BUSINESS TRANSITION- A VOYAGE FROM MANUAL TO DIGITAL
By Aurangzeb Soharwardi
There is an intense debate and speedy process of businesses to adopt latest technology and digital processes for growth and sustainability for this digital transformation is going around .Digital transformation is the integration of digital technology into all areas of a business, fundamentally changing how you operate and deliver value to customers. Even there are companies which do not understand or consider it less important for their businesses , but there are also Companies which go for the process of digital transformation only and do not contemplate the other important area linked with it and that is cultural change which requires organizations to continually challenge the status quo, experiment, and get comfortable with failure. It also envisages the importance of changing mindset of employees to get compatible and at comfort with the digital processes and use of latest technology. Digital transformation is imperative for all businesses, from the small to the enterprise.A business may take on digital transformation for several reasons. But by far, the most likely reason is that they have to: It’s a survival issue. In the wake of the pandemic, an organization’s ability to adapt quickly to supply chain disruptions, time to market pressures, and rapidly changing customer expectations has become critical. And spending priorities reflect this reality. Before embarking upon the voyage of digital transformation it should be absolutely clear that what sort of digital up gradation is needed, how much is needed, where it is needed and how to integrate in the over all business.According to the May, 2020 International Data Corporation (IDC) Worldwide Digital Transformation Spending Guide, spending on the digital transformation (DX) of business practices, products, and organizations continues “at a solid pace despite the challenges presented by the COVID-19 pandemic.” IDC forecasts that global spending on DX technologies and services will grow 10.4 percent in 2020 to $1.3 trillion. That compares to 17.9 percent growth in 2019, “but remains one of the few bright spots in a year characterized by dramatic reductions in overall technology spending,” IDC notes. At a recent MIT Sloan CIO Symposium series event, IT leaders agreed that consumer behavior has quickly shifted in many ways since the start of the pandemic. Sandy Pent land, a professor at the MIT Media Lab, described how optimized automated systems in areas like supply chain management broke down when faced with rapid shifts in both demand and supply a reality that just about everyone has faced on a personal level during the pandemic. As Dion Hinch cliffe, VP and principal analyst at Constellation Research, writes: “The top IT executives in today’s rapidly evolving organizations must match the pace of change, fall behind, or lead the pack. That’s the existential issue at stake in today’s digitally-infused times, where bold action must be actively supported by out-of-the-box experimentation and path finding. This must be done while managing the inexorable daily drumbeat of operational issues, service delivery, and the distracting vagaries of the unpredictable, such as a major cyber attack or information breach.”Improving customer experience has become a crucial goal – and thus a crucial part of digital transformation. Hinch cliffe calls seamless customer experience “the most important discriminating factor for how a business will perform.” digital transformation elements are often cited as Customer experience, Operational agility, Culture and leadership ,Workforce ennoblement ,Digital technology integration. An important element of digital transformation is, of course, technology. But often, it’s more about shedding outdated processes and legacy technology than it is about adopting new tech. It’s also about enabling innovation.
In the area of government IT, for example, more government agencies are on the verge of realizing the cloud model’s full potential – beyond cost-cutting to using cloud for strategic advantage, notes Dave Egts, chief technologist, North America Public Sector, Red Hat. “Deloitte recently released a list of nine technology trends transforming government, and one, in particular, will be key to enabling the future of technology in government: The cloud as an innovation driver,” Egts says. If businesses want to evolve with the rapid pace of digital change today, they must work to increase efficiency with technology wherever possible. For many, that means adopting agile principles across the business. Automation technologies also help many IT organizations gain speed and reduce technical debt. As Enter prizers’ Stephanie Over by has reported, “Ongoing digital transformation across industries became a given in 2019. At the same time, digital transformation fatigue also became very real.” It’s a good time to ask yourself if your team is getting tired or less engaged. The new trends have also emerged and 2020 was a year of some reckoning for digital initiatives. Organizations that continue to underestimate the need for culture change do so at their own peril.the rapid scaling of digital initiatives across industries,” says Steve Hall, partner and president of global technology research and advisory firm ISG. “In many areas, CIOs and organizations have prepped their organizations for change but haven’t made the full leap to transforming their culture to fully embrace the change.”Eight key digital transformation trends that business and IT leaders saw in 2020:Rapid adoption of digital operating models, including integrated cross-functional teams, A shakeout as those that have invested in big data governance and analytics leapfrog their competitors, Better use of AI and machine learning, Continued merger and acquisition activity in the IT outsourcing industry, Consultancies forming new digital partnerships, Expanding public cloud adoption, New digital transformation success metrics, More attention to long-term value of digital initiatives . So there is a dire need that the businesses must switch gears from manual to digital but they should also contemplate that The most important factors for successful digital transformation are The cultural and mindset change, Customized use of technology, Prioritization of segments to be digital, Integration of all business functions and systems for which Enterprise Resource Planning system is a useful example but again with customized features. Human resource Management Technology and analytics , Production technology , Marketing promotion tools, Financial analytics , Security systems and so on and so forth , the use of digital tools and other technology can bring more efficiency , effectiveness, decision making precision and smoothness in all business functions , leading to more high standard ways of doing business.