{"id":9375,"date":"2022-06-08T21:13:31","date_gmt":"2022-06-08T17:13:31","guid":{"rendered":"https:\/\/krisp.ai\/blog\/?p=9375"},"modified":"2022-07-06T17:17:05","modified_gmt":"2022-07-06T13:17:05","slug":"digital-transformation-strategy","status":"publish","type":"post","link":"https:\/\/krisp.ai\/blog\/digital-transformation-strategy\/","title":{"rendered":"9 Key Steps to Digital Transformation Strategy That You Cannot Ignore"},"content":{"rendered":"

If you could ask the <\/span>70% of companies that fail at digital transformation<\/span><\/a> what went wrong, you\u2019d get a myriad of answers. But based on our research, we can make an educated guess about at least some of the crucial actions they missed that ultimately led to them falling short of goals.\u00a0<\/span><\/p>\n

What are the steps to digital transformation that you just can\u2019t skip over? Let\u2019s find out below.<\/span><\/p>\n

9 Steps to Digital Transformation Every Business Would Benefit From<\/span><\/h2>\n

1. Understand what digital transformation <\/span>really <\/span><\/i>means<\/span><\/h3>\n

You don\u2019t want to build a strategy atop a poorly defined or misunderstood idea of <\/span>digital transformation<\/span><\/a>. It can be a buzzword that loses meaning the more it\u2019s thrown around, so let\u2019s establish a clear definition before we dive into the next steps.<\/span><\/p>\n

Here\u2019s an excellent definition of digital transformation from <\/span>Yokogawa<\/span><\/a>: \u201cthe novel use of digital technology to accelerate business strategy. It is about the application of digital technologies to empower people, optimize processes, and automate systems in the organization to radically reorient its business performance.\u201d<\/span><\/p>\n

Do not confuse digital transformation with the act of digitalization. To understand the difference, let\u2019s look at <\/span>Adobe\u2019s major transformation<\/span><\/a> from selling one-time software licenses to creating the Creative Cloud and selling monthly subscriptions to its software. The <\/span>digitalization<\/span><\/i> part was its use of cloud technology. The digital <\/span>transformation<\/span><\/i> occurred when the company leveraged the cloud to completely change its business model and <\/span>boost its profits<\/span><\/a>.<\/span><\/p>\n

So as you undertake the steps to digital transformation, keep in mind that it\u2019s so much more than installing new software or automating a single process.<\/span><\/p>\n

2. Assess<\/span><\/h3>\n

Once you have a firm grasp of what digital transformation is, it\u2019s time to take stock of your current situation. It\u2019s a good idea to reference any business plans you have, as this can be a way to measure whether you\u2019re meeting those goals and whether you\u2019ve outgrown those plans.<\/span><\/p>\n

This is a fantastic time to begin listening sessions or focus groups with your customers, employees, and leadership team to gain a holistic view of the organization.<\/span><\/p>\n

Questions to ask:<\/span><\/p>\n

    \n
  1. In what situations do we feel under-resourced?\u00a0<\/span><\/li>\n
  2. In what situations do we thrive?<\/span><\/li>\n
  3. What achievements are we proud of, and what did we learn from those achievements?<\/span><\/li>\n
  4. When have we failed, and what did we learn from those failures?<\/span><\/li>\n
  5. Do we currently have any digital strategy in place?<\/span><\/li>\n
  6. How can technology improve our processes, productivity, and performance?\u00a0<\/span><\/li>\n
  7. What are our current success metrics? Note things like revenue, profit, year-over-year growth, sales, etc.<\/span><\/li>\n<\/ol>\n

    Be sure to document these answers and store them in a centralized place. Consider measuring and tracking your metrics in a KPI or business metrics software. You\u2019ll want to revisit this data throughout your digital transformation journey.<\/span><\/p>\n

    3. Define the goals and a vision<\/span><\/h3>\n

    Goals are objectives with measurable outcomes. A vision is an overall view of what your world will look like should your organization achieve digital transformation. Both are crucial to tracking your progress and staying motivated throughout the journey.<\/span><\/p>\n

    To define your goals, revisit the answers you uncovered in the previous step. You can also allow each team to brainstorm their own departmental goals they\u2019d like to add. Eventually, you\u2019ll need to narrow down and solidify the goals you\u2019ll want to make a part of the official digital strategy roadmap. You can institute a voting system or leave it up to your leadership team to make the call.<\/span><\/p>\n

    To come to an agreement on a clear vision, ask your team:<\/span><\/p>\n

      \n
    1. When we achieve digital transformation, how will the employee experience look and feel?<\/span><\/li>\n
    2. When we achieve digital transformation, how will the <\/span>customer experience<\/span><\/a> look and feel?<\/span><\/li>\n
    3. When we achieve digital transformation, how will our business operate in new ways?<\/span><\/li>\n<\/ol>\n

      4. Create a digital strategy roadmap<\/span><\/h3>\n

      Using the goals and vision you landed on in the previous step, build out your digital strategy roadmap. This takes it one step further by detailing:<\/span><\/p>\n