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The Steps You Must Take to Achieve a True Digital Transformation

Posted on 19th November 2019 by FinXL

More and more businesses are developing digital-first strategies to reposition themselves in the market and stay relevant in an ever-changing environment. In fact, 89% of IT and business management decision makers claim their organisations have their eyes set on developing a digital business. Despite this, only 37% have already started executing change. 

So what’s holding businesses around the world back from adopting an effective and efficient digital transformation? 

In this whitepaper, we’ll discuss the meaning of true digital transformation and equip you with the right tools to start seeing real change.

But before you download the guide, what exactly is Digital Transformation?

“When digital transformation is done right, it’s like a caterpillar turning into a butterfly, but when done wrong, all you have is a really fast caterpillar.”

This popular quote from George Westermann, Research Scientist at the MIT Center for Digital Business, demonstrates the risk of an improper approach to digital transformation quite effectively. When seeking to create a digital business, it isn’t enough to create additional digital channels or perfect existing ones. While doing so may improve your business, it’s unlikely to create significant change and see lasting ROI. 

True digital transformation isn’t about simply digitising existing information or methods, but entirely reshaping business models. It’s typically recognised by the creation of new roles, products, departments or services that are inherently digital, rather than digitised versions of what already existed.

This digital-first approach creates a foundation for future success and ease of adaptation as the online landscape rapidly evolves. Another vital aspect of transformation is that it is the sum of its parts - not only one alteration, but a carefully mapped overhaul of processes designed to create value for your business in line with your strategic objectives. 

To summarise, true digital transformation:

  • Creates value for your business and prepares it for the future. 
  • Demands a series of shifts in your business model through to your end product. 
  • Typically requires the creation of new roles and specialised talent.

Achieving true digital transformation can be complicated but, armed with the right knowledge, it doesn’t have to be. By following these steps, you can simplify your transformation and achieve productive change.

Download the guide and find out:

  • The 3 critical steps to simplify your transformation and achieve meaningful and productive change.
  • How to launch effective digital-first strategies and ensure all stakeholders are on-board with transformation initiatives.
  • How to develop your digital capabilities and find the right people to execute transformation in your organisation.

Download The Steps you must take to achieve a true digital transformation here.