The ongoing global COVID19 pandemic has accelerated digital transformation. Many businesses are shifting their communication preferences to online e-commerce. To move forward, it would be best practice for businesses to assess their digital transformation. If you ask yourself some questions about digital transformation strategy, a plan can be put in place.
These questions can consider all aspects of the business, including admin, IT, marketing and sales. A strategy, which outlines all transformation factors, can consist of a plan with as much detail as possible, including an estimate on the timeframe for the changes.
Here, we outline some of the questions you should ask yourself for your business in accordance with your digital transformation strategy.
1. Is the Existing Digital Transformation Still Relevant?
The pandemic has led to changes in business models, making it impossible for the existing digital platform to remain relevant in the long run. Thus, businesses have to evaluate their current technology to ensure its sustainability over time. No business wants to invest in technology that has become obsolete due to technology disruptions or business models.
2. Is the Proposed Digital Transformation Strategy Holistic?
The disruptions caused by the COVID19 pandemic compelled many organizations to adopt random acts of digital solutions aimed at solving the existing problems. However, businesses need to strategize on the best transformation strategies that will be relevant in the future.
3. Does the Digital Transformation Strategy Align with the Business Priorities?
Many organizations focus on technology without evaluating how their IT strategy is enabling growth in the business objective. This ensures that the technology is a value centre rather than a cost centre.
4. What Could the Drawbacks Include?
If the current digital approach is ineffective, the existing strategies might in fact be the current drawback. Businesses need to assess their existing strategies and establish where their IT metrics need to be adjusted, in order to keep up with the rapid pace of digital acceleration.
5. What is the Agility of the Current Approach?
When businesses are implementing IT strategies, they need to evaluate the agility of their strategies and the ability to adapt to technology changes caused by the disruptions. Adaptability is essential in the current business environment.
6. Are the Right Factors being Considered?
The ability to track the value and progress of digital initiatives is essential for growth and success, whether that’s looking at reducing operational costs, access to new markets, increased revenues, or customer retention rates. Before deciding the right factors to consider, businesses need to ask how they can track the value of the existing initiative.
7. How Much Technical Debt Can Be Eliminated?
Technical debt tends to be costly, increases risk exposure, and prevents greater transformation. This is a vital question for businesses since the working capital is expected to be limited in the next 18 months. Thus, IT leaders should evaluate the liabilities within their ongoing digital framework.
8. What is the Effect of Transformation and Key Data?
Transformation is expected to deliver enormous returns. IT leaders are required to clarify the possible effects of transformation. IT leaders must clarify the essential data assets and their contribution to the success of the transformation.
9. Who should be Involved in the Digital Transformation Strategy?
IT leaders must ensure that other employees in the organizations are briefed on the milestones of their strategies so that they can use them to influence the overall performance.
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