5 methods that will accelerate your digital transformation
Choosing the appropriate digital transformation methodology will determine whether you make a significant loss or a profit. The following are the five methods that will accelerate your digital transformation:
- Set SMART goals: your goals must be precise, measurable, attainable, relevant to your company’s overall objective, and should be time-bound.
- Adopt the SQCDP method: if you wish to adopt this tool to accelerate digital transformation, ensure the adopted strategy/technology is safe, of good quality, cost-effective, aids quick delivery, and is easy for your employees to adapt to.
- Create and work with a transformation map: this map outlines the steps, milestones, and key initiatives required to achieve digital maturity. As a visual methodology for digital transformation benefits, it helps you to visually strategize the change in your company’s management and operation.
- Create and work with a stakeholder map: you need a stakeholder map to navigate the complicated web of multiple interests. Also, your employees will be able to help identify potential sources of resistance early in the process before going too far.
- Digitize training for your employees: digitizing training and development is a digital transformation method that ensures employees have the skills and knowledge needed to thrive in a digitally transformed environment. The qualities of this training must include skill assessment, continuous learning, tailored training, and so on.
The digital transformation process emerged over the last few years, particularly following the pandemic, as models transitioned from physical to everything digital.
To top it off, businesses have only reported positive developments since adopting this strategy, which implies that those who aren't using it risk missing the digital transformation benefits a great deal.
But more than those who are left out, everyone who has embraced the shift must likewise advance—accelerate the process.
However, you can be certain that a digital transformation methodology is already in place to help you lead a more efficient digital transformation while answering your company’s unique needs.
In this post, we'll outline 5 strategies your company might employ to accelerate digital transformation, either partially or entirely.
5 methodologies that can help accelerate digital transformation
Over 70% of small businesses worldwide are already on board with accelerating their digital transformation process, according to a 2020 release from Cisco. And this also applies to companies of bigger size. The bad news is that not all of these business leaders succeed in their endeavors.
According to IDC data, many dollars were lost when CEOs used the incorrect approach, while a few executives profited trillions using the correct methodologies. Choosing the appropriate digital transformation methodology will then determine whether you make a significant loss or a profit. That said, here are five approaches that will accelerate your digital transformation.
Note that these methodologies are guidelines rather than something to follow absolutely as they are. A digital transformation process may be implemented differently according to each company’s context, culture, etc. Therefore, this is not a recipe for all. Nonetheless, these methods are helpful in most fields and can be adopted as long as they apply.
1. SMART Goals: setting the foundation for success
Your company must establish SMART goals before beginning any endeavors because this methodology will aid in laying the groundwork.
Think about it this way: you can accelerate your car to a higher speed, but if you don't have a goal, it will not feel the same. These objectives will help your company and employees feel more purposeful and directed. It's not only goals, though. These five characteristics must be included in your goals:
Given that the digital transformation approach includes many technologies, strategies, and paths you might follow, it is crucial to have a specific purpose in it.
With a precise aim, you may instruct your employees to focus solely on defining areas that advance the objective.
The second quality of goal setting should be its ability to be measured. Metrics and key performance indicators (KPIs) should be established to track the impact of your digital transformation efforts.
These metrics can be different across the board. Your company can develop its own metrics for productivity, reduced costs, or improved customer satisfaction, depending on your goal.
Many CEOs make the mistake of setting ambitious and overly ambiguous goals. Indeed, it might be realistic, but the drive to reach the top of the charts could motivate you to set goals that will only leave you and your employees frustrated.
Goals should be realistic and attainable; hence, in digital transformation, this means carefully assessing the organization's capabilities and resources.
The digital transformation goals you set must also align with the broader objectives of your company. Then, the efforts you and your employees will invest in must lead to the success of your company’s strategic goals and mission.
Time-bound / Timely
Finally, digital transformation initiatives should have clear timelines and milestones to track progress and ensure the transformation stays on schedule.
2. The SQCDP method: streamlining processes for digital transformation
Another methodology to consider is the SQCDP method, which helps you streamline or adjust your digital transformation process.
An acronym for Safety, Quality, Cost, Delivery, and People, SQCDP is a visual management tool that makes it easier for you to understand how well-optimized your digital transformation process is from a distance (on a visual level). It is the best way to define your process, strategy, and goals to ensure your company is on the right track before ever jumping in.
This tool helps you evade mistakes and gets you on the journey to success right away. In general, it enhances the process of your company's digital transformation and daily production.
For this digital transformation methodology to be considered authentic, it must contain the following attributes;
- Safety: it is first because no matter how much you want to accelerate digital transformation, you must prioritize data security. Whatever new technologies your company might be adopting in the name of digital transformation must not compromise your company’s privacy, data security, or employee privacy.
- Quality: your company and employees must thoroughly test and validate the technologies to be adopted to ensure that they meet your standards.
