Digital Transformation: Beyond the Reach or Within the Reach?

Digital transformation has been talked a lot these days. Wherever you tune in, whether it is on knowledge sharing channels, or webinars or podcasts or social media platforms, digital transformation is our favorite topic. And why not! Essentially, digital transformation has drastically affected the modus operandi of many businesses in the recent decade. On top of that, the spread of the new and fledgling pandemic, Covid-19, has suddenly made companies realize how digital technologies can save their supply chains from falling off. 

Nevertheless, it is foolish to discuss the legitimacy of digital transformation in the modern era when buzzwords like ethical consumerism, big data, disruption, personalization, live streaming, chatbots, industry 4.0, actionable analytics, voice recognition, cloud computing, robotics and many more are shaping the business landscape hastily. 

So, it is established that it is a reality that can be reached. Then why do I label it as unattainable?

Well, though we talk about how digital transformation is redefining the processes, procedures, and resource allocation to deliver value, it is still utopia for many companies out there. When they think about it, they think of a complete metamorphosis of business operations, which is undoubtedly much more complicated and challenging. So, from here, we can define a few categories of organizations.

• Those who have successfully adopted digital transformation and are practicing it.
• Those who have found that their digital transformation strategy has been inefficient and are facing roadblocks.
• Those who are in the phase of transition after successful groundwork.
• Those who are thinking of starting with a few digital elements as starters.
• Finally, those who have given up before starting on observing the barriers to change.

As it can be seen that digital transformation is a reality for very few companies, and for others, it is still beyond the reach.

Why does Digital Transformation look like a Hype to many Companies?

Let’s see some primary reasons for it.

·      Companies take it as a project: If you think going digital is a one-time affair, then you need to revisit your approach. Digitization is not a project where you can allocate some resources and monitor using sophisticated tools. Instead, it is a continuous process that needs to be carried out in phases while fusing agility at every step to stay responsive and sustainable for the coming years. 

·      Companies think it is a step towards modernization: Being modern is one thing; being digital is another! You can modernize by embracing new software or launching a new product line or upgrading your workplace. Still, for getting digital, you need to revamp your supply chain, integrate people with technology, bring all stakeholders on a common platform, innovate from scratch, give up your legacy systems and let your business think intelligently. 

·      Companies think it begins with tech and ends with tech: Another issue that creates roadblocks. Transformation is a holistic process. Moreover, businesses start with people, go through people, and reach to people. So, precisely, it should be people-centric. You have to plan how advanced technologies can enhance human efficiencies and augment human decision making so that your business can deliver high-quality outcomes to your customers. You can’t roll back to previous methods if digitization doesn’t work in the first attempt. Enterprises need a progressive approach that clinches every nook and cranny of organizations. 

·      Companies think it is a new action plan that would increase revenue swiftly: You can’t expect results overnight from digital transformation. Failure is inevitable and will hit in a minor or significant way. You should be ready to learn fast and implement changes. It’s always an iterative process that works on feeds in real-time. Big brands have not become big overnight. It takes years to solidify the foundation.

·      Companies think they do not need it straightforwardly: This is where companies close their eyes as they see the digital transformation coming in their way. They seek other routes and choose to traverse as they were doing at the time of their forefathers. Considering the present scenario when the world is facing a lockdown, economies are struggling, people are forced to sit back at home, social distancing is advocated, and pollution is drastically reduced, tech is the only force that has kept everyone connected. Irrefutably, digitization is the solution. 

Manifestly, it can be easily seen that digital transformation looks beyond the reach when managed in isolation or keeping businesses insulated from external impacts. Think of it as an exercise that has to be carried out in mud while keeping yourself clean. Meaning thereby, digital transformation needs a comprehensive planning and a progressive approach. It is within reach if you understand its:

 urgency in the current context,

effect on customer experience,

impact on shareholders’ value,

contribution to sustainability,

and say in the future. 

If you appreciate digital transformation but unable to understand how to proceed or if you fall in any of the categories mentioned above, don’t upset! We can help. Katalyst Technologies is a flagbearer when it comes to tech. We extend end-to-end assistance to small, medium, and large scale enterprises in their efforts of going digital while offering customized digital solutions that can help companies to stay relevant in their respective verticals.

It’s high time to upgrade!