Technology’s increasing revolution of the digital space is a challenge to keep up with. However, in this digital age, it’s imperative to stay on top of it to keep ahead of evolving trends and strategies. In fact, according to a study by McKinsey, 80% of respondents have made the attempt to digitize their businesses. To transform an entire business into one of ever-shifting digitalization is no easy feat, and going in blind without a plan (and hoping it’ll work) is a surefire way to fail at the starting gates.
It’s a process that requires careful planning so as not to join the 70% of digital transformations that cannot meet their set objectives. This is especially true when sights are set too high, like a difficult New Year’s Resolution that expects immediate results – it’s an impossible task. Instead, looking to implement a step-by-step plan to build upon smaller, attainable changes that will stack up to hit long-term strategic goals is key to success.
Nowadays, digitization is a necessity for a business to be able to thrive, but there are a few key factors that are essential to consider to ensure a successful transformation. Just one example is the upskilling of employees. This comes with one of many benefits, such as being able to keep up with the rapid emergence of new digital processes, and ensuring that there is someone who specializes in that field. It’s even reported that, on average, 40% of workers will require up to six months of being reskilled in the coming years.
Additionally, there is more than simply one type of digital transformation. One of four main types can be considered to aid in the restructuring and reshaping of company goals and processes, allowing for newly-formed visions and values. Each process has its own way of breaking down and specializing in a specific area so as to increase efficiency, as well as optimizing for potential opportunities, so knowing which one to choose can be an important decision in helping to stick to core transformation goals and set up for success.
Ultimately, digital transformation is learning and developing a strategy that seeks new opportunities and aims to revolutionize business potential. To learn more about digital transformation types, and the benefits, and to understand the factors involved in ensuring a successful transformation, Tech. co have created the following infographics. Check them out below:
