10 Factors That Can Drive Your ‘Digital Transformation’ Initiatives!

By Veritis

Digital Transformation Initiatives

Digital transformation is no more a word at a distance. It has become part and parcel of every individual’s life. For companies, this is the ‘demand of the day’ and ‘need of the hour’. While more than 70% of companies already have digital transformation initiatives plans, the COVID-19 pandemic is pushing them more in that direction.

The question of how to digitally convert established businesses is what matters most in the current business context rather than whether they must. Getting stakeholder buy-in, holding them accountable, overcoming organizational silos, and removing procedural barriers are typically significant obstacles to developing digital capabilities. However, teams that can collaborate effectively across business units, with transformation partners, and in a more significant partner ecosystem will succeed.

As digital transformation tools significantly transform industry after industry, many businesses are adopting large-scale change initiatives to capitalize on these trends or keep up with competitors. More than 80% of respondents in a recent McKinsey Global Survey on digital transformations said their firms had made similar efforts during the past five years. However, success in these transitions is proving to be elusive. While our earlier research found that less than one-third of organizational transformations are successful in raising a company’s performance and maintaining those gains, the most recent findings reveal that digital transformation’s success rate is significantly lower.

This is evident in the transformation taking place in four key areas, namely telecommuting, on-demand services, virtual events and Cloud.

  • Telecommuting: Workstyle in every industry is almost changing, paving the way for a remote workforce. Not just work, telecommuting is becoming the trend.
  • On-demand Services: Online delivery is the new norm, everywhere. So, it’s high time for companies to alter the way products and services are delivered.
  • Virtual Events: Companies have called off their events, business visits and in-person meets, inclining towards WebEx and other forms of digital meetings.
  • Cloud: No one can even imagine a non-cloud world, given the operations and co-working happening in the cloud space.

All these factors directly make digital transformation services more imperative than ever for companies globally. So, what are your plans for digital transformation?

What is Digital Transformation and Why is it Important?

What is Digital Transformation and Why is it Important?

The term “digital transformation” describes the strategic process of integrating digital technology into many company domains to alter its processes. The purpose of digital transformation initiatives is to boost productivity, increase agility, and change the corporate culture to one that values the technology of the digital era. This could entail adapting established departmental responsibilities to the changing demands of the market and business environment. So, just as much as integrating digital technologies, digital transformation services also involve changing the company culture, employee mindset, leadership, and business strategy.

Digital transformation services do not occur quickly. Instead, it is a journey that can take several months or even years and will alter as technology, people, and processes advance. Therefore, senior leaders and human resources must present digital transformation solutions methods and technology partners that foster employee buy-in if the digital business transformation is to gain traction.

Most of the amount spent on digital IT transformation will go into the appropriate technology, including training and an agile IT environment. Because it enables the company to connect applications more smoothly, making them faster, more dynamic, more collaborative, and more flexible to meet consumer and stakeholder demands, the cloud—whether public, private or a hybrid cloud—is crucial to modernizing your business.

Many businesses start by making investments in business technology that keeps the company online, such as CRM systems. The following steps will involve assembling the ideal talent team for digital IT transformation strategy initiatives so that staff members and business units can confidently use technology and new procedures.

Innovation and disruption are two cornerstones of the industry’s digital transformation trends. In order to implement new business models and develop and retain existing talent, businesses must be aware of how their industry is evolving and make sure they have the necessary people on hand. In addition, the corporate landscape of today is rife with disruptive forces. For these reasons, maintaining the effects of such a change typically necessitates a significant repair in thinking and behavior.

To compete better in the market, businesses might operate more quickly and in novel ways. For instance, cloud computing and mobile technologies that are backed by contemporary security software and best practices enable secure, dependable access to business applications whenever and wherever. Automation also expedites procedures and minimizes errors.

Additionally, it redirects human workers’ focus from routine, repeating jobs to higher-value tasks that machines can’t perform, which helps to improve the working environment and the experiences of both employees and customers. Finally, artificial intelligence further transforms a business by examining data sets to find issues like fraudulent conduct and then learning from that research to find new opportunities that can boost income.

Benefits of Digital Transformation

Benefits of Digital Transformation

Organizations may view digital IT transformation as “modernization” and, as a result, as a required disruption for any organization that wishes to stay competitive in today’s business environment. But enterprise digital transformation is more than just a matter of survival for your company. Instead, it’s about gaining the benefits of having the foresight to understand how digital transformation companies can positively alter all parts of your business, from staff productivity to customer experience and leadership.

The following are the principal advantages of a digital transformation journey:

1) Stay Competitive

If you wait to modernize when all of your competitors have already started their business transformation path, you risk falling behind. You might still need to utilize obsolete software and out-of-date IT infrastructure, costing you time and money while your competitors are getting leaner, making decisions faster, and optimizing their processes for optimum efficiency.

2) Geographical Boundaries Will be No Longer Exist

Businesses now have access to various new markets because of digital technologies. Today, many individuals already utilize digital communication tools for personal purposes, making it easier for us to communicate with others. Therefore, a digital transformation strategy within a company would entail using digital tools, such as communication software, the cloud, the Internet of Things, and other remote working tools, to boost workplace flexibility and the capacity to interact effectively from anywhere, at any time.

