Digital transformations, when executed strategically, can give your business a strong competitive edge. Businesses that fail to transform cannot hope to remain competitive, and will likely not survive in this hyper-connected world. But success requires a measured and deliberate approach, and it is critical to set the right goals for digital transformation so that you can build an accurate and thorough roadmap.
First, Understand What Digital Transformation Means
“Digital transformation” means different things to different organizations. Because transformation is so subjective, you must first define what it means to your business. For example, Walmart’s recent digital transformation centered around prioritizing client data extraction. However, Amazon focused on using data to dictate all business decisions. Both companies are retail organizations, both had differing ideas of what “digital transformation” meant to them, but both succeeded. By first defining what transformation means, you can more clearly state and set your goals.
Digital transformation should be about setting your business up for long-term success and growth. This is only possible when your transformation goals are aligned with your organizational goals and when your transformation goals are measurable. Any digital transformation goals should consider:
- Measurement of operational efficiency improvements
- Measurement of improved customer experience (internal and external)
- Measurement of agility improvements
- Measurement of risk management improvements
Focusing on these areas will allow you to develop priorities and KPIs for your transformation goals. For example, if your organizational goals focus on improving the customer experience, you’ll want to prioritize those goals for your digital transformation, and metrics based on customer feedback will be extremely valuable to the project.
Assess Your Current Situation
You must have a clear understanding of your current landscape before transforming. If, for example, you know you want to invest in things like edge computing, the Internet of Things, and big data, you must assess the infrastructure and expertise you have in place today, so you can clearly define the steps you’ll need to take, the tools you will need to invest in, and the skill gaps you may need to cover as you move through your transformation.
Keep Expectations Realistic
There can be a real temptation to take on a massive transformation all at once, but a “bite-sized” approach is often the key to long-term success. It is important to set long-term goals, but rather than focusing all of your energy and resources on that overarching goal, it pays to set up milestones and focus on KPIs that will move you towards the finish line. Tackling smaller goals allows you to avoid roadblocks and overcome challenges much more effectively. This approach also allows you to respond to market changes quickly and adjust your long-term definition of success as needed.
Are You Ready For Your Digital Transformation?
Many companies require access to specialized skills during a digital transformation. Talon is a market leader in tech recruiting with a proven track record of helping companies control costs while improving the speed and quality of their tech hires. Contact us today to learn how our strategies can help you achieve your goals.