Business leaders are often confused about the type of digital transformation they want. Even after years, it seems to remain a challenge for many established companies.
The common reasons behind the failure of digital transformation projects are improper understanding, a wrong leader in charge, wrong KPIs, incorrect resources, etc. However, the simple way to overcome the failure is by using appropriate digital transformation initiatives.
This post will give you a clear picture of the initiatives that could lead you to a successful digital transformation journey.
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1. Upgrading IT
Begin your digital transformation journey by upgrading your IT infrastructure, mobile infrastructure, cloud, and data lakes. It will also modernize your IT and communication platforms in the process. Having access to updated tools will result in lower IT maintenance costs, higher employee satisfaction, and increased business efficiency.
In the case of mature digital companies, they need to invest in advanced tools like artificial intelligence (AI). According to IDC research, organizations that started ERP cloud migration as a digital transformation initiative before the pandemic fared well than the ones that didn’t.
2. Digitizing Business Processes
In this step, you need to use digital tools to optimize, simplify and rationalize business processes. In short, you’ll be replacing analog processes with digital ones. Using tools with advanced techs like AI, IoT (Internet of Things), 5G, etc. will aid in streamlining business processes. Sometimes, you may also need to rearchitect the system to meet your customers’ needs and serve them better.
Let your CFO or COO take the lead in digitizing your business operations. It will require a lot of your time and money, but the results will be worth it. It could help you save money, time, and people while solving your business issues and serving customers.
3. Marketing Digitally
Your next initiative should be to offer digital solutions for building brand awareness, winning more clients, or online selling – otherwise known as digital marketing. To carry out a successful digital marketing campaign, you’ll need different resources like an omnichannel presence, clean data, and artificial intelligence.
Many organizations have already started incorporating digital marketing into their business. For example, retailers nowadays use predictive analysis and AI to reach prospects even better. Aside from that, they also set up viral campaigns, geo-targeting campaigns, and digital marketplaces.
Wrapping Up
Just like any journey, the digital transformation journey also takes time. So, you must be patient while implementing digital transformation initiatives.
Besides, leaders say that starting small has a greater chance of success, which is why it is best to take small but disruptive steps to reach your goal. Short-term initiatives can most likely build confidence, increase acceptance and impact your business operations positively.
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