Digital transformation is the process of reconsidering, or restructuring, and redesigning business processes. You may achieve digital transformation by enhancing the customer experience, increasing efficiency, and lowering expenses. You can also do this by implementing an effective digital strategy.
Do you desire to incorporate digital transformation into your organization? You certainly think of it to proceed smoothly! A research by Deloitte reveals that around 70% of digital transformation initiatives encounter failure. Certainly, not all businesses that intend to transition to digital fail, but there are numerous reasons for this. But the main reason is selecting the unsuitable digital transformation partner for your business.
To digitally transform your business, you must therefore select the optimal companion to steer your ship through this digital current. In this article, we will take a look at how to select the right digital transformation partner to elevate your business.
Before continuing on to the main topic, let’s first examine why organizations should undergo digital transformation.
Related: The Role of Software in Digital Transformation for Small Businesses.
Why Do Businesses Need Digital Transformation?
The process of digitally transforming a business is all about transforming how the business works. Also modifying the way in which individuals do business using modern digital technologies. It is essential for businesses to succeed in the modern era, when consumers are largely dependent on digital technologies.
Just for a moment, put yourself in a completely unfamiliar location and have no idea how to get out from there. What are you going to do? Without a doubt, you should open your digital map, find your current location, and then enter your destination. It’s as easy as pie!
In addition, there are a number of reasons why your company needs to undergo digital transformation:
- With the advancement of technology, the demands of customers continue to exceed the limit. Because of this, the digital transformation of your organization might help you in meeting the demands of your customers.
- Consider the digital transformation of your company as an illuminating substance that can help your company become more approachable to the audience it is aiming to attract.
- The sooner your company begins to digitally transform with sophisticated technologies such as artificial intelligence, machine learning, internet of things, big data, and so on, the better it gains a competitive advantage.
- The majority of these activities could be utilized inside a process during the utilization of digital technology, which, in addition to resulting in higher efficiency, contributes to cost savings in a variety of different ways.
Making a large firm agile was a challenge in the past, but today, as a result of this, you have the ability to make your organization even more nimble and adaptable from this point forward.
While this is something that is important for all kinds, it is also something that might differ based on the type.
If you are an aspiring entreprenur and want digital transformation of your business, you may reach out to top digital transformation companies.
What are the Success Factors for Digital Transformation?
If you’re thinking about moving your business online, here are some things you should keep in mind to make sure it goes well:
- Setting clear, long-term goals for change in the company.
- Hiring an experienced digital transformation partner.
- Adding the C-suite to your trip at the top level.
- Having the right, methodical approach to change and keeping an eye on things all the time.
If you are worried about how to improve digital customer experience, read our guide.
How to Find the Right Digital Transformation Partner?
By implementing a digital transformation plan, you will eventually be able to beat your rivals in the market. Here are the key steps you need to take to find the right digital change partner:
Step 1. Set Clear Objectives and Anticipations
Before you look for a partner, you need to be very clear on what you want to achieve with your digital change. Write down your goals, standards, and key performance indicators (KPIs). They should be able to understand your goals and be on the same page with them.
Step 2. Get their References and Portfolio
This is the area where the majority of individuals commit errors. You must thoroughly investigate their references prior to forming a partnership agreement with them, as they may be exaggerating or misrepresenting about their credentials in order to obtain additional business.
Evaluate their past and present projects to determine whether they have the capacity to fulfill their commitments; if not, select an alternative company.
Step 3. Consider Their Expertise
Your ideal partner should not only understand your goal, but also have worked on similar projects with similar companies before. Find partners in your field who have already been through the digital change process before. You can find out more about their past wins by asking for case studies and references. This will give you a better idea of what working with them might be like as well as the possible outcomes.
A partner who has worked in your field before is more likely to understand the problems and chances you face. Also, they’ll know about usual problems ahead of time, which will make it easier to solve them when they come up. Maybe you can stay away from them all together.
Step 4. Evaluate Technological Proficiency
A big part of digital transformation is technology. One of the best things about working with someone on digital transformation is that they can give you tools and skilled knowledge that you wouldn’t have otherwise.
But first, you need to make sure that the possible partner has the right tech tools and skills. Check how adept they are at using technology, notably how well they understand new technologies like AI, machine learning, and cloud computing.
Step 5. Consider Capabilities in Change Management
For best digital transformation to work, it takes more than just technology; it also needs good change management. Check to see how well the partner can handle organizational change, including methods for training, communication, and getting employees involved.
Step 6. Collaborative Methodology
Pick a person who values working together and as a team. Early on, they should include your most important stakeholders from different parts and levels of your company. IT, operations, financial, sales, and marketing all need to work together to make things work.
Step 7. Personalization and Adaptability
Your business is one of a kind and has its own needs and problems. Because of this, you should have a digital transformation plan that is made just for you. Stay away from partners who offer services that are too generic, as they might not be able to help you with your specific problems.
You will have more success with a partner who is personal, process-led, and uses data about your present operations and processes to help you figure out what to do next.
