Digital transformation: critical success factors

Digital transformation is key not only in terms of short-term growth and market share, but also in ensuring their long-term survival and relevance. Digital platforms and ecosystems can create efficiency and through new and unexpected collaborations create new value for businesses and for customers. Digital maturity across industries has been classified into people as: beginners, conservatives, fashionistas & digital masters with digital and leadership who drive their business transformation.

The digital age has created a new way of thinking about process and operations. Smart devices with digital capabilities seamlessly offer direct benefits to industries around productivity, efficiency, innovation and decision making.

Today’s millennium for business management priorities is innovation, speed to market, public trust and human capital, leading to digital and data-driven business initiatives. The CIO priorities are to manage both innovation and operations. While on the one hand it is to increase transformation, efficiency, security, on the other hand it is cutting costs and time for new service, maintaining, simplifying IT models & infra and improving the business process.

The business results of a digital transformation program determine its critical success factor or value proposition. These can be about transformation of customer experience or business user efficiency. People, process and technology are critical factors for the success of any transformation program.

It is imperative that a digital transformation is used for the end to end process and not in a piecemeal way. An extremely jazzy and digital customer front end collection with a manual / semi-manual process in the back office or vice versa will never lead to the desired business results. So, complete digital process automation leads to innovation, efficiency and trust, and it becomes one of the critical success factors for the transformation program.

Change management is another critical success factor for a digital transformation. People / resources directly or indirectly involved in such a transformation determine the fate of any such initiative. Concerns about perceived loss of control of a manual / semi-automated process, pushing back on any change, adapting any innovation must be guided by a structured change management process that consists of clear communication, management direction, creating collaborative environment to tackle organizational cultural challenges.

Technology plays a key role in the success of an adaptable digital transformation. Instead of technical know-how or features of a software or hardware, it is easy to implement, design thinking, smooth transition and program management with a finesse that stands out and results in an acceptable digital transformation that gets applause both externally and internally.

So a CDO / CTO / CIO, who is leading the program, should have a few of the finer things in mind and plan while going around a digital transformation program.