Keys to Mastering Digital Transformation –– for Growth and Profit
The Digital Transformation Revolution (DTR) is not merely the flavor-of-the-month topic in every morning show and lifestyle article. DTR is an everyday reality. It now impacts every aspect of our lives –– and your business, no matter the area of manufacture/delivery, services, and/or research in which your enterprise specializes.
Every business earning twenty to three hundred million dollars annually has adopted DTR elements– e.g., process automation, data analytics, Machine Learning, and Artificial Intelligence.
But multiple studies show that most enterprises have not yet fully adapted to the DTR.
This has prevented both medium and large enterprises from benefiting from DTR’s proven capabilities to maximize operations effectiveness, efficiency, growth, and profit in the face of rapidly changing customer/partner expectations, market volatility, and the unpredictability of local and global events.
Failing to Meet DTR Standards
Kate Crawford, the noted NYU professor of digital technologies, sums up one of the core challenges businesses face in implementing Digital Transformation: DTR “is working in the background in so many ways that you do not necessarily see or think about it.” Backing Professor Crawford’s core insight, industry studies show that an astounding 70% of all digital transformation projects fail –- especially in critical ERP (Enterprise Resource Planning). These studies have identified the following primary causes:
- Business leaders make implementation decisions without thoroughly learning crucial details about the interconnectedness of their own company’s operations…the company’s separate but key team cultures…and which MSP has the requisite technical knowledge, culture, and track record of helping businesses master the Digital Transformation Revolution.
- Outsourced providers rarely get the opportunity or have the initiative to learn their customers’ critical needs.
Data-Driven Leadership: A Culture of Learning….Adapting …Evolving
DTR is not a “one-and-done” project. It is adapting new tools to an existing business culture. It is a cultural change, and it is forever. Research strongly indicates that the following six steps will help your company achieve sustained business success via the Digital Transformation Revolution:
- Learn your business’s core strengths and n Benchmark them.
- Think strategically: incorporate your company’s current requirements within a focused, proactive set of long-term business goals.
- Prioritize DTR as the means to deliver the ideal experience for every customer, every time. Start simple.
- Take a holistic approach –– e., one emphasizing the interconnectedness of your company’s departments –– to transforming operations.
- Build your DTR teams by choosing candidates whose technical skills and team capabilities mesh across multiple disciplines (e.g., robust ERP/business processing, computing, and communications skills and a proven comfort with adaptability). Digitally native (i.e., Gen Z) workers may understand this better than anyone.
- Choose an experienced managed service provider (MSP) with both a client-centric, collaborative philosophy and a proven technical skill set to help you learn, adapt to, and evolve your DTR
BACS: Your Digital Transformation Guide
At BACS, we live by the “Show, not tell.” Our skill set is as diverse as our client base. And that diversity is our strength –– diversity in technical skills, Digital Transformation projects, and corporate/institutional fluencies. But our greatest strength is unifying these diverse strengths into a unified team effort that delivers every time for every client.
In upcoming weeks we will continue to present impactful, doable strategies for your organization to learn…adapt…and evolve, not only to meet but also to master the Digital Transformation Revolution unfolding around us.