We reached the last blog post for our digital transformation series. If you haven’t read the previous blog posts, we recommend you take some time to read the two blogs that tackle the basic elements of digital transformation and a guide on measuring its success once implemented. But hey, since you’re here, let’s jump in and learn how technology development partners can help businesses with their digital transformation journey.
This might shock you but implementing digital transformation is not as easy as 1 2 3. Most of the time, you will need trustworthy experts to help lead the path to digital transformation.
WHY IS THE ROLE OF TECHNOLOGY DEVELOPMENT PARTNERS IMPORTANT FOR DIGITAL TRANSFORMATION?
Businesses and tech development partners should think out of the box because of the fast-changing innovations that can broaden the mind and give a more global view of technology and business. When people are willing to consider alternative views and ways of doing, they’ll have various solutions.
Businesses of all sizes that fail to adopt new technologies face competition from companies that do. But despite the need to adopt newer technologies, 63% of people feel that technological change is going too slow. The main reason for this seems to be the inability of new technologies to integrate with existing systems, poor training, and habit-oriented individuals. Therefore, tech development partners and CTOs must have a good understanding and deep knowledge of the technology and implementation.
Digital transformation tech leaders, like Chief Technology Officers (CTOs), provide knowledge and years of well-tested experience that companies can benefit from. They can ensure that the digital technologies and strategies of the company are aligned while making sure that risks are mitigated. Some companies offer fractional CTO and technology development partners who can add value and global expertise by working with different companies across multiple sectors. Adding an outsider’s perspective to a company brings an objective assessment and recommendation. Generally, technology development partners have been exposed to automated processes with various technologies through their proven work with many client engagements.
HOW SHOULD COMPANIES APPROACH DIGITAL TRANSFORMATION?
There are two general ways to consider and implement digital transformation: one is to approach digital transformation holistically, and another is to implement it one project at a time. Some leaders also perceive digital transformations as a combination of rethinking models bringing in design and ideation. With this mindset, digital transformation happens holistically but in small increments, following the Lean Startup Methodology. This results in fast, tolerable failures and, in turn, agile transformation. By agile, digital transformation brings out innovation conversations to develop new technologies and business processes.
Digital transformation greatly benefits entrepreneurs in their holistic approach to increasing their revenue while reducing production costs. For example, digital transformation improves the way employees work and makes the processes more efficient. Customer-centric transformation enhances customer satisfaction, creates new ways of thinking, and increases flexibility in staffing and roles. Digital transformation may also help companies optimize costs, mitigate risks through consistent processes and verifications, and streamline business processes, strategic investment, and revenue growth.
Hiring the right leaders is also essential to how companies approach digital transformation. Tackling digital transformation holistically, the right leaders should be present at all levels. Leaders should have the right professional experience, mindset, and commitment to offer initiatives to drive companies to digital transformation efforts. When people in key roles for both senior leaders and those in the transformation-specific roles are more involved in digital transformation, a transformation’s success is more likely to happen. From the research done by McKinsey, nearly 70 percent of all respondents say that their organizations’ top teams changed during the transformation, especially when new leaders are familiar with digital technologies1.
HOW CAN NUBINARY HELP?
Digital transformation is the way of the future. With the changing trends in the business world, it is becoming more and more necessary to embrace business digital transformation. But, to succeed in this ever-changing environment, you need a partner who understands your business and will help you get there. With NuBinary’s Fractional CTO services, we can assist you in bringing digital transformation to your business. We are a team of passionate professionals committed to providing solutions that align with your goals. Get in touch with NuBinary by visiting https://nubinary.com/work-with-us.
(1) McKinsey Digital, (2021). How do you measure success in digital? Five metrics for CEOs. https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/how-do-you-measure-success-in-digital-five-metrics-for-ceos