Roadmap to a billion dollar organization through digital transformation
From the various findings during the phase one studies of the digital transformation conducted by MIT center for business and capgemini consulting which runs through 157 executives from 50 large traditional companies globally, how they are benefiting from the digital transformation, they came up with 7 cardinal areas to look out for digital transformation in various organizations and her administrative values, from which the elements of digital transformation was also looked at. This including the different pressures company faces from client customers and employees. It was observed that digital transformation does not come from just implementing technologies but by positioning your organization to take advantage of the various new opportunities that digital transformation provides. Find here a brief summary of the seven cardinal areas of digital transformation as discovered from the digital transformation studies.
THE SAME PRESSURE; DIFFERENT RESULT.
It was discovered that the pressure and inward drive to expand businesses and cover larger grounds in business were the same in most organizations, while some has policies that directly challenge or oppose the direct involvement of digital transformation in their organization.
According to one CIO, “Officially iPads are prohibited by our policies. Yet 50 percent of our employees are using them at work.” Even customers are also becoming more demanding and so the outcome of the finding shows that the result gotten by each organizations are not the same and the big difference was directly accredited to the utilization of digital transformation and the new opportunities it brings, this includes the different speed of service and as such different result and customer satisfactions like in the case of "HotelCo", one of the ten largest hospitality company who fully embrace the digital transformation with the various opportunities it provides. HotelCo has created opportunities for digital transformation in three areas: online presence, mobile customer engagement, and internal operational processes.
THE SHAPE OF DIGITAL TRANSFORMATION
The effect of digital transformation is viably visible in organizational businesses in the areas of transforming customer experience, operational processes and business models- these are obvious through the digital capabilities. Companies that were interviewed were moving forward base on digital transformation in the area afore mentioned, companies build online presence through website, mobile and other online platforms to interact with customers for effective business transaction and customer satisfaction. Companies that embraces the digital transformation get greater response rate from client and customers with new technologies.
DIGITAL TECHNOLOGY USAGE
During the interview period four, core areas of digital transformation were called out and considered: analytics, mobile, social media, and embedded devices and how they are being used in the enterprise. In the process most executives were aware of these technologies, although few considered themselves as experts and most could describe how the company used the technology, or how it might or might not be important in the future. Many also integrate several digital technologies such as social networking and web base marketing approaches with the numerous digital product design capabilities and embedded devices in product to be more responsive to emerging consumers preference. Mobile phones are increasingly used as embedded device thereby bringing marketing to the reach of every person right at the comfort of their mobile phones or personal computers at home.
CHALLENGES ON THE ROAD TO TRANSFORMATION
Three areas were discovered to be the main reasons for the challenges facing companies and organizations in the pursuit to implement and benefit from digital transformation and the adaptation of new technologies in other to benefit therein. These challenges occurs in these areas: Initiation, Execution and Coordination. Initiation of digital transformation was actually a challenge to some companies as they find it challenging to initiate new technologies and strategies and even when some organization successfully initiate digital transformation, execution and coordination tends to also pose a challenge which we believe ought be looked into in the future of enlightenments in digital transformation.
HOW TO MAKE YOUR DIGITAL JOURNEY SUCCESSFUL
For any organization or company to be successful in the journey to digital transformation in, such organization needs to envision the digital future of the firm, invest in initiatives and skills and lead the change from the top. This run through a simply process that runs like: envision…, invest….and lead….where leaders of such establishment that wants to succeed in the digital transformation need to diagnose the potential value of existing corporate asset and build a transformative vision for the future. Then, they invest in skills and initiative to make such vision a reality. Fundamental to this transformation is the effective communication and governance to ensure that the firm is moving in the right direction.
DIGITAL TRANSFORMATION MATURITY
Digital transformation maturity actually has to do with the “what” and the “how” of a company’s digital framework, which is their digital enlightenment and digital governance. The “how” is the way the senior executives of such organization drives change throughout the organization. This includes creating and communicating vision, establishing governance and measurement mechanisms, and building a digital-ready culture. The “what” is the specific set of digital transformation elements implemented by the organization, including the strategic assets and digital investments that are used to create those elements.