How To Transform Your Business: Let's Evaluate Steps Of Transformation
CXOs and the boards can use existing corporate funds for technology and innovation mechanisms, and by carefully readjusting their vision on the digital side of the model and priorities
If you're a CXO level executive, for example; a CEO, CIO or CTO, it's extremely challenging in the present time if your firm is implementing digital technologies and, if it's going through a digital transformation phase.
It reminds me of a childhood game, of a snake and a ladder, where in order to move up you needed to throw the dice in a well-measured way, to obtain a desired number, that will safely put you in the ladder box, and subsequently the ladder will quickly jump you up, and help you reach the goal in much lesser time.
In between, you have multiple snakes in your ways as obstacles, i.e., harmful grey areas and, any mistake while throwing the dice would mean you will be subjected to snake bites which will pull you down to the bottom, in no time. So, if you plan to put the digital technologies to transform your business and the processes, then you have to be wary of those pitfalls to move ahead in an extremely calculated manner. It's exactly where you need to consult firms which are pioneer in these technologies.
It is a profound field, if you approach in a structured manner you can implement them with greater ease and the turnaround time too will be far less to get you the quick rewards. Now, before getting into more complex scenario and discussion, it would be ideal to understand them in a more holistic manner.
What is a digital transformation?
It is a series of profound steps that you need to take to implement the digital technologies to maximise your business activities, processes, competencies and impact across the society in a strategic and organised manner, keeping the present and future goals in the mind.
In terms of the digital transformation steps, there are a lot of talks that range from innovation to strategy and to practical and logical steps to its effective implementation. Now, everyone tries to share ideas with a CEO, CTO and CIO or may be with the board.
But, how should a firm think beyond the strategy and get to its main execution and outcomes? Hence, it is important to create a method which can bridge the gap between strategy and execution to determine a meaningful and positive outcome.
What could be the major digital transformation steps?
Step 1: Know your main priority areas or goals
Step 2: Study the latest tools and technologies
Step 3: Assume future challenges and platforms
Step 4: Understand the intricacies and life cycle
Step 5: Plan for business and digital innovations
Step 6: Keep a clear view of future modifications
Step 7: Understand bandwidth, time and budget
Step 8: Be alert for changes or a new technology
Step 9: A firm that can help you in its smooth transition
Step 10: Keep monitoring and measuring your moves
Now, we must also remind ourselves, that we live in an ever-changing technological world, and within a split of a second the established frame work around digital technology may require an overhauling or modification. Hence, the best approach is to keep a hybrid model where existing applications and infrastructure are maintained, with some need to be refurbished or modernised or castigated, while other components may need to coexist and be integrated into the system.
Again, I assume; IT will always maintain and remain in a hybrid model, hence it is important to keep and run the operations in such a balance that despite operating within the hybrid model, the divides between the two doesn't seem to affect the processes while delivering services and goods to your clients.
It is also to be noted that, in order to deploy the digital transformation technologies there're a number of firms whose services can be availed, i.e., Happiest Minds, Wipro, Cognizant, Infosys and etc.
In the end, we must mention a little about the change management, the CXOs and the boards need not worry much about creating the whole new processes, or to realign the whole wheel to execute the digital transformation initiatives. In fact, they can use existing corporate funds for technology and innovation mechanisms, and by carefully readjusting their vision on the digital side of the model and priorities.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house
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