What is holding back your digital transformation process?
Digital transformation, once a concept, is now the present and future of every industry. Simply put, digital transformation is navigating your business in the digital age by leveraging technology. The trend of digital transformation is on the rise as organizations are rapidly shifting from legacy systems to digital modes of operations. However, it is a complex process, and the journey is often posed with multiple challenges that can impede its success. This article attempts to discuss the top 5 reasons that are holding back your digital transformation process.
Challenges of the digital transformation process
While digital transformation has immense potential allowing organizations to innovate and expand, there are several underlying challenges that can hinder its success.
Here are 5 key challenges of the digital transformation process:
- Lack of skills: According to a study by the Harvey Nash Group, 54% of companies were unable to accomplish the digital transformation process due to the lack of trained IT employees. It is a primary roadblock that slows down and can even put a stop to the digital transformation journey.
- Budgetary constraints: Digital transformation requires a large amount of investment, especially when shifting all manual processes to digital. However, most organizations are not prepared for financial commitments. Along the way several factors add to the cost, leaving the organization perplexed.
- Security concerns: Data is a vital asset for every organization. However, it is vulnerable to theft or loss. The threat of cyber-attacks often forces organizations to be skeptical of the entire process. Some organizations also push back their plans due to security hazards.
- Lack of strategy: Before adopting digital transformation every organization must ask a myriad of fundamental questions? In the event that these questions are overlooked the digital transformation journey becomes radar-less. There is no digital transformation strategy in place that guides the process. Organizations that get carried away by a buzzword often land up with insufficient planning thus failing the process.
- Employee attitude towards change: Employees in organizations that use legacy systems for years often become resistant to change. Often those with an orthodox mentality look down upon automation and make it difficult to adopt new technologies.
How can you overcome these obstacles?
When shifting from an age-old process to agile futuristic solutions, it is imperative for every organization to have a checklist that guides the transformation process. While a generic list may not work for all, here are some common pointers that will help you in meeting the challenges of digital transformation.
- Seek for help: Digital transformation demands hefty investments and commitment. In such a case, it is prudent to reach out to professionals and industry experts for assistance. Hiring digital transformation consultants gives you assurance and comfort.
- Implement change management strategies through a change leadership team: Analyzing your current workforce, identifying those who can innovate and influence. Create a robust team with these members who will act as the harbinger of change and help smoothly implement the change management strategies.
- Have clarity of goals: Identify what are your organizational goals and how digital transformation helps you achieve them. Once you know your goals align your strategies such that digital transformation takes you closer to them. It also gives your digital transformation journey a direction.
- Empower your team through upskilling: A change in the organization poses the threat of redundancy for some employees, forcing them to oppose it. The best way to deal with this is by helping them upskilling and reskilling. Although this might seem like an expensive affair, it proves to be a fruitful investment in the future.
- Prepare a list of KPIs: Remember, “success” is vague unless it is measurable. To navigate a business in the digital age, embracing digital transformation is the only way to sustain. Yet, digital transformation is not only limited to moving from offline to online. It should be reflected and quantifiable. Key performance indicators such as augmented customer experience, marketing performance, innovation, and revenue generation help you track the progress of the digital transformation journey.
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