Digital transformation is defined as the process of adopting and integrating digital technology into numerous different business functions of an organization to meet industry trends, market changes, and evolving customer expectations. One of the key factors for the success of any modern organization is constant and consistent digital transformation.
Studies have shown that the digital transformation industry is expected to reach a market value of approximately $3.3 trillion with a Compound Annual Growth Rate (CAGR) of 23% by 2025. Digital transformation can help your business redefine existing business processes, enhance existing systems, automate workflows, gain a competitive advantage and much more.
Steps To Digital Transformation
1) Decide Organizational Goals and Objectives
Every business has a different approach to digital transformation and has different outcome expectations from the process. Therefore, one of the most important steps of the digital transformation process is deciding your business’s short-term and long-term goals and objectives.
Your business can determine its expectations by analyzing the current state of your organization in terms of strategic gaps, existing technology, day-to-day operational challenges, and current customer expectation and satisfaction rates. You then have to determine how technology can be incorporated in these areas.
Your business must also take into account certain business processes that may require optimization as well as various challenges that your business may face while undergoing digital transformation.
2) Analyze Current Resources and Capacity
Although your business may have a specific idea of the digital transformation processes that it wishes to undertake, it is crucial to assess and analyze your current organizational resources and capabilities.
Before undergoing digital transformation processes, your business must assess factors such as current performance capacity, available financial and human resources, and available technology. You should also take into account the costs of the technology you need and if your company has the purchasing power to acquire them.
If your business undergoes digital transformation without the necessary resources, your organization may be left vulnerable to competitive threats or long-term financial hindrances. Therefore, if your company does not possess the necessary resources and capacity, you must also determine how to either scale back organizational goals and objectives or gather the required resources.
3) Create and Implement a Digital Transformation Strategy
Once you know your resources and capacity, your business must create a comprehensive and holistic digital transformation strategy. There are a wide variety of strategic tactics that your business can adopt to facilitate effective digital transformation such as auditing and rebuilding IT structures, modernizing products using technological advancements, and implementing automation technology to streamline repetitive and time-consuming business processes.
Furthermore, when analyzing and selecting available technology, your business must determine which solutions align with your long-term goals, available resources, and digital transformation strategy. While implementing your digital transformation strategy, it is important to measure key metrics that can provide insight into whether or not the strategy is effective.
4) Foster Transparency and Provide Structure
Effectively communicating your digital transformation strategy to employees and stakeholders is just as important as the strategy itself. Therefore, your business must provide employees and stakeholders with transparency and insight into digital transformation goals, prepare them for how it will affect them in the short term and long run, and provide the necessary training.
Planet Crust – Facilitate Digital Transformation
You don’t have to invest in expensive proprietary organizational software if you can build your software with Planet Crust. Planet Crust’s open-source low-code platform can help you create software that meets all your company’s needs. This software can help you pave your organization’s path to efficient digital transformation.
Planet Crust’s CRM platform can help you automate various office workflows and maintain a comprehensive database of your company and customer data. Planet Crust’s low-code comes with pre-built modules and drag-and-drop editors that make software development a simple task that non-coders can easily perform.
Try a demo of the all-rounding low-code platform and discover new avenues to your company’s digital transformation.