By Infotek Consulting LLC, a Deltek Premiere Partner.
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Digital Transformation is frequently cited to justify investments in technology. Yet for most companies, benefits accrued have lagged the promised results.
Rare is a company that reports having truly transformed the way they do business. Rarer still are reports of breakthrough new products or services.
Most success stories come from new companies, not established companies. This begs the question, can established companies benefit from Digital Transformation? If yes, how?
To have the best chance of transforming their companies and positioning them to take full advantage of digital technologies, executives should examine the impact of technology on strategic and operational dimensions within their company, industry, and in the broader economy.
The current business environment demands ruthless efficiency and effectiveness, compressed time to market, and frequently completely new business models. At the same time, good talent is hard to find and retain. To stay ahead of competition, executives should:
- Take a hard look at how mobile technologies, machine learning, and Artificial Intelligence are changing their industry – customer acquisition and engagement, supply chain, product/service delivery platforms, and customer support.
- Study adjacent industries for clues about how a startup might disrupt their industry.
- See how their solution can complement digital initiatives their customers are undertaking.
- Create a culture of innovation by encouraging new business ideas from employees and rewarding them.
Using technology to enhance strategy execution has been a long-held goal. While big strides have been made over the decades, data and process silos still exist in most companies. Many processes rely on paper and have not been digitized to their full potential.
To successfully deliver on an organization’s strategic goals and improve operational efficiency and effectiveness, companies should:
- Review their business processes to look for opportunities to digitize them.
- Gather data from business processes to measure efficiency and effectiveness.
- Breakdown information silos by integrating line of business systems for executive decision making and operational reporting.
- Track progress towards strategic goals by developing and reporting key metrics; the metrics should include leading indicators to provide time for course correction.
Business Application software (ERP and/or best of breed software), mobile apps, data analysis and visualization tools, machine learning algorithms, AI tools, virtual and mixed reality products, systems integration tools, and workflow automation software.
- Define what digital transformation means to your company.
- Develop a digital transformation strategy.
- Execute a digital transformation strategy.
- Measure success and tweak strategy as needed.
For further details about taking advantage of Digital Transformation opportunities, visit Infotek Consulting LLC, to assess your current digital transformation efforts, help you define your digital transformation strategic and operational plans, and implement them.. Infotek can help build your capability to develop and execute plans or be your trusted partner.
This article is courtesy of our premiere partner, Infotek Consulting, LLC. To learn more about their ITAR hosting and DCAA compliant ERP solutions click here.
About the Author
Infotek Consulting LLC., is a system integrator specializing in functional and technical services, software/interface development, database consolidation, system conversion services, secure and dedicated hosting and NIST audit and readiness services. As a Deltek® partner we deliver unique, cost effective, simplified, and high performance solutions for your organization, with our primary goal to reduce your time spent on maintaining your back office related products.
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