It wouldn’t be surprising if you encountered some form of digital transformation by this point in time. The term itself means that an organization is adopting new technology into existing practices to drive stronger efficiencies and organizational alignment. However, Forbes published a statistic that stated 84% of companies have failed at this. In a post for the Association for Project Management, Ketan Patel discusses some of the nuance of digital transformation.
Taking on Transformation
In the old days, bigger was always better. Whichever organizations had the most reach and size were the ones that were able to be the most profitable. However, technology has turned the tables on that idea and now smaller organizations and start-ups are on the cutting edge. They got there because they are focusing on data at the core of their decision-making process and are not bogged down in legacy architecture. Their goal was to look at the market trends and customer interests and then plan accordingly. It’s one reason the Netflix-Blockbuster war ended with Netflix as top dog.
Change management and resilience are some of the most integral parts of digital transformation when it comes to actually adopting this change in your organization. Recognizing that your company will reach digital maturity at its own pace should drive your decision-making when plotting out how your company will adapt to digital transformation.
Patel wraps up by saying that digital security should also be in the forefront of how you go about adopting new technology:
Agile development and rapid technology innovation is excellent for the consumer – as long as all the information flying around in the air is protected. The real problem I can see is that testing things are safe in your new innovation slows down the release…As consumers we do have to consider the risks all this technology innovation carries with it – organisations have to also taken account that rapid release is good but too rapid brings other reputational risks which have to be managed.
You can view the original post here: https://www.apm.org.uk/blog/what-is-digital-transformation-anyway/