Navigating the trials and tribulations of modern technology has never been easy, which is why a staggering 84% of companies are failing at digital transformation. In an age when customers demand instant gratification and information security is facing constant threats from cybercriminals, it’s never been more important for organizations to innovate.
Today, you’ll be hard-pressed to find an enterprise that isn’t on some sort of digital transformation journey as they figure out how to leverage technologies like artificial intelligence and cloud computing. Unfortunately, most are in danger of failing that transformation.
What does digital transformation even mean?
Digital transformation is a buzzword that’s so overused that it’s become meaningless to many people. Given the general lack of consensus on what it actually means, it’s no surprise that a lot of companies are failing at digital transformation.
In a nutshell, digital transformation refers to a broad strategy of implementing digital technologies to solve business problems. It has a fundamental impact on the way businesses operate and the way they deliver value to customers. It doesn’t refer to any specific technologies; it’s more about driving a culture of change whereby employees and customers alike are empowered to succeed with modern technology. A major part of achieving that is overcoming resistance to change.
One example of how we are transforming is that in a traditional sense our job is to make sure our clients are not frustrated with computer problems. But what if we could take that further by showing our clients how they can improve their business by increasing efficiency and employee productivity? That is why we introduced IT dashboards that show our clients ways they can better their business. This is one way we are transforming our services and showing our clients how technology can help them do more with what they already have.
Read more about the client dashboards: Capstone Dashboards
Weighing the risks and opportunities
Every technology can introduce both risk and opportunity. Traditionalists are often afraid of using new technologies like cloud platforms and mobile devices due to concerns that they will increase a company’s exposure to cyberattacks. Information security has long been considered a major blocker of innovation, but things are changing fast as security is becoming an integral part of every new technology deployment.
There’s no denying that new technologies present risks, but so do old ones! Particularly hardware and software that is no longer supported by developers or vendors. That’s not to say that criminals aren’t targeting modern systems, just that you need to stay two steps ahead on all fronts.
Related article: New technologies that will drive digital transformation
Aligning technology with business priorities
There’s probably never been a more hyped-up industry than information technology. Everyone talks about innovation and chasing the latest shiny new tech, and vendors are jumping on the bandwagon to sell the latest “solutions” to those who are easily seduced by anything that’s shiny and new. But that’s not what digital transformation is all about.
What you should be focused on is aligning modern technologies with specific business needs, not deploying them just because that’s what everyone else is doing. Companies must reconcile their digital strategies with their operational goals and the unique needs of their customers. Anything else will only lead to ending up in a worse situation than when you started.
Overcoming the talent deficit
Selecting, implementing, and maintaining modern technologies requires new talent, which is increasingly hard to come by. With nearly 3 million global positions in cybersecurity alone standing empty, businesses across all industry sectors face a crippling talent deficit in which demand far outstrips supply.
Related article: Hiring strategies you’ll wish you’d learned years ago
It’s not only cybersecurity either – digital transformation requires specialized software engineers trained in current programming languages, product managers who have a thorough understanding of today’s markets, and developers who are deeply familiar with modern user experiences. This massive talent gap is one of the reasons why many companies are now looking to outsource their digital transformation initiatives to dependable third-party consultancy firms and managed services providers.