JANUARY 14, 2021
Digital Transformation that Delivers
The world is still recovering from COVID consequences and for many the journey will be long. However, these challenges provided companies with opportunities to pivot and review traditional business models and approaches. Executives and leaders need to move strategically to stay relevant — decisions and investments they make today will define their future as never before. Here are some insights that can help make those choices easier.
Trend #1: Ongoing Digital Transformation
Even though many companies have already started to transform their course, digitalization will only increase. According to the latest Forbes insights, we can expect organizations to shift to a more development-to-operations focussed approach in 2022. This will increase the efficiency of a DevOps model and as virtualization advances, previously physical hardware will be switching over to virtual infrastructure. Ease, flexibility, and scalability of services provided — will be the main request to data storage vendors in 2022. “The reality is that the cagey storage providers are “there” already. The truth is, we’re software companies now.” — Forbes states.
To elevate the sales, win the market competition more and more companies are resorting to digital transformation services.
But what is the digital transformation in a nutshell? How to clearly define it?
First of all, it is the integration of digital technologies into all areas of business which eventually leads to pivotal changes in how the business delivers and operates. The typical digital transformation process can be divided into 6 stages. In some cases it may vary slightly. So what do these all stages comprise? Is it a trivial procedure or a complex and intricate one? To appease your appetite let’s discuss and dig deeper.
First of all, it is the integration of digital technologies into all areas of business which eventually leads to pivotal changes in how the business delivers and operates. The typical digital transformation process can be divided into 6 stages. In some cases it may vary slightly. So what do these all stages comprise? Is it a trivial procedure or a complex and intricate one? To appease your appetite let’s discuss and dig deeper.
Stage one: Think business.
Openness to changes. Processes alignment and structuring. Metrics and analytics are in place to serve for the sake of future success. Roadmap creation. A clear marketing strategy to remain competitive and succeed. First of all, we test the ground by analyzing how the business operates offline. It is pivotal.
During the 1st stage we consider various options on how current business which is processed within the organization could be transformed digitally.
At Magora we develop the plan for the transformation which then the client can discuss with the marketing agency to create the right strategy. And this is the win situation to further expand, grow and flourish.
Business can indeed take advantage of digital transformation to a great extent: for example, classic paper based reporting on supply chain, personnel safety, time logging for staff, etc. could be digitized for higher efficiency and less risk of human error.
Stage two: Present and active.
During this stage of digital transformation you should carry out the series of experiments to understand whether it works or not. Focus on specific improvement processes and touch points to enhance the effectiveness of your business during this stage.
At Magora we are focused on interviewing people involved in the process trying to understand their needs, their pains. And coming up with the solutions afterwards. We have a tailor-made approach to each client. We move on iteratively to generate feedback at early stages and factor it into further development for the most lucrative outcome.
And then carry out A/B tests to see the audience reaction and gather the feedback. Easy.
Stage three: Formalized.
It indicates the transformation which is underway. During this stage you will eventually witness the intentional experimentation of new technologies. Normally, during these stages a lot of flaws become visible, and it takes time to eliminate them to continue to run everything smoothly.
At Magora we are constantly exploring new technologies on the market and utilizing them to solve clients problems in a most efficient way (we are against reinventing the wheel, we would rather research and come up with the best solution on the market).
Stage four: Strategic.
At this stage collaboration becomes the key point, the Holy Grail of the entire process, if you want.This encompasses a broad spectrum of areas: research, work and just shared insights. Trivial things one may say. Maybe, but only joint efforts may contribute to an immaculate strategic roadmap creation.
This is mainly about the collaborative work with the client that defined the strategy. This is a key point here.
At this stage we allocate the team that is responsible for supporting the developed solution as well as processing received feedback. Depending on the feedback we can decide on the strategy for product development.
If there is high traction from the audience and a lot of feedback from users, then we focus on processing this feedback and factor it into further frequent updates that will show the audience that they are heard and the product goes live.
Stage five: Converged.
A critical stage indeed. A devoted digital transformation team is formed and enforced, and the digital transformation frameworks are shared between. It is high time for major changes and innovations. It is high time for raucous experiments. Now you can finally try something new and previously unexplored. Cloud solutions, for example.
Stage six: Innovative and adaptive.
The final stage. The technology roadmaps drive the change here. The old model is swapped and transformed into a new one. It is where you see the positive fruits of the entire transformational process, and it becomes an integral part of your business. You can rule and be a winner now.
Yes, you can’t but admit that this long process is a complex one with many roadblocks and hindrances on the way. You should deeply understand and analyze the process: the digital transformation itself should be considered as a multi-dimensional challenge and needs to be addressed from different angles. Every business comprises a lot of components. When one component is changed, it eventually leads to tremendous changes of other components. Sometimes it is hard to anticipate because none of the complexities are foreseeable. So you never know. Sometimes it is a Russain roulette.
Regardless of all the complexities it is absolutely worth a try. Digital transformation can give you the fruits for future prosperity: boosting the profits, increasing the agility, helping to improve customer experience, improving the overall productivity and bringing business to the next level.
According to the statistics, digital transformation gives you tangible business benefits by improving operational efficiency by 40 %, faster time to market by 36 % and changing customer expectations by 35 %. It indeed beckons a brighter future to you.
If you see advice from our consultant on how your business can benefit from digital transformation, visit Magora's site.
Anything on your mind? Get in touch!
Anything on your mind? Get in touch!