Co-Founder Taliferro
Introduction
The world is changing, and so are we. Digital technologies have changed how we work and live, and they will only get more critical in the future. To stay ahead of the curve, your organization needs a Digital Transformation strategy to help you adapt to these changes and remain relevant as a business. The first step in any Digital Transformation project is figuring out where you want it to go. This means defining goals, KPIs (Key Performance Indicators), cost structures, and timelines for delivery before embarking on any project work or implementing technology solutions.
Digital Transformation Is a State of Mind
The transformation we're talking about is a state of mind, not just about technology. It's about changing how we work, interact with customers and suppliers, and do business.
Know the Past, Respect the Present, and Build the Future
We believe that to transform your business; you need to know the past and respect the present. When we say "know your history," we mean looking at where you have been and what has brought you to where you are now. By doing this, we can see if our current ways of working are still relevant or just legacy approaches that may be holding us back from being truly innovative and competitive.
By understanding our history better, we can also understand why certain things are the way they are - which helps us make better decisions when faced with new challenges or opportunities. For example: knowing how things were done traditionally might allow us to realize when it's time for change because something isn't working anymore (like using paper-based processes instead of digital ones).
Respecting our present circumstances and the people within them (including customers) means being open-minded enough. Hence, listening and understanding what others might have experienced before reaching their conclusions about what works best across different industries, contexts/environmental conditions, etc.
Build Collaborative Partnerships
One of the most important things to focus on when building a successful transformation is collaboration. It's not enough to have great technology or processes; you need to truly work with your customers and partners to benefit from it.
You could look at several examples where companies have failed because they didn't collaborate with their suppliers. For example, many years ago, an organization wanted to implement an ERP system. Still, they were told that if they did so, the systems would not be integrated with any other software they had used previously. The company ended up choosing another supplier who could offer better integration capabilities, despite having more expensive systems overall - this shows how critical it is for organizations like yours and ours to work together.
Define Key Performance Indicators (KPIs) and Cost Structures
We find that the best way to understand where you are, where you want to be, and what it will take is by defining key performance indicators (KPIs). Other methods exist, but this one works well for us. It's called a "Value Assessment" or "Cost Accumulation." This process helps us identify the costs of achieving various outcomes and the costs associated with not reaching them. For example, if we want our cross-functional teams to work better together than they currently do (one of our current goals), we would define specific KPIs (for example: how often do employees work on each other's teams) that would enable us to measure progress toward this goal over time.
Work with Data, not Intuition
Data is the new commodity in our digital economy.
It is no longer enough for companies to have a solid fundamental understanding of their customers or markets; now, they need data-driven insights into those areas too. It's not enough to rely on Intuition anymore—you must gather all available information from your business systems and use it effectively if you want your transformation efforts (and your company) to succeed.
Be a Storyteller in addition to a Scientist
Tailor your stories to the audience. Tell the story that matters most to them, and use it to express your message in a way that resonates with them. Use storytelling as a way of engaging, inspiring, and encouraging people. Use storytelling as a method of communication that conveys complex ideas in simple ways. Use storytelling to create a common language between members of various teams or departments who do not share working languages or backgrounds (e.g., IT professionals versus marketing professionals). This can help build trust between groups by helping each understand the other's language and values.
Plan Iteratively and Live Agilely
Plan your work, but be prepared to change plans based on new information. As you discover the details of what's to be done, adapt your plan to stay aligned with the goals and objectives. Iterative planning helps you stay agile as you work towards your transformation goals. Iterative planning is a process of planning, executing, assessing, and repeating. It's an approach that allows you to stay agile as you work towards your transformation goals. Iteration helps you make changes to your plan and adapt it based on reality—what happened during each step.
If your transformation project is new and high-risk, iterative planning can be a valuable tool for digital Transformation.
Conclusion
Digital Transformation is a journey for every organization. It's about improving your work, not just doing things differently. By taking an iterative approach to your Digital Transformation, you can ensure that your efforts are focused on what matters and achieve results faster than ever before.
Tyrone Showers