By Michael Rivera, PhD
The COVID-19 pandemic caused a massive acceleration in digital transformation (DT). The event distorted the day-to-day activities of people and organizations. The global-wide lockdowns forced companies to use technology to run operations and keep up with the demands of consumers.
Digital transformation became a buzzword. And almost every company with a sizable budget wanted to implement cutting-edge technologies to stay ahead of the curve. It helped many! However, just like every trend, some jumped on it without adequately assessing the potential downsides of the sudden tech transition.
To thrive in this super-competitive, fast-changing business world, you must improve your services, products, and operations with best-of-breed technology solutions. Transforming your business with digital solutions is the way to go. However, how you go about it determines your results. When implemented wrongly, your bottom line can be significantly impacted.
The big question is, how do we adopt digital transformation without running into troubles in the long run? Keep reading!
5 Digital Transformation Mistakes to Avert
Whether you’re already transforming your business with high-end digital solutions or you’re planning to embark on a digital transformation journey, there are some mistakes you need to avoid. Getting things right from the onset will enable you to make the most of your budget.
1. Following the Digital Transformation Bandwagon Blindly
Why do you want to transform your organization with technology? What are your long-term goals? Do you want to do it because every other company around you is doing it?
Those are some critical questions you must ask yourself and your stakeholders. Many invest in digital transformation because their competitors are doing it. Don’t hop on the trend just to blend! Have a purpose and design a transformation journey that suits your long-term business goals.
2. Lack of Long-Term Strategy
The benefits of digital transformation come to light when you integrate it with your long-term business goals. You risk wasting resources when you fail to plan properly. For instance, businesses that implemented solutions for the remote work models without considering their long-term needs may end up building things they won’t need in the post-pandemic world. Before you start a DT strategy, ensure it resonates with your core business goals. Don’t invest in expensive technologies you won’t need after a year or two.
3. Following Trends and Bypassing Data-driven Insights
Some businesses digitize without considering data. Successful companies rely on data-driven decisions – not on trends only. To implement DT properly, you must base your solutions on insights extracted from data. No matter how fancy a technology is, implement it only when reliable data shows your business model can benefit from it.
4. Ignoring Customer Requirements
Many companies get carried away by new technologies and fail to make customer-centric decisions. At the end of the day, your revenue comes from your customers. Considering the needs of real people helps you satisfy everyone – employees and customers.
5. Inadequate Tech Skills & Budget
Lack of contemporary tech skills and financial capacity causes the digital transformation journey to fail. To avoid running into trouble or wasting a huge sum of money, ensure you have a reasonable budget and can provide the technical expertise needed.
You can avoid digital transformation mistakes by working with a third-party company. This enables you to get the changes you want without running into trouble. That being said, you can rely on Thinaer for your Digital Transformation needs. Thinaer, a leading digital solutions provider, has a team of PhDs, technologists, artists, data scientists, and business strategists. They help World’s leading companies digitize reliably and cost-effectively.