Innovation and Talent are the engines of Digital Transformation

Reinventing businesses in the Digital Era is a key step to competitiveness.

Digital Transformation is critical in today’s business reality — and it will continue so. It completely covers the process of adapting a company to the digital universe and it represents one of the main levers for increasing productivity and competitiveness.

Definition

Digital Transformation is the deep and dynamic transformation of business activities, processes, skills, and business models, to ensure an agile reaction to technological innovation and new opportunities.
Digital Transformation is an ongoing process of developing new skills and talent.

The main goal is to be able to move faster, through a greater awareness and predictability skill according to market changes and technological innovation, future-focused and always with an eye on value creation.

The tools to achieve this are “super agility,” innovation, customer centricity, process simplification, efficiency and the ability to induce/leverage the opportunities caused by the profound changes in our society.

Transformation leaders must improve and adapt themselves and be able to play the role of Digital Leaders, understanding that they will have a profound and determining impact on the organizations’ strategy.

Where are we?

Digital transformation is getting plenty of press lately, with industry pundits emphasizing that rebuilding business processes around digital technologies empowers organizations to keep up with competitors in an increasingly digital world.

But will your company be able to deal effectively with these digital phenomena and the speed of adaptation to which they compel?

Maybe not … We have to reinvent ourselves and consecutively, reinvent our companies!

We must (re) educate ourselves and improve our skills as leaders or managers, capable of leading Digital Transformation inside our Organizations.
We must be able to embrace specific transformation processes and their impact on current strategies, taking advantage of the opportunities created by profound social and technological changes.

The journey

Digital Transformation is a journey with multiple connected interim goals, which in the end, seek incessantly the continuous optimization of processes, sectors and the commercial ecosystem of a hyperconnected era, where building the right bridges is crucial to succeed.

A Digital Transformation strategy needs an organized and staged approach with a clear roadmap, involving all stakeholders.
This roadmap and its final goals will be in constant evolution and “mutation”. Digital Transformation is a continuous journey because it’s a natural consequence of digital innovation.

The strategy should be based on optimizing end-to-end customer experience, operational flexibility, and innovation. These are the main drivers of Digital Transformation, along with the development of new revenue sources and information value ecosystems, leading to the transformation of business models.

Digital transformation is a complex and time-consuming challenge, but the advantages for companies are numerous: it allows them to take advantage of a set of technologies to provide better service and experience to their customers, to enhance employee engagement, to simplify processes and generate new business opportunities. By investing in the right technologies, companies are leveraging their evolution and transformation.

Let’s do it? Or “don’t remind me again”?

It is time to embrace the new technologies and face this transformation. Otherwise, the most probable destination is being forgotten and probably be out of the market.

We have to “escape the Kodak moment”! (Kodak, a company with 130K employees broke down in five years due to the appearance of the digital camera — invented by one of its employees.)
Companies must not get stuck in time!

Fear??? No! Motivation!

We should look at this digital revolution, not as a survival factor, but as a growth factor. It is an opportunity to rethink, reposition, redefine — aiming at reducing costs, increasing competitiveness; Agility in processes; Revenue growth; increased productivity; Operational efficiency, etc.

Organizations should take advantage of deep social and technological changes (real-time information, mobility, cloud computing, big data, chatbots, etc.), new ways of being connected with the business world, consumers and their touch points with Brands.

Where uncertainty and change prevails, we must transform digital challenges into opportunities for growth and differentiation.

Is your company ready to embrace the challenge?

Know more about Digital Transformation here.

Nuno Mendes
(Head of Brand & Corporate Communication @ Impacting Group)