3) Increase Employee Retention

Utilizing business process automation and artificially intelligent solutions will raise employee morale by relieving staff of tedious tasks. By incorporating these technologies into your processes, you may tell your staff that you don’t want to give them time-consuming manual tasks. Instead, their time is freed up so they can concentrate on projects that highlight their value as benefits. As a result, your staff will be more effective, efficient, and satisfied as a result of the business transformation of your company.

4) Enhance User Experience

Businesses are becoming more conscious of the need to engage customers in this age of mobile devices, social networking, and social media. You may enhance your internal and external processes to become more user-centric by turning your company into a digital one that leverages technology. Customers are more likely to try a new product, recommend you to others, or spread the word about you when they feel involved in a digital transformation journey.

5) Data-Driven Decision-Making

Adopting a data management system promotes the making of informed decisions. Your digital interactions generate data that becomes a treasure of insights that will change how you provide value to your consumers. You may better understand customer expectations by using analytical tools to acquire insight into consumer behavior. This knowledge can be applied to enhance content management, digital marketing, company strategy, and business models. Making precise predictions using data analysis might help you improve your business growth strategy.

Where is the Problem?

Plans for Digital Transformation

Digital transformation is unavoidable, but the question is the success rate of digital initiatives.

According to Harvard Business Review, USD 900 million of the total USD 1.3 trillion investment on digital initiatives went in vain with goals unmet, in 2018.

Most companies are overwhelmed by the thought that digital transformation technologies that are revamping the entire digital approach and eventually failing in implementation. The core idea of digital transformation strategy is to effectively utilize technology and integrate it with core business areas to solve existing or traditional problems.

Real digital transformation consulting services are never over. It’s a continuous evolution that requires a change in organizational culture and mindset.

Digital Transformation

Thinking to get faster in Digital Transformation platform to overcome the COVID-19 crisis?

Here are 10 factors you need to consider:

Customer-oriented Approach

1. Customer-oriented Approach

This is the fundamental basis for success in digital transformation solutions, which needs a shift in mindset from product-focused to being customer-oriented. Every deliverable should be aiming for customer satisfaction and making things simpler to them.

Culture and Change

2. Culture and Change

Drive in a vision backed by a collaborative mindset and effective thought leadership. Break down the siloes and bring the change management built on cultural transformation. Align the change management efforts with modern, dynamic business environments.

Thought Leadership

3. Thought Leadership

Thought leadership should begin at the top level, and leaders should emerge even at all levels, backed by a strong vision aligned to business goals. Someone who is technically proficient, and has a broad understanding of the industry, its customers, and data science, machine learning, artificial intelligence, and the cloud. Team management, client relations, and DX plan implementation are crucial.

 Technology Decision-making

4. Technology Decision-making

This is crucial to the success of the digital transformation companies. Voices of all responsible stakeholders should be heard in making technology decisions. Review front- and back-end systems again to ensure a seamless, integrated, and native customer experience and, ultimately, a positive employee experience. Utilize technology to foster credibility and fulfill rising client expectations. Ensure your messages and content are platform-proof to prevent affecting user experiences due to algorithm changes.

 Effective Integration

5. Effective Integration

With all data systems integrated with the mainstream process, a well-streamlined data strategy makes digital transformation challenges successful.

Internal Experience

6. Internal Experience

Internal employees should act as customers in deciding the experience factor for any digital solution. Getting the right feedback helps meet the right customer expectations.

Enhanced Supply Chain

7. Enhanced Supply Chain

Digital transformation companies can make your supply chain speedy, reliable, and seamless than ever. From manufacture to fulfillment and delivery, explore the ways to digitize aspects of the supply chain.

Data Security

8. Data Security

As you adopt new processes, security is the foremost aspect that poses a severe threat to confidential organizational or user data. Here is where you need strong regulatory and privacy policies for data safety.

Service Delivery

9. Service Delivery

Change the way you deliver products and services. Bring up the product delivery mechanism backed by innovation and efficiency.


10. Personalization

Leverage the potential of digital solutions to ensure personalized product experience. Understand customer behavior with AI-like solutions and deliver the desired.

Capping it Off

Business operations and communications have been altered by technology. As a result, driving digital transformation solutions is no longer viewed as a business strategy recommended by experts but rather as a must and an unavoidable requirement for any company expecting to stay relevant and thriving in today’s intensely competitive business world. It is a solution that can aid businesses in meeting their objectives and expanding into new areas, becoming more agile, increasing productivity and profitability, and retaining and motivating their workforce.

Beyond new technologies, digital transformation technologies’ success depends on top-level executives’ support, a shift in organizational culture, and employee buy-in. These ten factors drive your digital transformation efforts, welcoming the new-age business continuity and the next wave of business delivery.

These are only a few illustrations of digital transformation strategies your business or corporation can find motivating for the digital age. If you have any additional queries, please contact Veritis, the Stevie Award winner, and we will provide you with a response tailored to your particular requirements.

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2 thoughts on “10 Factors That Can Drive Your ‘Digital Transformation’ Initiatives!

  1. Simple and also an informative blog, this blog helps me to understand the factors that can drive our digital transformation services. Keep sharing.

  2. Nice article! Thanks for sharing this informative post. Keep posting!

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