What are the key factors for a digital transformation at scale? And why is this vital for your company?
No two digital transformations (DX) are equal. But there is one most common thing between any of them. It needs to start and end in an effort made by the whole company.
With no clear reason why they need this, efforts made will fail. So, let us take a look at how you can make sure you succeed in your DX efforts.
Digital Transformation at Scale: Key Factors to Ponder
Set Enough Budget
Small or big, any DX still needs an upfront amount of capital investment. Meaning, it is vital to set and prepare your budget as soon as you can.
Yes, the cost will depend on any technology you want to embrace. And you need to base it on what your company needs.
But, experts suggest that you need to expect and set an amount at 5% of your operating cost. This will rely on your marketing and what your company has.
Looking at it may be big for you depending on your company. But looking at what you save to be under your rivals, it is worth it to keep that money sitting?
Make a Clear Plan
As said above, if you do not have a clear plan for your DX, your efforts will fail. So, making a clear plan is a key step to make.
You need to know what you want your DX to reach. Then, make a step by step plan to make that a reality.
But take note, have a clear plan before you make any DX efforts. It won’t do you any good if you make one in the middle of any steps.
Then, set the roles everyone needs to play. This will help in a smooth journey later on because they know what to expect at the end of the DX.
Choosing the Right Technology
Technology is the heart of any DX. So, it is vital that you sit down for a long time and think of which ones you need and ask the whys.
Do not start on the tech itself and buy it only because it is new or state-of-the-art. Think about what the company needs first, then list any tech that can help.
You can also ask questions first, like:
- Are we trying to do a DX with the help of cloud-based services?
- Do we want to have AI tools to help get more business data?
- Are we trying to automate some tasks?
Digital Transformation at Scale: Set Basis for Success
After making all your efforts, how can you know you reach success? Set a basis for one.
There is no one-size-fits-all metrics. So, you should make one that is unique to your company.
Then, ensure you make these before starting your DX then measure your efforts along the way. And while on the way, focus on these metrics.
Making sure you do not get lost from this can aid in making your DX is a success.
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