Is your organisation contemplating investing in digital transformation? Or already in the thick of it? If so, you’re not alone. By the end of this year, enterprises will have spent more than $2 trillion on digital transformation efforts.
But while 87 percent of organisations believe digital technologies will disrupt their industries, only 44 percent feel adequately prepared for that disruption. To help bridge this gap, I was honored to share Introhive’s take on how we help shepherd our customers through their digital transformation journey with Briefing Magazine this month.
Briefing is business management publication focused solely on the work of strategic operational and business services professionals at top U.K. law firms. But while the article focuses on investing in digital transformation as it relates to the legal space, the topic is applicable for businesses and organisations of all kinds, all over the world.
In fact, in today’s ever-changing technology landscape, there are a lot of challenging questions that organizations, big and small, will need to answer. Such as, are you prepared for the disruption digital and post-digital transformation will bring?
And how will you jump on the digital and post-digital bandwagon, leveraging and benefitting from all the exciting innovation technology brings to your doorstep—without getting thrown for a loop by all the change?
In the end, follow-through is what will differentiate winners from losers. You’re not just taking on a technological shift, but also all the organizational and cultural changes it triggers. And, ultimately, the goal should be to bring more value to the business.
But the stark fact is that not every company will make it through successfully. Indeed, around 75 percent of all digital transformation efforts fail.
Read on to learn what you can do to make sure your organisation is part of the successful 25 percent. And find out how you can differentiate yourself in the market after the tidal wave of transformation recedes.
Investing in digital transformation? Get your data in order ASAP
I’ve found that businesses can’t welcome a world of greater efficiency through digital transformation and artificial intelligence (AI) until they can be confident that their underlying information is accurate. And that’s where intelligent technologies, like Introhive’s CRM data automation and relationship intelligence platform come into play.
Related Reading: 6 CRM Best Practices for Improving Your Data Quality
However, intelligent technologies are just one appendage in the complex anatomy of a digital transformation effort. To truly succeed (or even survive) in this new, digital world, organisations need to learn to see, do and deliver differently.
That’s why—amidst a sea of definitions and available research—Introhive also developed a workshop-based approach to digital transformation. Our goal? To help our customer’s business leaders best prepare.
The workshop uses best practices, benchmarking and industry standards to help leaders assess their level of maturity and evaluate where they are on their digital transformation path. It also provides clear guidelines for success and identifies any capabilities they’ll need to move forward.
The workshop’s maturity models empower businesses through every step of their transformation journey, enabling business leaders to:
- Assess where they are in their transformation journey
- Plot maturity to find a journey starting point
- Reveal how their journey compares to competitors
- Assess gaps and actions
- Create both short- and long-term goals and plans
- Make impactful transformation project investments
What’s on the other side of digital transformation? More data
While a very real phenomenon, digital transformation is not going to be around forever. All revolutions end. Thus, while it’s important to learn how to navigate the journey, organisational leaders would be wise to start thinking about what happens after the dust settles.
To that end, I’ve found that new, important digital trends are fast becoming top of mind for our business leaders—things like AI, machine learning, data science and relationship-based selling. Indeed, the fifth industrial revolution is now dawning.
Related Reading: What is relationship mapping and how does it work?
In a post-transformation era, one where digital capabilities alone no longer serve as a differentiator, what will set your organisation apart?
What we’re seeing is that data, data quality and analytics will, and should be, the primary driver of strategy and for business results. Taking the clean, high-quality data your successful digital transformation has pulled (from data lakes, warehouses, CRMs, ERPs, marketing automation, etc.) and putting it to use for yourself and your customers.
A partner for your digital transformation journey—and beyond
At Introhive, we deeply understand the importance of data strategy for delivering business value. Whether your organisation is still investigating digital transformation, currently in the process of navigating change, or even looking ahead to the post-transformation world, Introhive can scale and grow with you.
To find out how our data automation and relationship intelligence platform can take your business development, sales and marketing efforts to the next level, request a demo today.