Across industries, organisations are accelerating digital transformation processes for long-term growth and profitability. Yet: “53% of the organizations surveyed remain untested in the face of digital challenge and their digital transformation readiness therefore uncertain.” According to this latest survey from Gartner most organisations are still not ready to transform digitally and have not fully realised the critical role that automation plays in the process. Unaware of best practices to scope, implement and scale projects, businesses are quite often getting demotivated because of project overruns and increasing costs of transformation.
What is the best way to lead, scope, scale and lead digital business transformation?
ABP has delivered successful business transformation projects and in this blog, we discuss the five most important factors that contribute to the successful implementation.
Digital Transformation is redesigning your process landscape aligning them to corporate goals, market needs and new digital business models. The first of the five-key factors is
Empower and Manage. For a successful transformation project, there is a need for strong sponsorship with an unequivocal mandate. This allows for support through a well-designed implementation model and sets the foundations for a successful digital transformation initiative. The most successful companies establish cross-functional teams for their digital business transformation initiatives spanning across IT, Leadership and functional heads.
The second factor is Approach and Pathway. Agreeing on a common approach to implementation of technology is fundamental to transform processes. Businesses often get confused about starting small or taking a big bang approach. High rates of success are seen when businesses develop an overall transformation goal, but the adoption is phased in small deliver cycles, generating value quickly for the business. A phased implementation also supports scalability as learning, best-practices and methodologies could be applied to transform other process in the business.
ABP allows for tailored business transformation projects, using technologies to advance the progression of any processes currently in place. This leads to the third most important factor:
Skills and Competences. It is of paramount importance to find the right balance between business knowledge, versus having technology skills. A good mix of the two along with agility acts as a key enabler for change to take place, resulting in rewarding outcomes.
Number four comprises of Patterns and Consistency. There are several reasons why both are key players within a successful transformation journey. One being that using a pattern design approach will assure reusability and will drive reducing costs down. This also maximises efficiency across operations, creating shared expertise that further reduces cost of operations. Lastly, an overview needs to be considered
Quality and Measure. Through adopting clear methods and taking on investment decisions based on real ROI indicators. Such as reduction in processing time for claims is a good indicator of success. It's important to define clear KPIs and SLAs and monitor the processes’ performance in line with the defined goals.
Digital Transformation initiatives provide rewarding outcomes when strategically aligned to business goals and consistent effort in technology, skills and consulting is put towards it. ABP Consultancy believes technology is only the enabler to digital transformation and an inclusive approach that considers all the above-mentioned factors leads to a successful business transformation.