- Cost: a proper SQCDP tool must also include a cost analysis to ensure cost savings and efficiency. Technologies like automation, process optimization, and eliminating redundant tasks can easily help you save costs, and only the SQCDP tool can help you see that.
- Delivery: the best way to speed up digital transformation is to shorten the time needed to meet project milestones and deadlines.
- People: according to a PwC survey, the biggest key changer for digital transformation is ‘people.’ This tool should also consist of training and templates to help your employees adopt and understand the new ways of working—and fast!
3. Transformation Map: navigating the digital landscape
After you have set the goals and streamlined the processes involved, it is time to take the step. What is the best way to do that? Transformation maps.
A transformation map visually represents your company’s digital transformation journey. The importance of this digital transformation method for your company is that it provides you with a roadmap. This roadmap outlines the steps, milestones, and key initiatives to achieve digital maturity.
Fortunately, you don’t have to create this map on your own. Visual collaborative platforms like Klaxoon offer detailed and easy-to-use transformation maps to strategize your company’s management and operation change visually.
4. Stakeholder Map: navigating the complex web of interests
As a CEO, you’d understand that the digital transformation methodology does not apply only to you and your staff. It also applies to your customers and, more generally, to all your stakeholders. Each stakeholder has their own interests, concerns, and expectations, and you’ll have to meet all of them. That’s why you’ll need a stakeholder map to navigate the complicated web of multiple interests. But there are more ways the map can accelerate your digital transformation.
How does a stakeholder map accelerate digital transformation?
The stakeholder map is created to display and detail the unique interests of all your stakeholders.
But much more than that, it allows you to understand your stakeholders’ needs, involving them in the transformation process, which can help your company build support. Remember that stakeholders who feel heard and included are more likely to actively support the changes, which can accelerate the transformation's progress.
Also, digital transformations often face resistance from various quarters. With a stakeholder map, your employees will be able to help identify potential sources of resistance early in the process before going too far.
Finally, your company can identify potential risks and challenges associated with digital transformation through a stakeholder map. By addressing these risks proactively, you can minimize disruptions and ensure a smoother transition. Before moving on to the final methodology, let’s see how to create the map.
How to create a stakeholder map
- Start by asking your employees to identify all relevant stakeholders of your company (internal and external), especially those impacted by the transformation.
- Next, gather and assess each stakeholder's interests, needs, and influence.
- Then, adopt a visual template to proactively engage positively with your stakeholders.
- After that, ensure all stakeholders align with the SMART goals set.
- Finally, continuously monitor the stakeholder landscape and adapt engagement strategies as needed.
5. Digitizing training: empowering the workforce for change
The final method that can surely accelerate your digital transformation is to quicken how long your employees can adapt to the new changes and technologies.
Digitizing training and development is a digital transformation methodology that ensures employees have the skills and knowledge to thrive in a digitally transformed environment. There are tons of tools online that can foster digital training, but you must look out for those with the following qualities:
- Skill assessment
- Digital learning platforms
- Continuous learning
- Tailored training
If you are familiar with a few of these methods, you might wonder why these methods are the ones recommended instead of other efficient methodologies. Let’s look at that.
What benefits will you get when using these methods for your digital transformation?
Your company will gain several digital transformation benefits if you use the earlier highlighted methods to accelerate digital transformation.
These methods bring better structure and alignment
Given that they have already been tested and validated in other organizational scenarios, adopting these methods will bring you better structure, avoid risks and setbacks, and also provide better company alignment.
It brings faster results
Since existing methods have proven effective and efficient, you can be certain of its streamlined approach to digital transformation, thus helping your company achieve its goals faster. These existing methods also eliminate the time you’d rather have spent brainstorming on new ideas and approaches to success.
Risks are mitigated
Digital transformation naturally involves a lot of risks. However, with these methods, you can significantly reduce the risks involved since these methodologies would have already gone through risk assessment and management tests.
They are more cost-effective
Trial and error might be great, but it is very cost demanding, not to speak of its risks. It also wastes a lot of time and resources. However, with these methods, you can save more money that you could use in other areas of your business.
These methods foster smoother and enhanced transition
These methodologies already have metrics for measurement and other strategies that have been fine-tuned over time. This clear visibility is valuable for CEOs and other C-level executives since it aids in a smoother and more impactful digital transformation.
Nonetheless, you have to watch out for what methods you choose to implement. You can also make use of various methods simultaneously for your goal because some methods better fit specific steps or parts of your company’s transformation process rather than the entire process as a whole.
Digital transformation encompasses many objectives, from improving customer experiences to optimizing internal processes or entering new markets. The best thing you can do is to implement the strategy according to your objective; hence, you might waste resources (and remember that applying every method globally can be resource-intensive).
Also, the technology you’ll adopt is closely tied to the strategy you wish to implement. Methods that seamlessly integrate with your existing tech infrastructure or cater to the chosen tech stack are more likely to succeed.
Finally, market conditions and competitive landscapes can vary significantly. Methods should be adaptable to respond to these external factors.