Step 8. Effective Communication
Communication that works well is very important during the digital change process. Make sure that your partner keeps the lines of conversation clear and open. They should keep you up to date on problems, success, and any changes that need to be made.
Step 9. Pay attention to ROI
A trusted partner should be focused on helping you get a return on your investment (ROI) from your digital transformation. Talk about how they’re going to track progress and give real results, and make sure there are clear goals and expectations.
Step 10. Maintenance and assistance
The move to digital is a constant process. Ask about assistance and maintenance services after the implementation is done. To make sure long-term success, your partner should help, train, give your team reports, and fix problems as needed.
Bonus Step 11. Set a goal timeline
The last step is to agree on a schedule for attaining your objectives. You must determine how long it will take to get your desired outcome and how much you are willing to invest in this endeavor.
This is crucial since it indicates whether or not the organization is committed to completing the project on schedule. If they are, you may be confident that they have the necessary resources to complete the work.
Also read: The Role of Software in Digital Transformation for Small Businesses
Why Choosing Best Digital Transformation Partners Are Important?
An increasing number of organizations are choosing to collaborate with a digital transformation partner. This collaboration surpasses that of a mere technology vendor, as they do not merely deliver the tools to you and depart:
1) Overcome by Experience
Best digital transformation partners are professionals in their field, having assisted businesses of all sizes and in all industries in successfully completing the transition. By virtue of this expertise, your digital transformation partner remains by your side throughout the entire process, not only assisting with implementation but also providing counsel that can enhance your decision-making regarding technology selection, managing change, and addressing unforeseen obstacles.
2) Accelerating the Pace of Learning
Partnering with experts enables one to gain insights from their previous errors and achievements. By expediting the learning process, one can circumvent typical challenges and arrive at well-informed judgments, thereby conserving both time and resources.
3) Modern Resources at Your Fingertips
Partners in digital transformation are well-informed about the most recent trends and technologies. Innovative tools and solutions that can substantially improve your operations and competitiveness may be made available to you by them.
4) Customized Products
Due to the unique nature of your business, a one-size-fits-all strategy is inadequate. By aligning solutions with your business objectives, a partner can guarantee that the transformation journey is customized to suit your specific requirements.
5) Expertise in Leading Change
A cultural and organizational transformation that is effectively managed is among the most vital components of digital transformation. Proficient partners possess the requisite knowledge and skills to effectively manage these obstacles, thereby guaranteeing that your personnel wholeheartedly adopt the transition and optimize its advantages.
With these advantages, digital transformation partners do not conform to all circumstances. Some are more suitable than others for particular types of enterprises. However, finding your ideal partner is crucial for this reason.
Top Tips for Successful Digital Transformation
1) Flexibility and Adaptability
Digital environment is in a perpetual state of change. In light of economic constraints and the imperative for organizations to adjust in the digital era, the implementation of an Agile methodology can expedite, optimize, and modify digital transformations.
Agile is a methodology that has been implemented by numerous companies, including Apple, IBM, and Microsoft. It is founded upon a broad range of principles, which encompass cooperation, change acceptance, and early and continuous delivery.
ServiceNow research reveals that Agile organizations outperform non-Agile organizations on virtually every metric, with market share increasing by 11% and customer loyalty increasing by as much as 20%. You might be interested in top ServiceNow alternatives.
2) Track and Measure Growth
When companies start digital transformation projects, they should set KPIs and metrics to track how well the projects are going. They should then keep an eye on these metrics and make changes to their plans as needed.
Gartner says that companies should pick the right digital measures of success to get the business results they want.
Must read: Best App Marketing Companies
3) Implement in Phases
A “big bang” method is not good for organizations that are going through digital transformations. By making changes in reasonable steps, you give yourself time to learn and make changes based on what stakeholders say. This is what MIT Sloan Management Review says: “Digital Transformation is better thought of as continual adaptation to a constantly changing environment.”
4) Ensure Data Security and Compliance
Digital transformation generally includes processing large amounts of data, thus businesses must have strong data security measures.
Modern technologies like Secure Access Service Edge (SASE) securely link users and machines to applications and services anywhere.
“Organisations usually start their transformation journey with the end goal of becoming more competitive by moving faster and smarter,” says Zscaler, which lists a number of benefits that transformation can bring. They include a rise in productivity from getting rid of slow backhauls through data centres and security controls that cause latency.
5) Get Workers Involved and Trained
With many digital transformation attempts ultimately proving ineffective, businesses should engage employees at all levels in the transformation process. Provide the required training and support to help them adjust to new technology and processes.
According to study by the University of Oxford’s Saïd Business School, employee engagement programs can help enhance the odds of successful digital transformation by more than two and a half times, from 28% to 73%.
Also Read: Tips For Improving Your Digital Marketing ROI
Final Thoughts
No matter what the transformation means for your business, going on it without the right team of experts by your side is risky and could hurt your potential of future success.
A digital transformation partner can help you plan, carry out, and speed up the transformation so that you can be successful in the long run, even as things change quickly and often. Your business can get new skills, contacts, and ideas that can help it get ready for the future and fight on a whole new level if it has the right partner or partner ecosystem.
