As we move from a technology focused to a service defined world, digital transformation is becoming a top priority for business leaders. The power of what technology can really do is being seen and embraced by people who, before now, never considered themselves technologists. To stay competitive, companies must stop experimenting with digital and commit to transforming themselves into full digital businesses. What do organisations that have successfully made this transition have in common?
Drawing from our own experiences helping customers to become digitally enabled, we have identified eight traits that successful digital enterprises share:
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They are willing to transform
They share a willingness to transform themselves through digital innovation and continual digital development, and they often embrace CXO-level ownership of their digital future by adding new, top-level positions such as a Chief Digital Officer.
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They are customer centric
A healthy obsession with improving the customer experience is the foundation of any digital transformation. A mindset focused on the end-to-end customer experience permeates the company. They have processes that enable them to capture and learn from every customer interaction – positive or negative – which help them to regularly test assumptions about how customers are using digital and constantly fine-tune the experience.
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They are data driven
Digitally driven organisations recognise the power, value and potential of their digital data; they recognise the need to create new forms of digital data and they are working to identify ways to exploit and monetise what already exists.
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They are financially savvy
Most organisations focus their digital investments on customer-facing solutions without realising they can extract just as much value, if not more, from investing in back office functions that drive operational efficiencies. Digital transformation is more than just finding new revenue streams; it’s also about creating value by reducing the costs of doing business.
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They are redefining work
Organisations that truly embrace a digital future believe that governments, organisations and other institutions need to transform where and how people work, learn and live into digitally enabled places and virtual spaces.
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They are aware of the dangers
A digital future necessarily comes with some risk; organisations committed to a digital future understand the importance of addressing the security threats associated with their digital transformation.
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They are preparing their infrastructures
To take advantage of all that a digital enterprise – and a digital world – have to offer, organisations have to be willing to invest in digital-ready infrastructures that will accelerate their digital strategies and the digital experiences of their customers, employees, or citizens.
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They know what ‘fast’ means
Organisations that are really ready for the advantages of a digital future know that status quo just won’t do; they accept that they need a transformed IT function that can operate and serve their business at ‘the speed of digital’. Rapid decision-making is critical in a dynamic digital environment.
Digital transformation is uniquely challenging, touching every function and business unit while also demanding the rapid development of new skills and investments that are very different from business as usual. To succeed, business leaders need to move beyond vague statements of intent and focus on hard wiring digital into their organisation’s structures, processes, systems, and incentives. Digital transformation can be a complex task that requires a structured approach, but with the right governance framework and culture, it can succeed in any organisation.
At Logicalis, we call the digitally driven organisation the Service Defined Enterprise. Download our complimentary white paper to learn more.
