates with your employees as well as the customers. Map out how the new digital initiatives will change or modify your business functions, processes, product, and most importantly – your business goals. That being said, measure success in terms of the value you get out of these digital initiatives and not based on the volume of activity or effort.
Of all, you need your people’s support to drive digital transformation. In other words, you need to create an environment and company culture where employees feel engaged and valued. Ensure your employees are on board with all the digital initiatives your company is planning to implement. If need be, hire new talents who can support this initiative and make it a success!
2. Bridge the gap between IT and business, align them both
One of the crucial yet overlooked factors is the extent of compatibility between the IT and business goals. Ensure the business and the IT teams are on the same page when it comes to digital transformation initiatives. In other words, ensure that everyone stays committed to the shared vision and is willing to re-define the ways of work to get better results.
Work towards eliminating the gap and differences between the IT and business departments. This way you will be fuelling your digital transformation journey from all possible ways – infrastructure, processes, and people. Thereby, preparing your organization, process and people to constantly reinvent themselves and set a new growth record.
3. Embrace the right technology and tools
Run a thorough need analysis and make a list of technology devices your organization needs to be able to function efficiently. The current pandemic has taught us a life lesson of what and what not to do. Nobody knows what the future holds for us. But we can at least stay prepared. Use the currently acquired knowledge and experience to stay prepared for the future crisis!
Also, ensure the technology tools that you have selected gels perfectly with your business processes and most importantly – your people. If necessary, train your employees on the technology tools, ways to use them and ensure to explain to them how it will make their life easier and simpler. Remember, invest in technology and tools that can strengthen your company’s digital capabilities and not otherwise!
4. Innovate and level-up your technology strategy
As Steve Jobs quotes – “Innovation distinguishes between a leader and a follower” – who do you want to be – the leader or the follower?
Lastly, digital transformation is a process, not a one-off project! Your company becomes digitally mature only when it innovates continuously, constantly looks at how it can get more out of the current system and processes, take advantage of new technologies to improve the existing processes, and give itself and others a tough competition! Innovation is what makes your enterprise stand out and helps your company to grow and become digitally mature.
To become a digitally mature enterprise, you need to act like one! Bring together your – people, processes, and technology and ensure they are in line with the set business objectives and goals. As mentioned above, identify and practice agile principles and methodologies that enhance your business capabilities and position your company for success today and tomorrow.