Five Starting Points Towards
a Successful and Simplified
The emergence of new technologies means the world we live in is constantly changing. The internet, social networks and blockchain methodologies have brought many benefits to those who have confidently and successfully adopted these technologies.
For this reason, bleeding-edge technologies are attracting ever more attention: artificial intelligence, machine learning, 5G, and the Internet of Things, signal great potential for those who are rising to the challenge of incorporating them into their business thinking at an early stage.
However, we know that new technologies may initially seem complicated and even somewhat daunting, so here we set out five starting points to help begin a digital transformation.
1. Think BIG
Peter T. Grauer, chairman of Bloomberg, once said that deploying technology is an absolute necessity, and that we have to reinvent ourselves all the time. So think what innovations can your company introduce? Imagine how your company and your brand can look in the future and how it can take advantage of technological advancement. How will your brand be represented and what values it will include. Imagine your brand as a leading company, and key employees as leaders.
This way you will be able to see the strategic path of digital transformation and the goals you are trying to achieve. Talk to your associates about this path, and see how the technological process can have an effect on improving the products and services you offer.
2. Identify human talent
Consider that in highly complex jobs—those that are information- and interaction-intensive, such as managers, software developers and project managers—high performers are an astounding 800 percent more productive than average performers.
McKinesy and Company, 2018
Identify the strongest elements of your company. Who among your employees and associates has the potential to work on innovations? Many companies have employees who work well on projects that require a bit more technical knowledge and are eager to work on an innovation project. Additionally, emerging technologies create new generations of jobs, and some of them require special combinations of high technology skillsets. This leads us to point three.
3. Benefit from data
IBM research show that 80% of data collected by companies is unstructured, meaning that businesses can neither read it nor use it. That’s why today’s profession roles such as data scientists, data engineers and chief data officers are becoming more and more necessary for the successful collection and use of data. Rather than hiring internally, smart tools and outside experts can jumpstart the efficiency and forecasting benefits of big data.
4. Use smart tools
Business processes require constant optimization and simplification to remain competitive. Think about elements that need to be reinforced? Are there any holes in operation? Look for easy to implement technological solutions, which will help you to enter the digitalization process.
Trailblazer such as Amazon Web Services, suppliers of scalable cloud technologies, and Scopeworker, providers of supply-chain uberization solutions, integrate seamlessly into business workflows while realizing immediate and long-lasting returns on investment.
In an era of smart service-oriented technology, you can choose configurable solutions which fit snugly around your company and solve the problems you’ve been coping with.
5. Start the journey
Unless company leaders keep this vision of horizontal end-to-end integrated processes firmly in mind and build the appropriate capabilities as they modernize their operations, their transformation efforts will fall short, says Roddy Martin, Oracle’s vice president of product marketing for supply chain.
Digital transformation involves ongoing technological adaption and cultural shifts rather than one-off fixes. You can have a tandem set of actions that help achieve some short-term milestones while creating or developing the necessary platforms that will help scale-up your company. Use smart tools and start simple. These processes take time with those first to cross the chasm rewarded with the most opportunities to create competitive advantages.
Written by Iva Danilovic