Digital Transformation

What is Digital Transformation?

Although there is no single “definition” for Digital Transformation (DX), Deloitte (in Wired) describes it well saying, “Digital transformation is all about becoming a digital enterprise — an organization that uses technology to continuously evolve all aspects of its business models (what it offers, how it interacts with customers and how it operates).”

In short, Digital Transformation is how to futureproof a business.

To put it in more practical terms, let’s examine how digital transformation impacts key areas of your organization. We refer to it as bringing CLARITY to your own DX journey, focusing on these 7 universal topics:

  • CCustomer Relations
  • LLearning and Development
  • AAgile Operations
  • RRegulatory Compliance
  • IInformation Technology
  • TTactical Innovation
  • YYield (Financial)

Below, we’ll touch briefly on each.

Customer Relations

A recent HBR survey found that 40% of respondents named customer experience as their top priority for digital transformation. Considering that every experience a customer has with a brand impacts their perception of the company, this is a wise focus.

In the same survey, 72% of respondents said they expect the shift to digital initiatives to create closer relationships with customers. So, if you’re looking to improve the experience your company provides to customers, it could be time to start adapting to advances in technology and finding new ways to incorporate more digital elements into your strategy.

Learning & Development

A majority of companies recognize that digitalization can streamline their productivity and results, but many fail to realize that digital adoption can also help to attract and retain amazing talent within an organization.

Employee expectations for technologies and digital strategies are rapidly outpacing what’s available at many organizations. It’s this imbalance that encourages much of today’s top talent to seek employment elsewhere.

Agile Operations

The term “agile operations” is intended to evaluate a company’s ability to remain nimble, flexible, and responsive in the application of modern technologies, in order to remain competitive and relevant.

It’s important to not only assess where you may benefit from employing certain technologies, but it’s equally or even more important to make sure that you’re not pursuing the wrong ones or using them in a meaningless or redundant manner

Risk Management

Risk management may not be a central problem an organization sets out to fix when making digital transformation plans, but business leaders are increasingly aware that risk-related thinking needs to be entwined into their wider digital transformation strategy planning.

Digital transformation is essential to compliance’s evolution and the development of risk management programs that meet future technology requirements and needs.

Information Technology

The IT department, more than every other business department, has a unique perspective of the fast-evolving technology landscape and where it could be in the next five years. From business continuity and cybersecurity to applications and infrastructure, IT has a wealth of expertise that can be leveraged for the DX journey to put “digital” to work for your business.

To aid in the DX journey, IT must shift away from their traditional perspectives and begin providing more visible value back to the business. The more aligned IT becomes with the organization and its goals, the more they will be able to see their own purpose and ultimate goals.

Technological Innovation

It’s no secret that a company’s ability to continually transform themselves digitally, in order to keep up with customer expectations is a matter of survival. The company’s ability to innovate is often a driver, or at least a major factor in their DX journey.

With that in mind, it’s important to periodically pause and consider your own company. Are you fostering an appropriate culture of innovation? Are you enabling your organization to consistently evaluate products and processes for innovative change? Do you have an innovation strategy at the core of your operations?

Yield (Financial)

The world of finance is no stranger to the need for digital transformation. To the contrary, financial considerations, financial operations and financial personnel are some of the key driving forces behind that need.

The role of the CFO and other financial managers is consistently challenged with the need to execute on their more “traditional” responsibilities, as well as keep a vigilant eye on the future. Whether it’s increased automation, big data and analytics, artificial intelligence, or myriad other potential influencers, the finance department is consistently challenged to keep current.

 

The CLARITY Assessment™

There truly is no remaining question whether to embrace digital transformation. Yet the scope of DX is huge. It effects virtually every department in your organization. 

As with all strategic initiatives, there is only so much money and resources available to invest.

Our free CLARITY Assessment™ program was developed specifically to determine your company’s highest digitalization ROI value across the seven key corporate objectives described above.

For each of the above areas, we provide industry best practices allowing you to accurately evaluate your digital transformation strengths or weaknesses.

Upon completion, your comprehensive report provides you with prioritized and custom-tailored insights, along with actionable next steps.

The CLARITY Assessment ™ is the result of Primero Systems’ investment of thousands of research hours in addition to our nearly 30 years of digitalization experience.

Learn more here. Or if you’re ready, take the assessment.

 

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