Most businesses have understood that they need to go through a digital transformation if they want to stay competitive. However, many companies don’t know how to get their digital activities up and running successfully.
In this post, Vitex Capital will now take you through the five most common mistakes we see with digital transformations to give you an idea of what to avoid.
The first and most important thing for digital leaders to realize is that digital transformation is a process, not a destination. Digital practices will allow the organization to streamline processes and deliver results if done right. However, they won’t change the core processes of the organization or fix loopholes beyond their scope.
Digital transformation is a long-term process, including digitization and digitalization. As a result, digital leaders have to distinguish between these definitions clearly. To create the long-term goals of digital transformation, companies need to understand how the digital transformation process works.
A major digital transformation mistake assumes that it is a one-time initiative, which will last forever. The goal of digital transformation should be to create an organization that is adaptable and eager to adopt relevant digital solutions as they become available. Leaders should foster an environment that encourages experimentation and curiosity, allowing them to stay one step ahead of the next disruptor.
As we have been mentioning, digital transformation is a process. It will take time, effort, and multiple risks before it gets to the results stage. It would be an ignorant digital transformation mistake to expect results from the day the process has started. Digital transformation is done keeping the larger picture in consideration instead of short-term wins and gains.
Digital leaders should be careful to choose digital partners and not digital vendors, as their choice will determine the success of their digital transformation process. Digital partners should not be chosen by just taking cost or past relationships into account. Instead, a full analysis of various factors should be undertaken to choose the right digital partners.