Track Your Company's Digital Transformation KPIs

Confused about how you generate effective results or you wish to know more about the digital transformation implementation, feel free to book an appointment session with LI Tech Advisors.

LI Tech Advisors Helps To Track Your Company's Digital Transformation KPIs

Many organizations are adopting digital transformation to make their company stand ahead of the curve. They try to leverage the new technologies to enhance the productivity of their business. Even though companies pursue great efforts for digital transformation - yet not every company succeeds in their effort. The main reason behind the increased failure rate is the communication gap between the two parties - the technology team and top-level executives. Therefore, to transform the company into the digital world and to implement the latest technology, the three crucial parts of the business must be on one page - people, process, and technology. When organizations overcome such challenges and bring everything together, they can rest assured that digital transformation will be successful and will give accurate results.

Digital Transformation KPIs

Digital Transformation Explained

Before making any technology decision, organizations need to focus on the three important aspects - people, process, and technology. At the first stance, the organization needs to know what people are looking for and what challenges they face. The next step should be the identification of the current process to check out the different areas that need improvement. Last but not least, organizations can freely choose the technology that can give adequate results in the end. Let's take a better example to explain the process - if you're building a new home, you first need to ask the owner about the home plan. Accessing their needs is important before the process gets started. Just similar to this, organizations need to first understand the needs and challenges of the people. And then, they can choose the proper technology that can be implemented to gain effective results.

Steps to Execute The Process of Digital Transformation

To identify and implement the right technology in the organization, it's quite important to follow the right steps to execute the whole process of digital transformation. Let's have a quick glance at the steps to follow to get highly beneficial results in the end.

  • First of all, an initial meeting session with the stakeholders is important. In this session, both parties will assess the goals, scope as well as expected results of the process. Apart from this, organizations must choose the right team to manage the whole implementation process. Once a team is identified to have ultimate results, you can proceed further.
  • The next session should be based on the team meeting. This is one of the most important aspects that will help the company to identify project goals, constraints as well as expectations of the ultimate results.
  • The interview session is the next vital step of the whole process. During this step, organizations will understand the issues, hassles, and other opportunities of the project through interviewing with the individuals. Individuals include vendors, executives as well as users.
  • Finally, it's now time to review and analyze the project internally. By bringing every important aspect together, organizations can craft the plan. Once the plan is crafted, a final meeting session is required to ensure that every factor is in the row and you're ready to finally start the project execution process.

Note - It's painfully important to set a deadline for the project execution. This is the most vital step that will help you to know when you can get to watch the results in your organization.

Measurement of Digital Transformation Process

Having the ducks in the right row isn't enough; it's important to know the results they are generating. Now that you've finally completed the project execution process, it's time to measure the result from the digital transformation. The ultimate goal of the digital transformation process is to make your business stand out from the crowd, reduce the overall expenditure and improve efficiency and productivity. Note the time required to complete the whole process to have a knowledge of whether or not the project moves in the right direction.

Similar to the KPIs, it's quite important to measure the ROI rate of digital transformation too. To have a good understanding of ROI, organizations need to analyze the cost and time spent on the digital transformation implementation process. Remember, failing to analyze the return on investment is like failing to implement a robust strategy. Always calculate the ROI based on what you've invested in the digital implementation project.

Importance of Digital Transformation KPIs

When it comes to measuring the extent and success of digital transformation, digital transformation KPIs come into play. By thoroughly utilizing the right KPIs for measurement, you can rest assured that you will get the right results by your heavy investment. But the market of KPIs is vast and confusing. Choosing the right KPI metric for measurement can be tough and daunting. To make your task easier, we've come up with the best digital transformation KPI, that is, user experience as well as productivity. The reason is:

  • User experience tracking will help organizations to know how their digital transformation is impacting their clients. They can make the necessary changes to get the maximum out of their investment.
  • For the measurement of business operations and efficiency, companies utilize productivity metrics. The right measurement will help companies to perform better and improve customer experience.

Importance of Calculating ROI in Digital Transformation

The ultimate reason behind the implementation of digital transformation is to get a high return on investment. Therefore, organizations must calculate the ROI to ensure that their digital transformation plan is working in the right direction. For instance, cost reduction, improved productivity, and high business revenue must be the main goals of digital transformation.

Need More Solutions to Your Tech Problems? Get In Touch With LI Tech Advisors!

Digital transformation implementation results aren't fixed. It will depend on how you and your organization focus on it. Implementing the right approach without measurement is just a waste of time. Therefore, you must measure different aspects of digital transformation, including the active users involved, implementation cost involved, user engagement, improvement in employee productivity, and participation level of the team. If you're still confused about how you generate effective results or you wish to know more about the digital transformation implementation, feel free to book an appointment session with LI Tech Advisors.

Thanks to our fellow Ulistic HPC member, Kenny from Velocity IT for his help with this information.