Five Creative Ways To Lead A Digital Transformation
Various experiences with digital transformation (DX) projects, including the failures and success stories in organizations, have taught us one thing: digital transformation is about people and not about technology. This argument is now widely accepted as organizations have moved away from focusing on only the technology and off-the-shelf technological solutions to their needs.
Unfortunately, this view remains highly optimistic as the success rate for digital transformation projects continues to be abysmally low at less than 30%. In fact, “this success rate is possibly lower than the surveys have suggested if we consider that how we define failure in digital transformation projects is often generous, thus masking the true state of affairs,” says Dr Lebene Soga of Henley Business School’s Centre for Entrepreneurship. There is even a bigger problem at hand as organizations emerge from the pandemic. The disruptions precipitated by the COVID-19 pandemic have forced organizations to rethink their digital strategies and to transform or risk expiration.
The clock is ticking. Amidst disruptions in global supply chains and the need to build resilience into business models to withstand exogenous shocks, the human factor is suddenly more pronounced, and organizations must pay attention. Digital transformation necessitated by the pandemic must therefore be approached as navigating uncharted waters and deploying navigational skills, as former Sea Captain Chris Lever popularly argues, instead of remaining lost in the fog. Here are five ways to lead DX in these uncertain times:
As the global economy and community continue to grapple with and fight the spread of the coronavirus, many companies leveraged this time to propel them to be a digital-first workforce. When faced with the pandemic, many leaders saw it as an opportunity for structural change. “We knew that in every crisis, there is also an opportunity,” said Martín Migoya, CEO of digitally native company Globant. “We took advantage of the at-home time to better ourselves and learn new skills by launching a company-wide program to upskill and reskill our professionals so that we could serve our clients accordingly.”
A digital transformation necessitates many changes, but arguably most important is ensuring that stakeholders are informed and aligned with your mission. “Companies need the latest technologies to empower their teams but also the right human capabilities, creativity, and innovative mindset to make the best out of them,” said Migoya. “Working on an integrated and holistic strategy, involving all parts of the organization, leads to success. In addition, organizations need to understand that these processes are not a one-off but a continuous improvement process.” Any company can embark on a digital transformation, but those that ensure their employees, investors, and customers are involved can sustain it through team collaboration, innovation, and agility.
For enterprises looking to implement a digital transformation internally, it must be underscored that all parts of the organization must be considered and leveraged when rolling it out and improving it over time. Transitioning to a digital-centric business model is not a quick, easy feat and involves parties from all business areas to ensure its success.
