So you recognise the importance of moving to a digital platform. You’re tired of the old, incumbent processes your company is currently utilising. But you’re also probably asking a number of questions: How do I start on the digital path? Where do I begin? How do I stack up against my competitors? Which is the right area to invest?
There are a number of key steps involved in ensuring a smooth transition from the old to the new ways of working, so we’ve outlined the integral points for you and your company to follow in order for you to successfully go digital effectively.
Establish what needs to change
The first step is to consider the opportunities and threats that digital solutions present to your company. Which processes will be improved upon by digitising them? Which areas of the business will benefit from digitisation? What is the end goal of the project?
Evaluating your firm’s digital maturity is central to this. Digital maturity is based on existing capabilities and the strategic assets your company holds. These relate to your experience (if any) implementing digital initiatives and the competencies of management in charge of driving change.
For example, some businesses may already be using digital practices in certain areas and only have a gap to fill, or would like add value to certain processes, while others will be starting from scratch. So depending on your present maturity level, you can take the next steps to digital success.
Get the key stakeholders on board
To get things in motion, all levels of management must be aligned on your digital strategy, starting from the top down. This can be achieved by clearly outlining a united vision of how your company is going to execute its digital plan, both in the short and long term.
Your stakeholders need to understand why change is important, what the benefits will be, and how you are collectively going to achieve your goals. If you don’t communicate this vision of change, your team will revert to their old ways, even if they are no longer practical in the digital landscape.
Pick complementary tools
To make the digital vision a reality, management must ensure the business invests in the most appropriate areas. But going digital doesn’t have to mean millions in new IT infrastructure. It just means you have to choose a targeted digital toolkit for your business.
Businesses can achieve substantial performance advances with remarkably minor investments. We have found, for example, that eSignatures can fit into existing workflows and be implemented quickly, often within a couple of days.
Either way, think of it as a long-term strategic partnership that will supplement the areas of your business that are lacking.
Assess and refine
Once you’ve defined your metrics for a successful return on investment, whether it hard cost savings, productivity gains, error reduction or customer experience, place careful big bets. Rather than endeavouring to automate every part of a given process or product, focus on those that drive the greatest capacity consumption and give the highest return.
There’s no need to construct an illustrious digital kingdom you don’t need. Retire old platforms, deploy new digital solutions, and reinvent the way the process works so it suits your business. Then, as proficiencies advance, you can refine your strategy and refocus toward new areas of excellence.