It’s the 21st century. We are inching towards the year 2020. But you may be wondering why that’s a special thing? Many organizations whether private, public or government-owned have always had a vision for the year 2020 and digital transformation is one of the main priorities. With 2020 just about eight months away, how does one engineer those digital transitions in a methodical and well-orchestrated way for products and platforms?
Even though 87% of companies believe digital will disrupt their industry, only 44% are adequately prepared for projected disruption due to digital trends. - Deloitte
But why go digital?
Even though digital transformation is one of the most commonly used jargons in the IT industry, behind all the hype, it is actually disrupting traditional processes and helping promote better business culture. In fact, it has become the focal point of activities and business models with the need for higher and improved productivity. What once included tons of paperwork, travel, communication, data entry and manual labor, is now supported by applications, software, and channels that can be digitally managed and automated.
Digital business transformation includes engineering, retooling, connecting and sustaining products and platforms. By connecting all things digital from start to finish through cloud, analytics, AI, RPA, machine learning, it can deliver memorable and outstanding product experiences.
Barriers to Digital Transformation
The path to digital transformation is on every enterprise owner’s mind when competing in the rapidly growing economy. But most often, there are some factors that hinder this crossover.
Uncertain starting points for higher ROI: Many enterprises do not always have one single owner for applications and are unaware of what the application portfolio contains, the costs and risks of migrating them to the cloud and its dependence on other solutions.
Poor knowledge on existing systems: With digital transformation the primary and highest concern, the need to get the bandwagon means building the basic application quickly while taking care of iterations and validations along the way. This breakneck speed of work can cause causes a breakout due to the lack of a structured transformation methodology.
Lack of talent: Enterprises and vendors are on a short supply of employees with the right skills that can transform applications. They require developers, software architects, user advocates, and researchers to constantly churn out migration plans for transformation.
With digital continuity being the competing factor for many organizations today, it’s important to understand what your customers want and deliver it to them in time since many depend on digital solutions for their day-to-day operations. Here are the top three drivers of digital transformation:
- Improved Customer Experience
- Increased Speed of Innovation
- Improved Time-to-Market
The best approach for engineering digital transformation: Align organizational goals with customer journey expectations. This means it is crucial to capitalize on the right opportunities for innovation while navigating through hurdles across the product lifecycle.
27% of senior executives consider digital transformation a matter of survival. While 87% of companies think that digital transformation is a competitive opportunity. - Capgemini
Will digital transformation mean getting rid of legacy systems?
Being digitally equipped and ready for the future is a need that every enterprise leader is looking for. But that doesn’t mean they can get rid of their existing infrastructure investments. In fact, Gartner predicts that 90% of the current applications can be used until 2023. But according to the Global CIO Survey by Logicalis, 44% of CIOs are certain that complex legacy systems are the main barriers to digital transformation. Therefore, IT leaders are replacing their legacy systems with modern, cloud-based systems. This process of migration involves some pretty important changes to business culture and marks the foundation of business change.
The five-tier approach to end-to-end digital engineering transformations
In this fast-paced economy, there is a higher competitive advantage for enterprises who can deliver high-value software quickly. But this demand holds high standards when it delights users as well. That’s why enterprises need to look for vendors who can assure transformation at full length who continually learn, adjust and innovate with together. The five-tier approach includes:
- Set and assess the digital mindset: Businesses must be open to embrace digital solutions and technologies in their interactions and promote it across the varied levels of the enterprise. By having an open mind about the benefits that digital technologies can bring to people, processes, and businesses, it opens a new world of opportunities.
- Provide actionable data-rich insights: Having data with no insights is meaningless. You need the right tools to analyze and interpret it. With a strong objective in place and actionable insights to back it up, it gives enterprise leaders the chance to modify or recognize newer paths to digital transformation
- Ensure interoperability and collaboration: To engineer successful digital transformation, enterprises need to invest in technologies that tie in the capabilities of engaging relationships, serve the purposes of different departments, and guarantee smooth day-to-day operations. This blend between physical and digital will define what the business strategy is based on.
- Create digital-first roadmaps across product lifecycle: Having a comprehensive and flexible roadmap that highlights digital initiatives is the key to achieving an enterprise’s goal. By aligning it to the product lifecycle, it provides a blueprint for action and enables stakeholders to adapt and redesign the outcome that negotiates risks and delivers ROI.
- Drive memorable experiences across touch points: In the current era, digital transformation isn’t restricted to only one mode of communication. With customers having access to a ton of new mediums, it is crucial to address all touchpoints with the same objective – to deliver superior experiences.
Will digital transformation ever stop?
It won’t. It isn’t a discrete project that can be shelved after successful completion. Digital transformation is a journey and not a destination. It involves the delivery of value to both the enterprise and customer in modern ways. But the demand for it will keep changing based on expectations. So buckle up and get on the train of transformation before it leaves you behind.
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