“None of us knows what might happen even the next minute, yet still, we go forward. Because we trust. Because we have Faith.”-Paulo Coelho
Technology is one such element in human life that determines the course of humanity and yet holds it back with subtle strings of uncertainty. When we first heard about the first computing machine, it was apparently a fad, and we now wonder or rather worry about how AI will take over our lives. We have no choice but to move and evolve along with it. Digital transformation is inevitable and continuous as a seeping stream of inevitability under our carpet that would make us a part of its life.
So, digital 2.0 is here and would eventually move onto digital 3.0. Many businesses understand pretty much well about it and still have adaptation issues because of certain self-serving weaknesses. It is said that these result from the subconscious mind, where your intuition plays a primary role. In the age of data and analytics, this holy subconscious shouldn’t be the deciding factor. However, when it comes to managing a business house, it is not all about crunching numbers. Many factors, including human resources, customer sentiment, and workforce compatibility, come into the picture, which various softwares and applications cannot measure. What is the optimum strategy that can make your journey into this maze smooth?
Here are some pointers that can help you in this regard
Technological updates are not the end-all and be-all solution.
Digital technologies provide only possibilities for positive results and help efficient management of strategies. Most CEO’s spend 70% of their investment on technological updates only to reap around 20% of output. Technology is a mere vehicle of your vision, and a flawed vision and strategy can backfire despite substantial investments.
Prefer optimum pace to reckless speed
As visionaries and go-getters, most of us are tempted to implement digital technologies at lightning speed. We do not realize that we cannot jump the signals that our organization keeps sending concerning readiness to adapt, financial resources, compatibility with old projects, etc. Whether you want to jump headfirst or want to ease into the flow gradually depends on the company’s long-term goal and overall personality.
Transformation is not the priority.
You read it right. Transformation per se shouldn’t be the priority. But rather, the need to transform should be the vehicle for the underlying preferences of the company. Jumping on to bandwagon wouldn’t take you to the place you want to reach ultimately. Rather, you might end up on the wrong path.
The human mind likes routine.
The people at the helm of the affairs, i.e., the CEOs and the resources who work for them, i.e., the employees, are all human beings. There will be a strong tendency of resisting the change in the grab of categorizing the business as ‘legacy business’ (read blind spot) or job insecurity of the employees. This dimension is quite a challenge when you have plans to introduce new technologies into the business. The only way out would be to have an innovative plan that would deliberately address the insecurity issues without compromising your plans.
Technology itself cannot drive customer experience.
Digital applications can immensely help organizations in improving the customer experience. Or you hope so. Many companies fail to coordinate their internal operations with the technologies they adopt. This creates a huge communication gap between the frontend customer service department and the people who work in the back-end. Instead of planning for an end to end client’s needs, they address a few touch-points here and there using digital applications because of their sheer convenience. According to a report published by McKinsey & Company, companies that implement optimal internal communication are more successful at client servicing than their counterparts.
Data is not everything that is needed.
The digital world is rife with big data, which can facilitate companies in making the right decisions. Gaining deep insights into the details with data analytics is easier said than done. It is like making a perfect dish with the right ingredients added to the dish at the right temperature. The right choice of data and suitable analytical tools are necessary tools to develop the right decisions that work for your digital transformation journey. The solution might lie in moving on to more advanced analytical tools, such as AI, to improve data collection and personalization.
Policies- Company policies do matter
Company policies can no longer be considered an exclusive domain when the company’s processing methods are revamped. The policies have to be compatible with new ways of operations to address the challenges that tag along with new technologies. For example, data-driven technologies require companies to design a framework to protect the customers’ privacy or shift to the cloud with enhanced security features to facilitate remote working to cope with situations like pandemics.
Big investment is not an absolute necessity.
It is a general assumption that starting something new always implies you need to have huge money to invest. This is not always true. Digital transformation demands long-term strategy to see the results, eventually. Therefore, it makes little sense to think that a big budget is necessary to start the renovation. It boils down to how you strategize with minimal money to get maximum output of it.
As Paulo Coelho said, you need to trust. Trust is the reason you have started the process in the first place. This will make the course of your journey meaningful, despite having to negotiate the changing goals.