‘Digital Transformation’, like many other buzzwords, has garnered its fair share of criticism and skepticism over the last decade; rightfully driven by a reported success rate of less than 30%. However, with our collective lessons learned, and accelerating access to the necessary technology, and capability; the opportunity to turn this around has never been riper. Mission Intelligence exists to help businesses take full advantage of this opportunity.
Periodic transformation phases are crucial to the long-term success of any business. Market disruptions, new (or improved) competition, radical changes in technology, regulatory updates, or other significant changes to your business will require you to rethink the fundamentals of your systems and processes. Embracing necessary transformational changes will eliminate the buildup of ‘fat’ in your operations, enable you to continue to meet the expectations of your stakeholders, and to lead movements in the market rather than being left behind.
Digital Transformation is the discipline of fundamentally rethinking your operating model to embrace and adopt cutting-edge digital technologies. During our transition through the fourth industrial revolution, a successful digital transformation positions data and automation at the core which enables you to optimise the inner workings of your business, enable teams to work on high-value activities, and facilitate effective decision-making.
If businesses undergoing a digital transformation do not understand why transformation is necessary, the reality of how complex and difficult it can be, or the technologies, tools, and capabilities required; they will likely fall within the 70% of businesses who have not seen a satisfying return on their investment. There are several counterproductive mindsets to be addressed before the transformation phase begins:
New technologies and tools should only be implemented at an enterprise level where they fit in with the broader strategy and objectives of the business. Some leaders are drawn towards ‘the next big thing’ because they either want to look innovative or are following the crowd, without actually understanding the ‘why’ or ‘how’ of using new technologies. This mindset sets digital transformations up to fail.
Only transformation ambitions that have a solid operational case for change, and make sense in terms of return on investment, should be pursued through to implementation.
A recent report by McKinsey emphasises the importance of the mindset shift required from leadership, and organisation-wide, for a digital transformation (or any transformation) to be effective. If your key decision-makers are not willing to adapt their ways of working to new digital systems and processes, your business will not see the full benefits of transformation.
Foresight is also crucial; a recent global TCS survey of 1,200 senior executives reported that the number one mistake businesses are making is taking too long to start and expecting results too fast. A transformation will be more successful if you are motivated to begin the process when the market starts to shift, rather than rushing to transform once you have been left behind.
Digital transformation is about enhancing and augmenting - not replacing - human capabilities. Well-implemented data analytics and automation tools will help people become more efficient, eliminate mundane or repetitive activities, and instead spend their time on higher-value tasks. Upskilling your staff is crucial for ensuring that they can make effective use of the new technologies available to them.
The key to delivering successful digital transformation lies in taking a structured approach. This can be achieved by breaking the exercise down into achievable and manageable sprints, while ensuring you take everyone along for the ride through targeted and genuine consultation.
We have curated our methodology based on the principles of design thinking, agile delivery, change theory, and investment decision-making. The objective is to effectively and efficiently integrate data analytics and automation alongside your people, processes, and systems.
First, we help companies align their digital transformation to business outcomes and goals. This means establishing a clear vision for the exercise and identifying the opportunities where digital transformation will make the most impact
Then, rather than trying to upheave the whole business at once, we sequentially solve interdependent and specific business problems by carefully assessing how to embed digital technologies within the business.
Executing this methodology involves unrelenting attention to detail, deep understanding of where and how we are adding value, coordinating a diverse set of talents, and focusing on upskilling the people who are impacted the most to ensure sustainable benefits are generated over the long term.
We’re committed to partnering with organisations who are ready to invest in their future. We help our clients embrace both the immediate benefits of digital transformation as well as what it takes to realise them throughout the entire business life cycle.
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Are you ready to invest in data analytics and automation technology? As your strategic partner, we can fundamentally rethink and redesign how your business creates, manages and protects value.
Contact us today to get started on your digital transformation journey.
March 10, 2023
James Martin
Solving complex business problems with digital technology
