Digital Transformation – the four ingredients for success
Over the last few years, digital transformation has been redefining the way organisations operate, giving rise to everything from new practices and processes to entirely new business models and revenue streams.
Against this backdrop, Sinead Dillon, Principal Consultant at leading ICT solutions provider Fujitsu, explains how organisations can manage and capitalise on the transition into the digital era.
Our latest independent study examining the state of digital transformation reports that while nine in ten business leaders (90%) say their organisation now has a clearly defined digital strategy, three quarters (74%) say that projects are often undertaken that aren’t linked to the overarching business strategy, and two in three (66%) say the cost of failure has put them off future digital transformation. In order to digitally transform and see returns from the process, it is no longer enough just to have the best applications and devices; without talented and capable people to use them, they are meaningless. By accompanying customers on their digital journeys and through our research for the Digital Transformation PACT report, we have learned that it is only by bringing equilibrium to four vital ingredients – People, Actions, Collaboration and Technology (PACT) – that organisations can hope to thrive in this digital era.
Focus on People
Without the right skills, businesses will struggle to implement digital seamlessly and reap the rewards effectively. A great many organisations are only too aware of that need with 90% of those surveyed saying they are taking measures to increase access to digital skills both within and outside their business. Upskilling and knowledge sharing are also avenues that businesses can explore to boost the talent pipeline while 87% also highlight the need to focus on a digitally friendly culture open to nurturing innovation.
Focus on Actions
Fostering the right processes, attitudes and behaviours is integral to successful digital transformation. Our report finds however that there is a disconnect between business leaders’ perception of digital transformation and the reality. Implementing an evaluation strategy can help organisations ensure they have a clear process in place for assessing projects. Our research finds that when evaluation procedures are in place, they also help to limit potential losses when projects go awry and quickly refocus programmes.
Focus on Collaboration
A new age of co-creation is dawning, one in which the full potential of digital transformation is being fuelled by the open sharing of knowledge and expertise. While 63% of business leaders say that are undertaking or planning co-creation project, three-quarters admit a lack of success in the short term could impact a partnership arrangement. Through our own experience with customer and partners locally, this is an issue that can be easily overcome by agreeing a long-term vision and strategy together.
Focus on Technology
New and emerging technologies are beginning to give organisations incredible power to help achieve their goals. Indeed, 84% of the business leaders surveyed said they would change their business model to adapt to new technology. Investment in technology however isn’t a standalone project – it requires planning – including a look at future technologies, managing risks and challenges such as security and of course staff training.
Digital transformation will always be about balance and as many companies are now finding, turning a strategy into digital success is about working together to adapt, share and build innovation into the heart of a business. Part of supporting this process is shining a spotlight on the businesses that are working to ensure everyone can benefit from digital transformation and amplifying best practice. As such, we are delighted to support Business in the Community NI as it recognises a ‘Digital Champion’ at its annual Responsible Business Awards for the first time. While technology is bringing unprecedented change, digital innovation offers a new way to tackle both old and emerging social and environmental challenges. This inaugural award, which we proudly sponsor, will be presented to the local organisation that best creates innovative digital solutions to tackle these challenges. We look forward to celebrating and rewarding Northern Ireland’s first ‘Digital Champion’ at the upcoming Responsible Business Awards in Northern Ireland on 24 May 2018.
For more information on the Responsible Business Awards visit www.bitcni.org.uk/awards