Strategies for Digital Process Improvement and Transformational Change
With studies from McKinsey & Co, Boston Consulting Group and others showing abysmal failure rates of digital transformations – sometimes as much as 95% failure rate – the pressing question arises: why is this the case? And moreover, what can companies do to tip the odds in their favor and ensure the success of their digital transformation endeavors?
Join Kevin Craine, host of The Digital Transformation Podcast, and Tory Bjorklund, CEO of Victoria Fide, as they talk about the root issue of these digital transformation failures, identify the danger signs of a troubled implementation, and provide proven, strategic steps you can take to guide your DX initiative to successful completion.
Why Such a High Failure Rate?
In this interview, Tory talks about why there’s such a high failure rate, and how it all boils down to one thing: Lack of preparation. “They’re thinking about it with a technology-first mentality and not thinking about the people and processes, or thinking about it as changing the organization, which is really what digital transformation is all about.”
He goes on to say that IT leaders need to turn that technology-first mentality on its head and establish the organization’s strategy first, and then look at what technology is best-suited to meet those needs.
How can I identify when my project is in trouble before it’s too late, and what are some tactics I can use to avoid these issues?
Tory covers some of the common warning and danger signs of a troubled implementation, including project backlog, project thrashing, and more. When asked how to avoid these issues, he says, “A lot of it has to do with the execution of the project and best practices… It really comes down to discipline. A lot of these best practices people know, but they lack the discipline necessary to carry it out.”
Who is responsible for the digital transformation?
Although most digital transformations encompass a technological implementation, Tory made it very clear that the responsibility falls on the entire C-suite, not just the CIOs. “Digital transformation has to be an organizational initiative, not a technology initiative,” Tory asserts. It involves coordinating operations, financials, and overarching business objectives before the project can even make it down to the IT leaders in consumable, bite-sized pieces.
What do you need to prepare for future success?
Tune in to The Digital Transformation Podcast as Kevin Craine and Tory Bjorklund dive into an overview of Victoria Fide’s proven process for transformational change, and a real-world example of a company who found DX success after a failed ERP implementation. Listen to the end for 3 practical action items you can take to optimize your change readiness, and hear Tory’s answer to the critical question: What should executives be thinking about now in order to be prepared for the world in 5 years’ time?
Transformation is not easy, but it doesn’t have to be impossible. Take control of your project’s success today and schedule a free 30-minute consultation to find out how Victoria Fide can equip you for transformational success.
