Join our free Lakeside Chat on Digital Transformation with Washington University in St. Louis – Thu, Nov 12th

Join our free Lakeside Chat – Thu, Nov 12th

Crafting a Digital Transformation Strategy: 4 Considerations

Developing a digital transformation strategy is not for the faint of heart. Creating a comprehensive plan requires knowing your clients’ current needs and predicting what they’ll demand in the future. Tough questions need to be addressed as to your company’s current capabilities and future goals. Deploying a successful mission entails analyzing business processes and evaluating infrastructure.

At MIT Sloan’s CIO Symposium, Jeanne Ross, principle research scientist at MIT, explained, “Digital transformation is not about technology. Digital transformation is about redefining your value proposition and to deliver that value proposition, you’ll have to redesign your companies. That is really hard.”

Is your organization’s leadership preparing for this change? Here are four factors to consider — from concept to completion — when forming a digital transformation strategy:

1.) Keep your clients top-of-mind
Does your company have a clear and defined sight as to how it will best serve clients? Do your employees have a deep understanding of how they will be able to positively impact your clients’ lives? Will your organization and employees be committed to this action each day? These are crucial questions that demand confident and clear answers. Is your company creating a plan that, upon implementation, empowers your employees to act on that vision daily? If your leadership doesn’t have a solid grasp on these concepts, your employees won’t either.

Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves. – Steve Jobs

2.) Responsiveness is key
For many companies, digital transformation centers around not only becoming more responsive to client needs but having the ability to adapt as client demands change.

Some organizations are incorporating technologies that can automate processes. The ability to efficiently scan paper documents then index the information and route to the proper repository means teams from across countries, campuses or departments can contribute information in a central place. Employees are able to collaborate and easily access needed information to quickly respond to client inquiries.

Digitally capturing and automatically processing documents ensures accuracy, repeatable outcomes and increased security for customers.  Providing customers with correct, consistent service and protecting their information cultivates opportunities to build client relationships and strengthen trust.

3.) Start with the digital “must haves”
A successful digital transformation requires a strong technical infrastructure. Know what vital technological components your organization needs for a solid operational backbone. For example, do you need to automate your Accounts Payable and Receivable departments yet have the ability to interconnect with other departments within the organization?

Systems must align with the organization’s business strategy and needs – like creating one record for a customer that contains sales, service and financial information.

4.) Build for “speed” and “integration”
As the way we conduct business interactions and transactions change, organizations are revamping their services, solutions and processes, for speed and integration. Yet in this digital economy, while watching out for security risks, these same organizations need to ensure compliance with information governance.

If you don’t innovate fast, disrupt your industry, disrupt yourself, you’ll be left behind. – John Chambers, Chief Executive Officer, Cisco

KnowledgeLake’s mission is to guide organizations through the digital transformation to foster a more productive work day. Discover how we can help you and your enterprise maximize your potential by providing you with innovative document solutions. We can help you bring your digital transformation strategy to life.

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