Indisputably executives have been considering the digital transformation (DX) as one of the top strategic priorities for a decade. What’s so special with the digital upheaval? Doesn’t the digital transformation sound only like a buzzword nowadays?
Executive summary
The DX definition is ubiquitous but ambiguous. Its understanding in detail varies across industries and companies. Let us present what we think.
First of all, we believe that digital transformation is about setting up strategies to reshape the business side, suited to the modern challenges and searching for innovation. It’s not only an IT transformation, even if technology fills out most areas of day-to-day human activities.
The digital transformation uses technology as a means, not an end.
On the other hand, it’s not a business-as-usual one-off improvement. It should be an ambitious, coherent journey to move your organisation to an upper digital maturity level. The essence of a DX program lies in its scope and the expected outcomes. Ideally, your organisation should aim for sustainable long-term benefits. Unless you look over the horizon, your plan perhaps doesn’t seem to be a significant initiative. You also have to define how far and how fast you plan to transform your business.
You need to answer the question of what your top business priority is. How do you want to build a competitive advantage, protect the growth and recurring earnings over the years? How will you make your clients, employees and shareholders passionate about the change? Will they understand it and support its adoption? The successful digital transformations are led from the top. But the changes have to excite everyone and evoke positive emotions at the end.
In your company, you may already have a few different DX programs. Perhaps more than one, with each at a different maturity stage. Likely, one of your current themes touch or will soon refer to one of the following:
That’s great if you have a clear digital transformation plan and have already started the transformation. Have you measured the benefits achieved so far? Does the adoption of digital technology proceed at the same pace across your different organisational units? How many topical queries have you already raised to update outmoded business models? Worth achieving better results? What about the best timing for further pivoting?
You can do nothing, or you can implement a digital transformation strategy. You can lose or win. You can reimagine some of your processes, or you can introduce a solid positive digital upheaval. You can get some short-term gains, or you can guarantee long-term sustainable benefits. The strategic improvement is not when you become better at 7%, but when you are better by 77%.
VirtusLab provides a wide spectrum of consulting services to create strategic value from digital transformation. We care deeply about what we do to drive fundamental, sustainable changes for clients and communities for tomorrow. We blend powerful breakthrough technologies, our business and tech skills, a huge passion and industry experience to help our clients address their greatest ambitions. Our company has a 10-year track record of helping businesses of all sizes succeed. Our digital transformation expertise refers mainly to data and analytics, cloud and customer-centric reactive systems.
More about digital transformation -> virtuslab.com/digital-transformation
