As digital technologies continue to transform industries, numerous businesses are undertaking large-scale change initiatives in order to reap the advantages of these trends and stay competitive. According to a McKinsey Global Survey on Digital Transformation in 2018, eight out of ten respondents said their companies had made digital transformation efforts in the previous five years.
Digital transformation has become such a buzzword that it’s become a little bit of a catch-all term that can be confusing. Although the term has a different meaning for each individual company, it ultimately denotes a radical rethinking of how the company wants to employ technology, processes, and people to improve its overall performance.
Given the many benefits of digital transformation, the question lies, how do you craft an effective digital transformation strategy? In this article, we explore the 4 essential pillars of any successful digital transformation framework.
What is digital transformation?
Before we get started, let’s have a quick recap of what digital transformation is all about.
Simply put, digital transformation is the process of utilising digital technologies to create new or modify existing business processes. Typically, digital transformation is implemented to improve efficiency and encourage innovation in an organisation.
The 4 pillars of a successful digital transformation framework
1. Education
The first and most important aspect of digital transformation for any business is having people with the relevant skills and knowledge. If employees are not educated or skilled in the field, digital transformation will not even be possible in the first place. Thus, it is vital that organisations, regardless of industry, invest in educating everyone in the company through professional courses on digital transformation. That way, they would be equipped with the necessary skills to implement strategies to propel the organisation forward.
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2. Digitalisation
Despite the fact that many understand the significance of digitalisation, most organisations do not have a concrete plan on what to digitalise and mainly focus on customer-facing digitalisation. However, ideally, digitalisation should focus on digital innovations of all sizes – both internal and external.
This involves optimising internal operations like automation, mobility tools, digital procedures, and productivity boosts, as well as extending the business outside in areas like services, marketing & sales, technological collaborations, and product developments.
3. Innovation
In our increasingly digitalised world, the terms “artificial intelligence”, “augmented reality”, and “virtual reality” are anything but unfamiliar. After all, these technologies have the power to change how businesses and people operate completely.
To fully embrace digital transformation and become an innovative organisation, you would need to be smarter. Empower your employees by providing them with the resources to bring their ideas to life. Remember that even the smallest of innovations can change the way your company operates on a daily basis!
Small innovations like applications and online services, medium innovations like quick prototyping and agile management, and huge innovations like new business models, new markets, and collaborations are all examples of these technologies.
4. Cooperation
Cooperation, collaboration, and technological contact are crucial in this digital age. Co-corporations will be the way of the future, allowing for cross-level cooperation and connecting with the greatest technology, people, and other organisations in the digital environment.
The benefit of technological collaboration is enormous, and it will only continue to grow in the near future. Employees, business partners, consumers, and start-ups are all potential sources of collaboration.
Are you ready for digital transformation?
Preparing your organisation for digital transformation can be a daunting task, but by creating a detailed plan and utilising your team’s strengths, you can ensure that you are prepared to make the process successful.
Take the first step to transforming your business with our online course in Singapore – Workforce Transformation 4.0. Through this course, you will learn the necessary skills and knowledge required to develop and execute effective strategies for your organisation’s digital transformation journey.
For other training courses, browse Aventis Learning Group’s extensive selection today. Do not hesitate to drop us a message at training.aventis@gmail.com if you have any enquiries and we would be more than happy to assist you.
