5 Essential Steps: Digital Transformation

The world is changing, evolving, and modernising more and more by the second. And for many businesses with traditional roots and long-standing legacies in industry, evolution is essential. Whilst historical methods may once have proven successful, it is crucial that businesses embrace change (for some traditional players that means industry 4.0) and the move towards new digital technologies if they are to continue their patterns of success. 

So what do we mean when we encourage you to go digital? Put simply, the goal of digital transformation is to implement technology suited to the needs of your business. This transition or evolution could be as simple as creating a digital management system and going paperless in your internal processes, or as advanced as automating company-wide machinery for optimum efficiency. 

Today we’re going to discuss 5 essential steps towards making digital transformation happen in your workplace. Keep reading to find out the most important factors to consider before embarking on a journey led by digital technology.

Evaluate your current position

Knowing where you’re currently at is essential when it comes to evolving your business. There are a few things you should be sure of before you start considering what moves you’re going to make in order to kickstart company-wide improvements. 

• Get to grips with your current demands and consider if they are being met with efficiency.
• Decide whether a digital revamp will ensure your company goals are being met – it will definitely make it more likely.
• Understand what kind of budget you’re working with and how much you want to move away from paper-reliant processes.

This process will be individual to every single business. Your current position will essentially dictate what changes need to be made, so make sure that your assessment is thorough. 

At Bolland & Co, we run discovery workshops for our clients to get these results. One of our most successful projects was for Hamerville Media Group, a traditional print media owner and publisher. Their current position meant changing their entire business model in order to compete in a digital market, transformed with our guidance and strategic approach. Read more about that project here. 

Identify the digital technology that will best complement your business 

Traditional businesses are often new to technology when it comes to using it to manage their internal processes. We understand it can seem daunting to completely revolutionise methods you’ve been using comfortably and successfully for many years. That’s why at Bolland & Co we encourage Digital Evolution, rather than revolution. We want your business to be equipped to adapt, which is something everyone must begin to understand when it comes to the future of your industry.

It’s crucial to look into each department and consider which technologies will work best to promote optimal efficiency and effectiveness. Once this has been carried out, you’ll be more than ready to begin the process of digital transformation.

Some examples of inefficient processes that can be solved by digital technology include:

• Internal communication
• Poor integration of systems caused by a lack of automation
• Bottlenecks caused by failure to leave behind out-dated technology

Read about why your business should go digital here.

Getting everyone on the same page

It’s important for any business that’s looking to evolve digitally to get everyone in the company on the same page with regards to any changes that might take place. 

We’ve found that particularly in traditional businesses, internal processes have often been in place for years and adjusting to new ones might take some discussion or focused development. In fact, 52% of executives site “a lack of familiarity with technology” as a barrier to digital transformation. 

By setting out a plan of action and discussing how technological changes might benefit each department, you can make everyone involved aware of how their roles might evolve for the better. You will also get their buy-in from the beginning. 

Things to consider include:

• How will your new tech change the way their role works?
• Will any roles become obsolete with new tech, and so what will their new role look like?
• How much time and cash will need to be invested in training original employees? 

A successful transition starts with empowering and educating your team. Here we detail how to have the process conversation with your staff. 

Reorganising your strengths

The process should begin with your digital strategy. It’s then important to look at how the internal arrangements within the company are structured. 

Reorganising leadership is essential in order to redistribute certain skill sets which might be better spent elsewhere; those familiar with digital technologies will be able to guide those less developed and drive progress forward. 

CFOs are a perfect example of a job role changing and evolving. Formerly occupied by analysis of past transactions, CFOs should now be a driving force for change, encouraging automation and streamlining financial functions within their business. The growth of AI and data science allows for more advanced protection from cybercrime and fraud management, as well as creating a robust financial plan for the future.

Organisation and forward planning will not only empower your team to work in new ways, but it will also make your whole strategy more efficient. Digital transformation isn’t just about implementing new technologies, it’s about putting new processes in place to match the power of those technologies for maximum impact. 

Looking into the future

The future of every industry lies with technology, from digitalisation to automation. Being prepared for constant change, progress and updates are the most valuable ways to ensure your business evolves for the better. 

One of the ways you can do this is to keep developing talent and skill within the workforce by implementing training schemes, workshops and updates to the current expertise you have at hand. 

The future of your business relies upon reimagining it – it is possible to respect the success of the past whilst embracing a modernised vision that will take you to the next level.

Get in touch today to learn more about the importance of evolving your business with the right digital strategy and approach to technology.