Digital transformation should be at the forefront of every business’s organizational strategy, and is defined as “the adoption of digital technology to transform services or businesses, through replacing non-digital or manual processes with digital processes or replacing older digital technology with newer digital technology”. However, this easily digested definition is not so simply implemented in the workplace. There are challenges to be overcome before the benefits of digital transformation can be realized by an organization.
Accenture, Deloitte, and McKinsey collectively have over half a million employees and have been at the forefront of digital transformation from both research and execution perspectives. They also have collectively harnessed the power of digital transformation to stay at the forefront of their industries.
Below are three summaries of their experiences in digital transformation related to people, processes and technologies.
Accenture makes it clear that successful digital transformation is based strongly on strategy and having methods set on how you will transition the business.
‘You can also almost guarantee a warning that unless a strategy is in place, digitally savvy competitors will devour you and your industry’
Furthermore, it’s vital that important leaders in the organization support and understand the processes of digitally transforming their organization. It’s most certainly not something that happens overnight and takes a large sum of investment.
‘Never underestimate the buy-in you need from the end-user and the leaders in an organization’
Jane Simpson Chief Engineer Network Rail
Accenture conducted a discussion group with organization leaders who have digitally transformed their organizations and these were the key themes that constantly came up during the discussion.
“A journey of a thousand miles begins with a single step.”
Deloitte sets out 4 key pillars that drive businesses to successful digital transformation and the benefits that come with it.
The benefits an organization can expect once transformed are as follows.
McKinsey’s article presents 21 factors that improve the chances of success of a digital transformation initiative, broken down into 5 categories, according to a McKinsey Global Survey on digital transformations.
While all this seems daunting; the good news is most organizations are already digitally transforming because the environments around them are already in motion. For example, the way products and services are delivered through the cloud virtually. The silver lining of working remotely is that it has driven many of these transformations.
Quote-to-cash and price-to-quote are not isolated silos in digital transformation, they are deeply integrated with other processes to achieve optimal outcomes, e.g. process improvements. All of our customers have moved from manual, non-digital systems processes such as time-consuming spreadsheets and manual data entry to digitally enhanced environments as part of their journey for optimization.
Here are some links which provide the story of how some of our customers have gone from manual to having a specialized system in place and the benefits that came with this transformation:
Dell: https://servicepath.co/wp-content/uploads/2020/11/Dell-servicePath-Case-Study.pdf
Daisy: https://servicepath.co/wp-content/uploads/2020/11/Daisy-servicePath-case-study.pdf
Telent: https://servicepath.co/wp-content/uploads/2020/11/Telent-servicePath-case-study.pdf
Click here to learn more about CPQ and what it can do for your business.
Source:
https://www.accenture.com/gb-en/blogs/blogs-making-big-bets-digital
https://www2.deloitte.com/content/dam/Deloitte/ie/Documents/Technology/IE_C_HC_infographic.pdf