Major transformation processes usually go from the inside out and follow similar phases: first, people and company culture, processes, technology and channels.
Why should companies undergo digital transformation?
Even though it is a complicated process, if we have usa numbers list been clear about the steps to follow for a long time, why does it not end up working for many companies?
And a more basic question, have we considered why we want to make this transformation?
The basic answer for the vast majority of companies is purely commercial or communication with their clients. If my potential clients and customers are on the Internet, my company must also be there in order to offer them the best service. We all have, or should have, this clear.
But the processes of digital transformation or digital evolution, as I like to call them, must go much further.
What competitive advantages can we gain by taking advantage of the benefits offered by the Internet/digital? In this constant struggle to differentiate ourselves from the competition , the Internet (understood from a global point of view) is a great source of innovation.
Throughout this process of change, COVID has accelerated digital transformation exponentially , and this is once again generating a lot of noise in this regard, due to the great need for many companies to adapt.
In this context, BCG has conducted research to define which factors are most important for a digital transformation process to be successful.
Keys to the success of the digital transformation process in companies
Many companies are currently reviewing their transformation plans (according to the BCG survey, 80% of companies are planning to accelerate the process), and in their quest to adapt as quickly as possible, they are going to encounter a harsh reality.
70% of digital transformation processes fail
70% of digital transformation processes fail - BCG
According to BGC, the six factors that lead to the success of a transformation are ( nothing new with respect to what we have been talking about for some time ):
Beyond the fact that the factors may be more or less novel, what has caught my attention is that, according to the study, the key to success is to correctly execute the six factors .
It may seem obvious, but we often see projects that are lacking from the start. They focus on a few areas and the rest are left for later or simply ignored.
The probability of success increases with the number of factors correctly planned and executed.Probabilities of success in the digital transformation process - BCGThis conclusion, together with the initial data that 70% of digital transformation processes fail, tells us about the main cause of failure: companies do not take digital transformation projects seriously .
My impression has always been that companies perceive such complexity in these processes that they become a project that they must undertake but for which they never find the right time. And when they do, they do not do so with full commitment, nor with the necessary resources.
So we are faced with a dilemma. What kind of companies have the right mindset and sufficient commitment to undertake these projects with any chance of success? Has it become an option only for a select few?
There is no short or easy answer. In my opinion, as much as the key is to execute the six factors correctly, few companies are prepared to take on projects of such magnitude. So we must find a way to phase it (extend it over time and assume that we will not be able to respond to all the digital needs of the post-Covid company in the short term), so that companies are able to assimilate them.