Digital transformation seems to be key for all companies. Although approximately 47% of companies have not yet started “their digital transformation”, two out of three CEOs have placed digital transformation at the center of their corporate strategy.
And that is basically because of two issues:
Because digital transformation represents an opportunity to increase business figures and optimize costs. The companies that have initiated this transformation:
- 39% have made more transactions.
- 32% have made their processes more efficient.
- 25% have made their product development processes faster.
- 28% have managed to attract more customers.
- 33% have developed new sales channels.
On the other hand, the same digital transformation is perceived as a threat by large corporations. Several studies conclude that in the next five years the digital transformation, driven by digitally proactive start-ups, will shift from the market to about 40% of the current companies of the main sectors.
Here are three keys that we understand to be taken into account in order to tackle digital transformation successfully:
Culture
Digital transformation is a cross-organizational process, affecting all departments and processes, and should allow us to identify business-aligned opportunities by actively linking the different internal and external stakeholders to the development of solutions. All this in a fast and agile way.
That is why it is essential to have an entrepreneurial culture based on the new models and ways of relating. It is a top-down process, which must be driven from the executive level, as well as by HR departments on a cultural level and with the implementation of new digital tools, involving the members of the organization in a new culture that perceives Digital transformation as an opportunity; People must be the key to creating a dynamic, innovative and competitive company.
Although corporate culture is a key factor in the implementation of digital transformation, it remains one of the major challenges; 62% of employees surveyed perceive corporate culture as one of the biggest challenges on the road to digitalization.
Agility
In any sector new services and / or products are constantly being improved and created. That is why it is essential to be agile and be oriented to continuous improvement.
Keep in mind that customer expectations are altered as they interact with other businesses. The client wants a transparent company in size or status and therefore it is imperative to act permanently on the change and that the organization is able to keep pace with its environment.
This reality represents a great challenge for large corporations whose processes, people and idiosyncrasies are not aligned with the speed at which technology evolves and its potential applications; 68% of companies identify agility as one of their most important initiatives.
User experience Orientation.
It should not be forgotten that digitization must be aligned with clear business objectives and should focus on keeping the customer at the center of the strategy; We must conceive technology as a means and not as an end to meet their expectations.
In the digitized world, customers expect immediate, personalized, consistent and quality attention in every interaction, regardless of location and channel; Social networks, web, mobile, bot, etc. It is, after the adoption of new technologies and the democratization of technological developments, the customer himself the motor of the change of consumption. Reason why most companies have the perception that they are “behind” the client and therefore is not being offered a digital experience to live up to their expectations; Only 15% of companies consider that the digital experience proposed is superior to what the client expects.
Consequently, the objective must be to create value for users, and therefore these must be part of the development process, we must empathize with them to understand and adapt to their concerns and needs. We need to gain the insights that help us define our service and assess how technology applies to meet those needs and optimize all customer contact points.
Our SlashBoy Jordi De Juan, Global Business Development Manager, is the author of this post.
