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.
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.
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.
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.
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.
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:
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.
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.