General Electric Company started a new business unit in 2015, intending to leverage data for its in-house operations to be more technologically focused. Despite massive investments and skilled resources, the model failed. Additionally, the company had to show performance updates and profit-loss statements that limited its growth, and the stocks toppled with its C.E.O., consequently having to leave.
We all know that the need to adapt to digital technologies is becoming necessary for businesses to keep up with customer expectations and growing competition. So, while digital transformation has become imperative, executing the extensive process can be challenging at every phase of its implementation. To successfully maneuver through this and find clarity in chaos, a digital transformation framework acts as a guide and helps an organization build a roadmap while undertaking this journey.
Only 34% of companies have started the digital transformation process with defined programs so far.
What do we mean by the Digital Transformation Framework?
The framework here is a tool that guides all levels of the organization throughout its digital transformation journey.
The digital transformation framework is the blueprint that describes the significant changes an organization goes through during evolving business conditions.
The framework ensures every area of the business is covered during the period of change and provides a common reference point that can be evolved as the organization changes – thus, the digital transformation framework is central to success. In addition, the digital strategy framework helps to build the roadmap that allows organizations of all sizes to evolve and succeed in the rapidly changing market conditions that now exist.
F.O.C.U.S. by Net Solutions
Net Solutions’ Digital Transformation Framework offers enterprises a guide to ensure that the digital transformation is holistic and cohesive at all stages. It incorporates all areas and teams within the business and helps understand the extensive areas needed during this metamorphosis.
The following points highlight the broader areas within the Net Solutions’ F.O.C.U.S. framework essential for a plain sailing transformation.
1. Formation of Connected Platforms
Businesses today need robust platforms while undergoing the digital transformation journey to offer a seamless experience across all customer touchpoints. A platform such as C.M.S. helps in managing the overall digital experience spanning across various channels, including emails, apps, social media, and so on.
Also, many enterprises continue to conform to conventional practices of doing business that ignores data and analytics, which are two critical accelerators of any organization’s digital transformation efforts.
A report by Google states that 85% of digital consumers start the purchasing workflow on one device yet finish it on another.
Net Solutions F.O.C.U.S. framework stresses the importance of this cultural shift of connecting various channels to deliver an agile and seamless experience.
2. Operational Agility
Digital transformation cannot be achieved by a single team or through a rigid or inflexible plan of action, for that matter. Operational agility is essential since it collectively helps solve digital transformation challenges with constant communication, regular collaboration, and continuous feedback.
In addition to letting teams work on short but productive sprints, the agile estimation approach offers the advantage of learning and sharing knowledge at every project step. Also, since agile processes are all about flexibility, it opens doors to experimenting and switching to the ideal solution during the various stages of product development.
A study reveals that 68% of companies identified ‘building agile business through digital transformation as one of their most important digital transformation initiatives.
3. Culture and Leadership
An organization’s vision and leadership commitment are the defining factors for its digital transformation. Organizations often start their digital transformation journey without a comprehensive and strategic approach, leading to undesired challenges along the way.
Often, there is a clear gap between how the higher management perceives a process and how managers execute it. This pitfall can be avoided by building a collective vision and ensuring proper distribution of ownership and tasks. The F.O.C.U.S. digital transformation framework effectively delves into the different areas of culture and leadership.
Treating employees benevolently shouldn’t be viewed as an added cost that cuts into profits, but as a powerful energizer that can grow the enterprise into something far greater than one leader could envision. – Howard Schultz, Chairman and CEO, Starbucks
4. Unified Digital Technology
Implementing the right technologies helps deliver a consistent digital experience throughout a customer’s journey and regularizing their activity, end-to-end. Organizations often collaborate with technology partners who help them meet their business goals by efficiently laying out a digital transformation strategy.
Some of the emerging technologies and tools that can be deployed for this transformation include digital apps, robotics, artificial intelligence, chatbots, the Internet of Things (IoT), customer data and analytics.
Research indicates that CEOs see cloud computing as the second-biggest technology trend (after the Internet of Things) that will significantly impact their business in the coming years.
5. Seamless Customer Experience
Digital Transformation requires businesses to deliver an exceptional experience to their users at every step of their journey. Enabling this can include scrutinizing multiple engagement points such as transaction history, demographics, support issues/complaints, product purchases, etc., to be able to keep the experience customized and consistent.
Parallelly, their experience is also the sum of the interactions spanning several online social channels and offline stores. Therefore, ensuring a great customer experience requires a holistic approach that continuously utilizes modern technology and innovation to surpass customer expectations.
Research by Gartner indicates that two-thirds of all customer experience initiatives will use I.T. by 2022, a jump from half in 2017.
Any transformation in an organization is a complicated process. Nevertheless, the decision to undergo digital transformation promises tremendous benefits for the business. Organizations can work on innovative ways of building and personalizing customer experiences, developing exciting services, and eventually disrupting the market. Organizations that have successfully transformed tend to lead the market and are the customers’ most preferred choice.
The Net Solutions’ F.O.C.U.S. Digital Transformation Framework endeavors to help organizations willing to embark on the journey that aims to put customers at the forefront of their business. The factors mentioned above in the article give an insight into the most relevant parts that matter during digital transformation. The framework is an ideal answer for anyone wanting to know where to start. As for when to start, the answer is now.
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