One had only heard the word DIGITS and abhorred it for it appeared in a Mathematics and many would have liked to avoid it. Little later, one heard of Analog and Digital, and only knew of these two things. Digital was a clock, an indicator that one saw in railway stations or airports, and many wore it as a watch. The word digital has come to haunt you once again and not asking you to transform, but embracing your compulsorily and screaming at you — Wake up to the New Normal!
Many things that existed for years, but few used – video, conferencing, Work From Home, and so on. A Pandemic like COVID 19 and a lockdown has truly transformed the world to adopt Digital ways. In the meantime, digital Transformation embraced organization and not the other way round, as one had to leave legacy operations of the past and embrace the ever-changing business model brought about by technology, thus migrating into the digital realm. A Tsunami of sorts.
My driver is my daily alarm to remind me that I have to leave for the office, as he comes home and takes my bag and other paraphernalia. I can’t catch that extra nap travelling to office, or engaging in a conversation with car pool colleagues. That unwinding (warm-up) before starting the day’s work (game) has vanished into thin air. Bed-Bath-Breakfast-Boardroom or Bed-Breakfast-Bath-Boardroom has become my sequence. The relevance of office spaces seems to have vanished, roles redefined, and organizations resembling for as things are resuming it is only about one third the staff that attends.
Hub and spoke operations that were earlier followed between head office and branch offices, now seems to have come to the head office itself. Given the speed of Adoption and Adaptation (in that sequence) , suddenly organizations experience De-Aging, and get younger by 10-15 years. Whre are the traditional soft skills of Communication, Negotiation, Interpersonal relations, Problem solving, Decision Making, etc., gone
Suddenly this digital transformation has accelerated business activities, processes, competencies and models. Organizations that harness their potential can hope to leverage the changes and opportunities of digital technologies and their impact in a strategic and prioritized way.
Earlier, Business leaders wanted IT to be focused on business results, innovation, and continuous improvement, and look for a platform that lets them free the data to move seamlessly across the data supply chain, helping surface insights that are universally accessible across the organization. Quick Response to Technology innovation, customer behavior and demand, and external environmental factors have become imperative and not just critical for organizations need to evolve to address the changing business landscapes.
Typically technological innovations leads technology disruptions, but it is important to examine whether these innovation bring value to the organization. Transformation is also about effectively using and adopting technological innovations that is beneficial to the end customer.
The number one choice of business is “improving the experience of customers, followed by growing revenues, improving differentiation, and reducing costs. Banks could be seen as an illustrative example with ATM’s , Net Banking , and other services where one had to interface with technology rather than a human. e-commerce would be another sector that made life easier. Customers experienced the increased technological capabilities combined with the ease of use. The organization dealt with challenging external influences such as regulatory laws, changing economy, market competition, and business partner demands.
Business leaders must constantly challenge their organizations to ensure this change can unlock productivity gains and significant competitive advantage all while delivering exceptional customer experience.
Organizations have to look at digital business transformation as the ultimate challenge in change management, as it impacts not only industry structures and strategic positioning but it affects all levels of an organization (every task, activity, process) and even its extended supply chain. As a business leader you are grappling with making something contagious, while taking measures to contain something else that is contagious!
While many business are still thinking about digital transformation and the power of disruptions, there is no longer time to take baby steps and get your feet wet. It’s a sink or swim environment for many businesses. Digital transformation is both an end result and an ongoing process. There is no quick fix for digital transformation. To maintain relevancy, you will need to implement digital solutions that keep your company moving forward into the digital era and not standing still or moving backwards.
Companies need to think about transitioning core business processes and digitize the client/business process first. They have to think about which applications, platforms, and solutions fit into their culture, daily operations, and budget. Businesses that take advantage of the new changes, and who understand how these changes affect daily life, can modify their practices to meet the needs of the consumer.
The best companies —combine digital activity with strong leadership to turn technology into transformation. Leading digital change requires managers to have a vision of how to transform their company for a digital world. So, where can you look? What digital activities represent good opportunities for your business?
Digital transformation requires strong leadership to drive change. But it also requires a vision for what parts of the company you want to transform. Companies in all industries and regions are experimenting with — and benefiting from — digital transformation. Where are you on the digital transformation curve — Water, Ice, Melted Again, Steam or Evaporating and hoping for a rebirth!