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How to Move Your Digital Transformation Faster Without Cutting Corners

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Digital transformation is the new catchphrase among companies around the world. It almost always seems like a buzzword they use in their annual reports and strategy briefs. But digital transformation is more than a buzzword.

The pace of change over the past couple of years has caused companies to make drastic upgrades to their processes. These upgrades involve using effective digital strategies for business.

What Is Digital Transformation?

Digital transformation is the reorganization of business models, strategies, or processes. This is because of changes in customer behavior caused by technological advancement. It is the process of using technology to change how you do business.

Digital transformation may sound easy, but it’s hard. This is due to factors we’ll discuss in the following section. Digital transformation is so complex that success is rare. About 70% of digital transformations fall short of their objectives.

If a company can execute well, it can flip the success rate from 30% to as much as 80%.

80% of companies plan to speed up their digital transformation. This is despite the difficulty in executing digital transformation. The pandemic put businesses on a new and accelerated digital trajectory. Digital transformation is a sure way to have a competitive advantage in most industries.

Every business needs digital transformation as it is a key driver of revenue. In some case studies, digital leaders achieve 1.8x higher earnings growth than digital laggards.

Why IS Digital Transformation Not Working For You?

There are many reasons your digital transformation has failed. One of these is using the wrong digital transformation team. Digital transformation teams need to be change agents. They help organizations figure out how to incorporate technology into their processes.

Unfortunately, many digital transformation teams are in dire need of digital transformation themselves. They have not disrupted themselves as much as they have their clients. There's an old saying, "the goldsmith's children have no jewels." This is true for digital transformation teams because many fail to transform themselves. 

They are so busy trying to change other businesses they neglect theirs. This creates a problem. They end up using the same old digital transformation strategies for every client. Years after, the delivery methods for common digital transformation projects stay the same. They have not seen any revolutionary change, with few exceptions.

This problem has become more pronounced over the past two year, since there is so much demand for digital transformation in the market. The incentives for consulting teams to innovate themselves are lower than in the past. Supply and demand are so unbalanced that laggards on DX innovation are not being disadvantaged, so not much changes.

How to Move Your Digital Transformation Faster Without Cutting Corners

How then do you move your digital transformation faster without cutting corners? The answer is pretty simple. You change strategies. If the old ones aren’t working, try other ways.

At Second Spring Digital, we are working on new strategies that will change digital transformation methods.

In digital transformation, there are a number of recurring tasks. These tasks are suitable for more systemization and digitization than what we are often seeing in 2022.

There’s so much room for improvement. There are many opportunities to make the common digital transformation jobs faster. They can also become more predictable and less reliant on highly-priced, experienced talent.

These opportunities include:

  • Software Analysis and Selection
    • This step involves going through a process of evaluation and valuation. This is to determine the best software tools for your business's digital transformation. 
  • Digital Transformation PMO Setup and Operation
    • Setting up a Project Management Office (PMO) to oversee the entire process. It'll also deliver real-time data through the stages.
  • Digital Transformation KPIs and Dashboards
    • Determining and monitoring the unique Key Performance Indices (KPIs). KPIs in technology, data, processes, and organizational change.

Yes, a number of digital transformation activities require a custom approach. They are industry-specific or company-specific. You cannot just replicate the same strategy across many industries or companies. 

But, not everything needs these high-touch, custom approaches.  You can get more done, faster, if you select the right approach for each job.

What Are The Benefits of More Efficient Digital Transformation?

  1. Get more done. You do projects faster because you focus more time on execution than figuring out the process.
  2. Fewer surprises spring up during the process. It improves communication and the transfer of data. There's a spread of information in real-time, and everyone is on the same page.
  3. The business will depend less on scarce talent and professionals.
  4. It helps build the internal digital capability of your business. Now businesses can do more than they would otherwise.
  5. Early digital transformation successes build your team’s confidence to tackle more difficult jobs.

Digital transformation is beneficial to businesses in all industries. Technology is evolving. More people conduct businesses online from the comfort of their homes. Digital transformation means your company can help them do this. There’s a right way to do digital transformation. You do not need to cut corners. We know exactly how to do that at Second Spring Digital. Reach out to us if you would like to discuss.