Not all business forecasts are black and white, but the future of digital transformation is. If you need any final assurance that the industry is ready to fully embrace digital transformation as the way forward, just follow the money. A recent study by IDC forecasts that spending on digital technologies will reach an estimated $1.3 trillion this year, and will nearly double to $2.1 trillion by 2021.
As leaders wrap their arms around digital transformation and its implications on their budgets and bottom lines, it is important to remember there is no one-size-fits-all application or solution to reach digital maturity. Because technology is always evolving, so too will your company’s digital maturity. We tell our clients all the time that they are “never transformed, always transforming.”
It’s also important to note that true digital transformation requires more than simply applying various technologies within your organization. You have to have clearly defined goals and roadmaps outlining how digital tools will enable organizational efficiency and agility. And, as you map this, understand that “transformation” is the core of the concept. This is where all too many organizations fall into the common trap.
In my latest Forbes column, “Successful Digital Transformation Starts with These Steps,” I break down four core areas to incorporate into your digital transformation framework to avoid the common pitfalls. I also share several elements that need to play a starring role in your planning process, why it’s vital to evaluate your tech stack in advance and the reason a winning digital transformation strategy goes hand-in-hand with streamlined operations.
Read the article here.