Accelerators for Digital Transformation
For the past couple of years we have seen organizations battling with change when it comes to digital revelations. We all have come to a stage where it is fairly obvious that accepting new technologies is not the challenge but the real struggle lies in incorporating that in your organizational DNA. This is highly proven when we see companies who started early and thus are now reaping the benefits.
So the real question looming is that what an organization can do to accelerate digital transformation in their workplaces. A few months ago Gartner specified 3 scale accelerators, which can catalyze digital transformations,
Focusing on network effect technologies
Commercialized Digital Platforms
Let’s have a closer look at all of them,
Today’s business landscape calls for quick decision making, optimization of capacities, rapid change etc. all of which can only come by building a high performance digital workplace.
Digital dexterity essentially means building a flexible and agile workforce, which is motivated to put in extra efforts for your organization. Digital dexterity can be built by encouraging employee autonomy and taking efforts in creating a consumerized work environment. By providing employees with freedom rather than a controlled relationship, you get a motivated workforce, which voluntarily adds to the effectiveness of the business. Digital dexterity does not stand for a technical strategy but a long-term organizational plan and thus requires collaboration and coordination of all the departments. This will also facilitate employee’s voices being heard and quality contributions.
If you want to build an agile workforce you need to have a dynamic approach towards the way business is done. Creating a roadmap towards goals and keeping room for reassessment when those are achieved is important. This will exhibit increased adaptability. Last but definitely not the least, you need to drive your decision making based on data and have fixed metrics for what you need to know at all times. Keeping a track of these will ensure you fail fast and bounce back faster.
Building on network effects:
History proves that network effect technologies have come in to disrupt and as they have built on provided tremendous opportunities for growth. Digital transformation cannot be achieved if an organization is unable to exploit these network effect technologies as they come and creating value streams around them. The network effect technologies doing rounds, which an organization needs to look for, are, Artificial Intelligence, Internet of Things, APIs, Edge Computing, etc.
The more tightly woven business processes you build around these network effect technologies the more you have to gain from it. IoT is making the impossible possible now by connecting things which were never considered a source of information. Gaining insights from inanimate objects real time is pushing the business product portfolios to the extremes. Combining this with AI and machine learning, business functions are getting a human nature leading to various iterative functions getting automated. If we observe the companies, which have successfully built on network effects, we can say that this is just the beginning for them as they are investing in tomorrow. Trends like Edge Computing, which have pushed the ‘Cloud’ on a backseat are already creating new revenue streams for organizations like DELL.
The CIO’s and CDO’s need to scan through their resource kitty and take calls on getting the right people and systems onboard to make the best of these network effects if they want their enterprises to transform on a digital note.
Commercialized Digital Platforms
Digital platforms serve as a tool to transform the customer experiences, operational processes, and the business models of enterprises. Digital platform uses are not limited just for launching products or services but is now serving as a tool of connecting to customers in moments and providing with high-level customer experience. It is essential for companies to not look at investment in IT as costs but look at it as investment because if you want to initiate digital transformation for your company you need to put your money in digital.
We are living in the Experience economy and creating unique experiences for your customers via these platforms at any given time is going to earn you loyalty. Incorporating high end algorithms and AI with your digital platforms can enable your systems to learn with iterative approach and assist in making everything data-enabled and ensure higher level of accuracy in serving personalized solutions to your customers.
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