Digital transformation : Adapt or perish.
The world never stops turning.
Digital transformation is one of today’s buzzwords, but what does it really mean? It’s a movement that questions existing business models and processes in function of the availability and affordability of digital technology, aiming for more efficient acquisition en retention of clients. This needs the implication of the total organization because these new technologies demand fundamental change.
There are a number of reasons why an organization should change, but the most probable one is: because it has to. It’s just a matter of survival. Quoting IDC : “A third of all top-20 companies throughout all segments will be threatened by new competitors, resulting in an ‘adapt or perish’ situation”. IDC also mentions that “70 percent of all digital transformation initiatives will fail in the end, as a consequence of bad cooperation, integration, outsourcing or project management”.
Why should you take part in it?
- Your competitors do it: it is predicted that about half of total turnover will be determined by digital processes by 2020.
- More revenue : MIT states that companies that embrace digital transformation will generate some 26 percent more revenue than their average competitors, and will score a 12 percent higher market evaluation.
- More efficiency : 9 out of 10 IT decision makers claim that redundant technology and systems prevent that they can use the digital technology they need to grow faster and more efficiently.
- Your clients demand it : clients as well as employees have embraced ‘digital’ in all aspects of their lives. Today, they e.g. shop online, use mobile devices and control their thermostat from a distance. They crave for companies that have evolved the way they did themselves…
“The most probable reason for change is : because you have to.”
9 areas of concern
- Understand your customer
- Change your selling technique
- Know how to reach your target groups
- Digitise your processes
- Empower your employees
- Adapt for performance
- Adapt in function of digital
- Create new digital businesses
The bottom line
Digital transformation demands strong leadership to get fundamental change. But it also demands vision. What parts of your company do you want to transform, and in what order?
Companies in all niches and regions experiment with -and take advantage of- digital transformation. Whether it’s about the way people work and collaborate, or how processes are executed in and over the boundaries of organizations, or how it understands and services its clients, digital technology offers a wide range of possibilities.
Focus is important : no company can transform in all areas of concern simultaneously. But the great ones keep on looking for new opportunities to redefine the way they work in this digital era.
Want to this transformation or boost it? Let’s get you on the right track.