Amplify business value through digital transformation

With Forbes estimating the average failure rate of digital transformation to be 84% [1], it’s clear to see that the majority of organizations are failing to unlock the full potential business value of digital transformation efforts. While various factors can contribute to the failure of a transformation initiative, many organizations tend to only focus on implementing the correct technologies, systems or processes while neglecting organizational issues that can significantly impact the overall success of the initiative.

To increase the likelihood of success, organizations need to take a more holistic approach to change by developing a strategic plan, in alignment with your business goals, that better prepares your entire organization for change.

Defining strategic goals

It’s important to define your strategic goals prior to launching any transformation initiative as it provides a clear road map, aligns organizational efforts and ensures that technology initiatives are purposefully directed towards achieving specific objectives, enhancing the likelihood of achieving a successful and sustainable transformation. The following outlines key steps to help you get started:

1. Frame your vision

Regardless of where you sit in the organization, it's essential to understand what strategies are currently driving business decisions and then align the vision for the transformation to support those objectives. Your people will be more likely to support a change when the organizational vision is clearly connected to the benefits of the change or the potential risks if you don’t change.

2. Lead with focus and intention