Nowadays digital transformation is in its highest pick. It becomes very much essential for all companies, may it be short or big, related to digital and IT or non-digital, irrespective of all companies are embracing this digital transformation to survive in the competition and to meet their highest goals. Adaptation of the new qualities is the great quality of human beings and in this way; we are progressing with the changing of times. Digital transformation is using digital technologies to improve a company’s productivity and to fulfil customer’s expectations. There are so many big companies who are implementing these digital technologies and rise to their highest pick. The new start-up businesses are started with digital technologies. The old non-digital businesses are also implementing digital transformation to transform them into digital ones. This article is about the technologies which the companies are using to facilitate digital transformations.
What is the comprehensive process of measuring the return on investment on digital transformation?
The digital transformation will always require the organisations to save a lot of time and money which is the main reason that they need to indulge in proper measurement of the things so that return on investment can be given a great boost. For this purpose, a comprehensive procedure has to be followed and the steps are mentioned as follows:
- It is very important to set the goals in the very first stage and for this purpose, the organisations must be very much clear about the measurement of success and meaning of success in their terms so that they can find out the most ideal outcome.
- It is very vital to find out the establishment of the key performance indicators and for this purpose, they need to measure and monitor the metrics on which they will be focusing throughout the process. In this concept, the organisations also need to pay proper attention to the metrics that will help in telling out the story of the digital transformation and what is the level of key performance indicator growth which they are going to achieve in the whole process.
- Monitoring the progress will be directly linked with different kinds of reports which the organisations will be utilising so that they can keep an eye on the key performance indicator along with the progress of transformation and for this purpose they need to be clear about how often they will be running the reports and will be adjusting the strategies.
- Experiences: These will be referring to the consumer and employee experience so that success can be ensured in the long run and a positive experience for the people can be easily insured.
- People: Culture is the top driver as well as a barrier of the digital transformation which is the main reason that people must never neglect it and it is very much important to accelerate the transformation in the whole process so that human experience can be improved.
- Changes: Transformations can never happen without any kind of change which is the main reason that organisations need to address the changing colour by borrowing from the proven change management models so that best practices can be easily implemented and there is a high level of encouragement of the communication of the expectations to establish clear goals. This particular pillar will also help in tying back to the people pillar and will ensure success in the long run.
- Innovation: This is considered to be a sudden spike of creativity that will help in creating something new and will further make sure that digital transformation will be easily ensured by encouraging business organisations to find the most creative solutions to the problems.
- Leadership: If the individuals are not leading then the whole process is of no use which is the main reason that indulging in the right kind of digital transformation initiative is very much important to establish key performance indicators and guide the team towards the successful transformation.
- Culture: Business culture is considered to be one of the most important aspects of the digital transformation which is the main reason that organisations need to pay proper attention to this point as well so that they can indulge in the implementation of the right kind of approaches throughout the process.
Hence, the organisations also need to be clear about the concept of monitoring the success in the whole process because technology utilised in the whole process will help in achieving the goals and will ensure that digital transformation will be successful in terms of transforming the existing enterprise through proper planning and monitoring procedures.