Digital Transformation has been a trend for several years. Looking back on 2020, it’s clear that making investments in it was essential for survival. As we think about it, recent events like the pandemic pushed the evolution of how we think about and execute digital transformation initiatives.
Nearly half of respondents (47 percent) to a 2020 KPMG and Harvey Nash CIO survey say the pandemic has permanently accelerated digital transformation and the adoption of emergent technologies.1 While the acceleration is unavoidable, the fundamental goals of digital transformation mostly remain the same:
Now we must ask ourselves: How will digital transformation propel growth and competitive advantage for businesses of the future?
The answer to this question begins with an understanding that digital transformation is a business decision.
What does this mean?
In the past, digital transformation posed a challenge. Today, however, digital transformation-as-a-service makes this possible for businesses of all sizes.
Digital transformation-as-a-service is built to address long-term business needs because it delivers without the larger overhead costs of onsite hardware or expertise.
We can think about it in this scenario:
IT is asked to help simplify information sharing between finance and HR, as it has become more challenging post-pandemic with work being done in more places than ever before, for example, managing work-from home expenses from employees.
How do they go about solving this problem?
Historically, there are a few ways the problem would be addressed:
The problem is, such decisions often result in overspending and under-utilization. Why? The people who would use it are not consulted.
Making decisions about IT that takes more than technology into consideration are proven to be more effective long-term. This is often referenced as business-managed IT.
According to the 2020 KPMG and Harvey Nash CIO survey cited earlier, business-managed IT is helping organizations make the right decisions.
How? This approach incorporates the needs of the people who will be experiencing them. It also takes into consideration business and end customer needs, two crucial points that could easily not be represented on a technology-centric checklist.
Additionally, subscription packages will likely grow in popularity with digital transformation-as-a-service. The reason is simple. Digital transformation-as-a-service enables scalability.
As organizations research which digital services offer the most value to their internal and external users, scalability and flexibility become more important.
Information is moving faster than ever before and that is not changing anytime soon. With CIOs clamoring for more digital services, the time for digital transformation-as-a-service is now.
At a minimum, we’ve learned that no digital transformation project is not a “one and done” effort.
The beauty of digital transformation projects, especially those related to process automation, is that there’s always room for adjustments and evolution. And with the flexibility of digital transformation-as-a-service, the ongoing changes don't require a new investment each time. We must embrace that reality and leverage it to our advantage.
Try these tips:
According to Management Review at Berkeley, new opportunities will arise from digital transformation-as-a-service. To maximize those opportunities, they recommend:4
It’s important to realize that we’re in the midst of a new era where tech investments are approached differently, combining both technology and services. Gone are the days of implementing technologies as patches. The new wave of technology investments must be determined by keeping user and customer experience top of mind.
Propelling growth and broadening competitive advantages are organizational priorities. With digital transformation-as-a-service and a mindset that prioritizes a focus on incorporating people-benefits alongside technology capabilities, routes to such growth can be plentiful, and will ultimately improve both your customer and user experiences.