The challenges of digital transformation
Digital transformation is a key issue for the continuity of businesses. However, only 20% of the worldwide companies are currently implementing solutions to make it effective.
In this article we explain you the challenges of the digital transformation, its main barriers and best practices to implement it.
What is digital transformation?
Digital transformation is the application of new technologies to processes, products, and assets. Its goals are to improve efficiency, to enhance customer value, to manage risk, and to face new business opportunities.
Each enterprise is different, so the digital strategy may depend on its characteristics, goals and dimensions. However, there are certain general recommendations to make digital transformation success.
More than a digital change
Working on digitalization is not easy. Companies usually have several difficulties when implementing it: no budget enough, lack of resources or support, no experience neither abilities, etc.
To make digital transformation work, it must have a clear objective, a well thought out strategy and a prepared team. In consequence, technical factors will be important –integration of new technologies, data analysis, and digital knowledge– as well as human factors. Digitalization means a cultural change and, as any other process, it depends on people that execute it.
Five keys to the transformation
Digital transformation not only involves technological progress, but it also affects to the organization of the companies and its business strategy. In short, there are five main keys for the digitalization:
- Strategy. Digital transformation must be a central point in the business strategy if we want to make it succeed.
- Inversion. Having a good budget allows facing expenses and necessities that may come up.
- Leadership. Companies must assign new roles to implement new ways of making business.
- Structural changes. Digital transformation doesn’t only consists of having specialized teams. It means a holistic change, and it implies the convergence of different teams as well as networking.
- Adaptation and innovation. Technology is constantly changing. In the same way, teams and people in charge of it may act following last trends in technology and business.
Is your business prepared to change? Write a comment and tell us what digital transformation means to you.