Digital transformation is, in fact, a business transformation. Traditional business transformations were slightly different, but in the modern world, companies transform themselves by going digital. Digital transformation is transversal, and it can affect different businesses that operate in different industries.
Understanding the process of digital transformation is vital for all organizations which seek to differentiate themselves and increase their competitiveness in a global market, regardless of their size.
Digital transformation impacts all industries in a different way. Every business can now go through a digital transformation to combat industry-specific challenges.
The time to take the first step
The digital transformation is a great challenge and requires time, preparation, organization, a program of actions and a monitoring plan developed by qualified professionals.
In addition, turning innovation into one of the axes of a company's culture is not a one-time thing or something temporary: continuous learning is one of its bases and implies constant reviewing and long-term evolution.
All companies must take the first step at some point, and it seems that the right time is now.
And, although the effort is noteworthy, the benefits that we can get form it are numerous: the digital tools and platforms drive innovation, improve production, optimize the experience of users and customers and, ultimately, help companies in the lookout for new business opportunities.
But what if my company is the first in its industry to adopt this change?
What challenges will my business face if we are the first company to adopt the new tools to achieve digital transformation?
What are the advantages of being a pioneer in digital transformation in an industry?
Basically, being a leader in digital transformation gives competitive advantages over other companies in the sector. And that applies to pretty much all sectors.
The leader in digital transformation has a chance to adopt new work models before everyone else, improve access time to digital platforms and apply tools that will help manage new markets.
And it’s not just that.
In addition to technology, a change of this caliber requires establishing a strategy with measurable objectives and appropriate top-down communication.
Because, although there are common elements, each company must deal with digital transformation individually.
Before starting the process, companies that want to lead the digital transformation in their sector should ask themselves the following questions:
What is my business?
Who are my clients?
Where is my market?
What are the needs of my company?
How could technology help me to meet them?
What kind of consequences will technological transformation have?
Will it cause disruptions for our competition or for us?
How will we react in each of the two possible cases?
What can we offer that makes us unique?
How do we differentiate from our competitors?
What we can and what we cannot offer to our customers?
By answering all of the questions stated above, you can have a clearer understanding of the situation and, above all, what your company’s long-term potential is.
Afterward, you must be able to identify the phases of digital transformation and how they will affect the organization and its industry. Without it, you can’t start the change.
Here the CIOs (Chief Information Officer), as well as other professionals responsible for the development of technological strategies in a company, i.e. the leaders in the area of digital transformation play a key role.
Chief Information Officer (CIO): professional “agents of change”
The CIO's job is to distinguish which technologies are good for each business model so that the digital transformation can be carried out successfully.
One of its main objectives is to achieve a balance between innovation and technological investment, in order to optimize and increase the turnover.
To achieve said balance, complete the following three steps:
1. Manage the pace of technological acceleration. Not all companies incorporate innovation at the same pace. One of the objectives of the CIO is for the organization to take measures of caution when implementing digital transformation.
There should be no pressure to achieve short-term results. On the other hand, the company should not become less competitive during the process.
2. Employ the necessary tools to facilitate change. The Chief Information Officer should be familiar with the business sector in full which enables them to understand what the company can offer its customers and what are the most advanced digital trends at an industry level.
3. Digitize the processes. One of the greatest challenges that a CIO professional faces is the implementation of a program, paired with actions to digitize the production, management and communication processes of the company. This also involves digitally collecting, archiving and contrasting data and using it to improve the organization's processes.
4. In order to meet these objectives, the Chief Information Officer must have certain attitudes and knowledge, including:
Planning and organization
Core knowledge of IT
Knowledge of the business
Capacity for change management
Ability to manage projects and teams
Digital transformation is an ambitious and demanding process that requires advice from and work of trained professionals. CIOs have the knowledge to propose and implement technological innovations that contribute to the growth of the company and achieve better results and are the key to a company being a pioneer in this innovative process in any business sector.
Besides the CIO, it’s very important to find the right partner who will accompany you on the digital transformation journey. Software development companies are very important partners, especially from a strategic point of view. In our previous article, we gave some tips on how to choose the right software development company.
Iborn.net can help companies meet the evolving expectations of consumers and employees. Combining our commitment to innovation with our software development expertise and agility, we strive to accelerate our clients’ competitive positions so they can thrive in the digital world.