10 Jun Four key factors to turn your company into a digital leader
In the Fourth Industrial Revolution, companies have the opportunity to digitally transform and gain the customers trust to increase their business volume. Transforming quickly and continuously can mean the difference between success and failure. Addressing the transformation with intelligence gives companies the opportunity to transform the organizational culture and become a market leader.
According to a study by Right Management entitled ‘From C-Suite to Digital Suite: How to Lead Through Digital Transformation“, 47% of CEOs have started digital transformation, while 89% of business leaders are planning, testing and implementing digital initiatives. If your company is in the process of transformation, you may find this advice very useful.
Vision, strategy, leadership and customer centricity
This is about defining the scope of transformation: Digital transformation can cover many different areas. It may involve designing new business models, digitizing new management processes, offering new products and services to digital customers, or even all of these modernizations at the same time.
According to our approach, you will need a strategy, tools, specialized digital profiles and specific technology partners depending on the road map you define.
SMART Objectives: Once the scope of innovation and the strategy has been defined, the digital business transformation must have specific, measurable, achievable, relevant objectives and be developed within a certain period of time.
Leadership and digital mindset: Digital transformation cannot be regarded solely as a project for the company’s CIO. Technology has evolved from being a facilitator to becoming a key tool to improve economic results through innovation. Thus, senior management must be involved, and the project must have its own budget and resources. A digital team with the right skills, talent and experience is vital to develop the initiative. The digital leader must guide the transformation and develop a culture of innovation and constant improvement, facilitating an integrated and coordinated project execution.
Customer at the center: Listen, listen and listen again to your customers. The business goal must be to anticipate customer needs and offer them the full range of products and services to make their lives easier. The more information you have about your current and potential customers, the easier it will be to satisfy their needs. In the digital age, where data is king, it is easy to have a lot of information, but it is necessary to analyze and exploit this information to extract business intelligence for well informed decision making and to guide business strategy.
To quote Didier Bonnet, Digital Transformation expert at Capgemini, “The only wrong move for executives, in terms of digital transformation, would be not making any move“.