The Great Acceleration & Digital Transformation

The Great Acceleration is here. The Global Pandemic has caused dramatic shifts in consumer behaviors forcing companies to adapt digitally and transform their business more rapidly than before. To remain competitive in this rapidly changing world, companies must embrace the changes and stay on top of trends in Digital Transformation, to enhance their agility, speed and data-driven decision making. 

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“There is no alternative to Digital Transformation. Visionary companies will carve out new strategic options for themselves - those that don’t adapt will fail.” - Jeff Bezos

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What is Digital Transformation? 

Digital Transformation is when companies use digital technologies to enhance operations, what worked yesterday may quickly become obsolete. According to research from BCG, Digital Transformations have become the #1 strategic imperative for most organisations, however only 30% succeed in achieving their desired outcomes and achieving change. BCG recommends, to drive successful Digital Transformation, organisations should approach digital change holistically, as a Bionic Company, combining strengths of both individuals and technology.

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“Digital Transformation is the bridge between your business today and your business tomorrow.”

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How to Drive a Successful Transformation? 

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Integrated Strategy bringing together an overarching vision, strategic initiatives and qualifying outcomes. One of the key elements in a successful digital transformation is having an inspiring vision, to align people with the change that is being undertaken. 

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Communication across all levels of the organisation on the changes taking place, at every stage throughout the transformation period will help everyone understand their specific roles, responsibilities, priorities and benchmarks. 

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Commitment to the transformation across all areas of the business, ensures every individual is on board with the transformation which is critical to the success. 

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Deploying High Calibre Talent with specific digital and change management skills can be imperative to the success of Digital Transformation. Having these leaders or skilled talent familiar with digital technologies i.e. leaders, Program Managers or Transformation Officers, either full time or contract, during this transformation period will be advantageous in guiding the change and helping every aspect of the business succeed in this time.  

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Agile governance and driving agile ways of working minimizes risks and validates that the efforts and transformations are meeting the desired outcome. In an agile environment employees are encouraged to “fail fast and fail forward”, experimentations must be allowed to grow and learn. An agile mindset is the ability to continue despite setbacks, leaders and managers who have this perseverance are more likely to deliver successful outcomes. Employing an Agile Coach throughout this process would guide and drive agile ways of working within the organisation. 

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Monitoring the progress of the Digital Transformation consistently with clear metrics and accountability helps to visualise the success or failure of the project and what needs improving or redirecting. Having a strong central entity accountable for monitoring the progress, like a Transformation officer or Transformation Director, will help the organisation assess the changes. According to BCG’s research, transformations with effective monitoring are 74% more likely to succeed. 

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Deployment of Cloud Based Tech and Data Programs, in line with business needs, is a fundamental pillar of Digital Transformation. Utilising cloud software to accelerate change and embracing AI boosts operational efficiency, lowers IT maintenance costs and increases employee satisfaction.

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The Great Acceleration is here and Digital Transformation is ever changing. Ensuring your company is up to date with the latest technology and trends is imperative to the success and longevity of the business. Expert360 can assist in supplying top talent to your business during this change, from Agile Coaches to Transformation Directors, helping your company ultimately reduce costs, boost productivity, and improve customer and employee experiences.