Myths are the manifestation of human assumptions without any valid evidence, sometimes they are right but most often they are wrong. In the world of technology, myths could create undesired impact and in the business world, it will assure the downfall of an organization, especially when you carry digital transformation myths.
Leaders and decision-makers should not take decisions with assumption especially if the technology is involved in the process. Such a decision would lead an organization to a future that was not intended.
Whether today we talk about B2C or B2B businesses all of them are focused to utilize new technological capabilities and modern organization culture to reap rewards. During this process, leaders take many valid and necessary decisions but sometimes the opinion they have is just a myth that has been formed over the years.
They are not necessarily wrong but some myths have to be busted as it could lead to catastrophic results not only for the organization but for the whole business community.
In this blog, we are going to bust a few digital transformation myths. Here are the Myths:
1. Only C-suite executives are required for Digital Transformation
It’s usually assumed that Digital transformation is the responsibility of CEO, CIO, and CDO of an organization but that’s not the case as it’s the responsibility of every individual in the organization and it’s one of the common digital transformation myths.
Digital transformation enables change management and helps to streamline your business processes. When such an important initiative is initiated which could impact every individual in the organization should not be just taken by the C-suite executive as that could lead to failure.
The organizations must involve all the stakeholders ranging from CEO, CIO, CDO, Mid-level managers, and other executives.
Set the expectations upfront for each job function and ask for their opinion as they are going to be affected by it in one way or the other.
2. Making an Organization Digitized is Digital Transformation
Adopting a technology or Digitizing a certain business process is not Digital Transformation. There is a big difference between Digitization and Digital Transformation. These types of digital transformation myths have to be busted at any cost.
Digitization is all about making a certain application or process automated, fast and efficient to get reliable data that usually enable to cut costs. The value proposition here is operational effectiveness.
While Digital Transformation has a customer-centric and employee-centric value proposition. Digital Transformation enables cultural change and business transformation by using technology as a medium to attain it.
The main benefit of doing is that it makes employee efficient, enhances the customer experience, improves the business process and add value at each stage.
Digital transformation ensures the complete revamp of the business as it’s all about people and companies culture while Digitization is just about enhancements in the existing processes via the digital medium.
3. Digital Transformation is Once in a While Thing
Most organizations have this digital transformation myth that Digital transformation is a one-time thing but they are far from the truth.
You can’t just roll it out and forget about it. Digital transformation goes through regular updates and transition in patches post complete roll out because of the technological advancements and also because of some deviation in goals.
All these factors make it a continuous process rather than a one-time thing. If the organization does not update it regularly then they are at risk of failing their Digital transformation initiative and would make it even more difficult to initiate any such project in the future.
The organizations that often update their current Digital transformation infrastructure, see constant growth in their revenue.
4. Digital Transformation will Create Immediate Impact
Post execution of Digital transformation doesn’t expect that it will reap rewards overnight. Such transformation takes time to show results because of complications in the process, technology, and people. Digital transformation myths like these would make you lose confidence in the process.
Post the execution phase the adoption phase begins and it takes some time to get used to the newly implemented system. Most of the implemented application also goes through some major update in the later stage.
Patience is the key here as factors like this delay the impact that an organization expects out of such implementations.
5. Digital Transformation is a Financial Burden
More than the budget, Digital transformation requires a roadmap and clear planning. Further, it can be executed in a phase-wise manner as per the convenience of the organization to manage finances.
Organizations can assign responsibility in a phase-wise manner and allocate the finances from the department’s budget that would get most affected in that particular phase.
It’s all about managing resources with proper planning in an efficient way.
Considering it as a financial burden is nothing but a digital transformation myth which if believed could result in catastrophic results.
6. Digital Transformation will Bring Reforms on its Own
One of the biggest digital transformation myths is that organizations expect their employees to be experts post a few sessions of training.
Employees are key to digital transformation, if they are unable to adopt the implemented applications then the whole initiative could get impacted negatively.
It’s important for the organization to make Digital adoption as a part of its initiative. Digital adoption will ensure that your digital transformation initiative is not wasted.
Many tools in the market help attain efficient Digital adoption. Online training, LXP and DAP (Digital Adoption Platform) are a few such category of tools that helps your employees get familiar with the new software product, adopt it quickly and ensure better ROI.
Digital adoption could take time but it should be executed on time to ensure your investment pays off. To speed up this process tools like Digital adoption platforms must be implemented as it guides the user from one step to another by understanding their requirement and need.
Leaders must overcome these digital transformation myths to reap maximum benefit. Myths and rumors are part and parcel of business, only the correct information will act as a vaccine against such a virus.
The future of businesses looks better as we are currently under the technological boom and people today are open to change. A time like this must be leveraged to improve your business and gain maximum benefit from it.