Your Digital Transformation Has a 70 Percent Chance of Failing. To Beat the Odds, Try These Three Things
by Staff Writer
Digital transformation is touted as a leading force driving IT and business decisions. Despite the hype, it’s not delivering on the promise. In spite of surging investments, fewer than one-third of digital transformations succeed at improving a company’s performance, according to McKinsey & Company.
Yet the effective employment of digital strategies drives key benefits and across business lines, from improved productivity that fuels innovation to better business insights – but only if you approach digital transformation the right way.
It’s not the underlying technology that accounts for the poor performance of so many digital transformation projects. Rather, a lack of organizational readiness is a frequent culprit, including underestimating or not understanding the work and resources required, and factors such as poor data governance and executive cohesion.
Here are three key ways to beat the odds and achieve digital transformation success.
by Ignacio Martinez
Today’s organizations face a new work paradigm. Workers can collaborate and communicate easier than ever before, thanks to the rise of enterprise collaboration apps. These apps can also provide unprecedented access to and shareability of data.
At the same time, these collaboration advances leave information technology (IT) and other business leaders facing increased scrutiny around data security and privacy. This, in turn, increases the focus on ensuring compliance and reducing the risks around regulatory issues.
To manage these competing forces, IT and business leaders find themselves performing a delicate balancing act: maintaining compliance and security standards, while ensuring the business is nimble enough to move forward quickly.
Writers and Bloggers from Smartsheet.