Sustainable Transformation is Beyond digital
Contrary to popular belief, digital transformation is not just about technologies. Behind the execution of a successful digital transformation initiative, there is a laser-focused objective-based strategy that decides the course, direction, and pace of change. Leading companies in the Nordic region have been successful at cracking this code – the perfect mix of strategy and digital – for a long time now. The fact that Denmark ranks at the top in the list of most digitally literate populations in the world is testament to the digital maturity of the region. What this means is adopting a structured approach to digital transformation, which begins with digitization and ends with comprehensive transformation.
Be it for improving core proposition – products and services – or streamlining processes, or creating new revenue, Nordic organizations are cultivating a strong economy of strategy-led change. However, during this journey, roadblocks do present for some businesses in this region, notably, a lack of the right skillset and mindset. While expanding customer base is the number-one priority, the same attention needs to be directed towards the workforce as well.
Hacking the Secret to Digital
To orchestrate a successful and sustainable digital transformation initiative, organizations must begin with an introspection of what their long-term and short-term goals are. The decision to focus on customer-centricity is largely practical and each item on the transformation agenda must align with this objective. Secondly, achieving high levels of customer-centricity, inevitably demands a paradigm shift in the ways of working, and this involves a revamp of both internal and external processes. Armed with this knowledge, businesses can then retrofit the right technological entity and allow its full play in helping them achieve their goals.
Embracing an Inclusive Digital Transformation Agenda
Once believed to be under the purview of the CTO or CIO, and by extension, the accountability of the IT teams, digital transformation is no longer perceived as a dissociated target. It must be viewed as part of a broader picture, covering all grounds of the business, starting from everyday operations and revenue generation to product development and post-sale servicing. An inclusive and collaborative ecosystem, with feedback loops, frequent townhall meets, and KPI tracking, are some of the tried-and-tested techniques that can help businesses attain better results.
Structured Change Management: Prioritizing People
It is crucial for the modernization roadmap to include practices that enable an organization’s workforce embrace and contribute to change. With newer frameworks, processes, and tools in play, employees need to be encouraged to upskill and cross-skill; this in turn will facilitate amplified innovation. Orchestrating relevant webinars, reinforcing engagement, and reinstating trust among the workforce will pave the way for employees to become part of a growing tribe.
Driving with Digital Versus Driven by Digital
Like any good thing, digital technologies come with their fair share of ‘shiny-new-toy’ syndrome, as organizations often make a beeline for the latest trend or digital tool. Instead, they should take their time in understanding why they need a particular technology and in what way will it propel their journey realistically. Adopting a phased approach – where a pilot project for a single business function is tested, its results measured, and the process fine-tuned – will ensure an incrementally stable digitalization journey.
Taking Notes from Success
The Nordic region stands out with its blockchain-enabled supply chains, autonomous ships, and smart grid already having seen the daylight. While this still represents a narrow slice of a broader picture, forward-thinking organizations must warm up to the idea of a pragmatic approach to digital transformation. At Tech Mahindra, we believe in helping such organizations navigate through this with a guided strategy on how to get digital transformation right and enable sustained benefits.
