Everyone is talking about digital transformation from the boardroom to the cubicle, from small business owners to CEOs. However, before you jump on this buzzword bandwagon, it’s important to understand that digital transformation is not a fad for your business to indulge in. It’s an essential requirement for businesses to survive.
Here are five myths of digital transformation you need to know about:
1. It is Led by the Chief Digital Officer (CDO)
It’s a misconception that digital transformation is the responsibility of the CDO. A CDO is a valuable asset for organizations seeking to digitalize, but it’s important to remember that digital transformation is an initiative of the entire organization. Therefore, it’s better to have a CDO whose job is to facilitate the transformation, not to lead it.
2. It Doesn’t Involve Business Metrics
A common myth is how digital transformation doesn’t involve any business metrics. However, this couldn’t be more wrong.
Digital transformation is all about making strategic business decisions and giving a competitive advantage to your company. To do this, you need to measure your data and establish the key performance indicators (KPI) you want to be reviewed.
3. It’s Only About Digital, Not IT
Many organizations make a common mistake to believe digital transformation is only about the digital department and not their IT department. IT is responsible for preparing the business to accept digital transformation and should monitor things like apps, web, and infrastructure to ensure they are working according to the goals of the business.
Rather than just being a digital initiative, digital transformation is a cross-functional change that involves people of all business departments, including IT, Marketing, Sales, and HR.
Digital transformation is about moving your company from being analog to digital. Doing this requires everyone to collaborate and work together, making it imperative to have a digital transformation team to execute the digital strategy.
4. Digital Transformation and Digitization are the Same
Digital transformation and digitization are similar in some ways, but they are not one and the same. Digitization refers to the process of digitizing analog information (for instance, a company’s data or artifacts).
Digital transformation, on the other hand, refers to the process of changing the way your organization operates by significantly improving your digital presence and experience.
To put it simply, digitization is a precursor to your digital transformation. And, one of the most effective ways to embrace digital transformation is by digitizing your business.
5. It’s Fast
Digital transformation is not a fast process. It takes time to find the best software to help you digitalize your business, build a compelling website, execute a mobile strategy, and much more.
A good digital transformation strategy takes time to develop and implement. If you try to rush it, you could make critical mistakes that could lead you to miss the customer experience from your virtual business.
Digital transformation is a significant change in your organization. It requires months of dedicated planning and execution by your entire team. However, digital transformation doesn’t have to be hard.
By focusing on a few key elements of change, your team can successfully achieve your digital transformation goals in a shorter amount of time.
Transform your Business
Digital transformation is not a fad for businesses to indulge in; it’s a necessity for businesses looking to stay competitive. Understand the myths of digital transformation and how to overcome them with the assistance of a digital transformation leader.
Creative Business Labs is a digital consulting firm with years of experience in digital transformation. Let us help transform your business today. Connect with us!