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Are We Digitizing Fast Enough? Agile Planning for Change Management

 

For a few years now, digital transformation or digitizing has been a buzzword and a paradigm. However, the focus and purpose of digital transformation endeavors within each enterprise have shifted over time.

Even companies that have embarked on multi-year transformational journeys have had to make mid-course adjustments, which is normal. Resilience is the operative word that defines the goal of digital transformation in 2022. The pandemic taught businesses to be ready for market dynamics and consumer needs to shift dramatically. Tomorrow-thinking businesses will place a premium on their ability to pivot and deal with change with minimal to no negative impact on internal and external customers.

For many businesses, successful digital transformation will be the difference between success and failure in the coming era.

Analyze, Strategize, and Digitize

Today, there is a lot of debate about the shape of the economic recovery: whether it would be V-shaped, W-shaped, L-shaped – or something else entirely. However, those debates overlook the critical significance of the historical juncture in which we find ourselves. The reality is that the composition of the post-pandemic economy will be dramatically different, regardless of the shape of the economic recovery.

Moving Forward what matters is not the shape of the recovery, but the type of economic picture that emerges afterward.

Why are some companies doing better than others – and why are some doing better than before the Global Pandemic? One of the key indicators of the ongoing transition is that companies that have successfully implemented digital transformation and platform-based business models, or those that have been able to quickly adapt to digitalization have Thrived. Companies that do not adhere to the change and transform digitally will be left behind and eventually go out of business.

Many companies and industries were able to leverage digitalization and digital transformation to come out on top, even though they lost out due to COVID-19-induced challenges.

Future of Digital Transformation

Integrating sustainability into digital transformation efforts will become increasingly important as it becomes more central to business strategy.

Digitization is more than a carbon footprint-free promise but a holistic transformation of business through digital technologies that create a better impact on society and build a purpose-led organization. This will have an impact on how businesses build the core competencies and build ecosystem platforms to drive innovation and internal transformation to align with this much-needed agenda.

The benefits of digital transformation go beyond meeting customer demands; it also allows for more remote work and lowers costs. Companies can use digital transformation as a cost-effective tool by moving to distributed workforce solutions, reducing physical customer interactions, and moving to a managed services model.

Customers have already migrated to digital for many businesses. Employees are already working completely remotely and are somewhat agile. Analytics and artificial intelligence (AI) initiatives have already been implemented by some businesses. IT teams have already delivered at a never-before-seen rate. However, for most businesses, the changes that have occurred thus far are only the first stage of the changes that will be required.

Digitization isn’t the only issue. Customers’ journeys must also be reimagined to reduce friction, accelerate the shift to digital channels, and meet new security & safety requirements.

Data and data management would be Critical. Harnessing enterprise data and evaluating stakeholder expectations to understand where the business is at stake and where the business needs to act to become more sustainable is one of the biggest data technology trends to watch in the coming year.

Firms are evolving to prioritize the cloud in the coming year as they understand that the cloud is more about innovation than cost savings. Businesses should initiate by determining their desired business outcome and then concentrate on how to restructure, reimagine, and reengineer their overall portfolio in order to achieve a long-term competitive advantage. “The cloud becomes the enabler, the delivery engine that enables this.”

We will see workflow automation extend across businesses by 2022 and beyond. This would enable HR teams to schedule interviews and update candidate profiles swiftly and more efficiently. The finance department would be able to automatically update payment records and customer success teams will be better equipped to respond to customer needs quickly and efficiently.

Cybersecurity concerns have risen to the forefront of digital transformation due to the increased complexity of cloud and distributed architecture, as well as the rise of ransomware. Enterprises are under increasing pressure to provide secure access to all users, applications, and devices.

Security continues to be a growing need, something that is no longer taken for granted, but rather a business imperative. All-new design requirements must include transactions and intellectual property. The first major transformation is to make security a shared responsibility rather than something that is solely the responsibility of a dedicated team. The second step is to improve security operations to increase prevention and resilience.

The most important quality organizations are seeking in employees is a desire to learn and the ability to continue learning. Companies that are built to learn and adapt quickly will succeed and Thrive.

“It is not the strongest of the species that survives, nor the most intelligent; it is the one most adaptable to change.” – Charles Darwin.

Key Insights For Business and Business Leaders – Go Digital or Go Dark

  • Change Management – Adapt & Change before you have to
  • Knowing Your Client is not Enough, Know the Technology too
  • Continuous Learning – Learn, Unlearn, Relearn
  • Make Employee Experience the Foundation of Talent Strategy
  • Security at the Cornerstone of Speed & Growth
  • Investing in Cloud to Go Higher 
  • Data is the New Currency – Focus More on Quality and Less on Quantity 
  • Seek a Sustainable rather than a Profitable Future 

Doing business in the digital age without change management is impossible. The COVID-19 pandemic has served as a powerful reminder to the C-suite and business leaders of this reality. Business leaders have an amazing opportunity to become growth drivers with this foundation. Conventional business needs such as ensuring stability, meeting business requirements, and managing delivery, costs, and risks are still necessary. However, they are inadequate in today’s ecosystem. A fast-paced and competitive business environment demands Change and a new set of bold strategies for putting technology & people at the center of the business. Break the shackles, Embrace & Inspire Change to Become a True Business Leader.

INDOVANCE Inc with its exclusive delivery hub in India is a global CAD technology partner serving the needs of the AEC industry since 2003. At INDOVANCE we focus on the unique need of each project or client and believe in addressing the real challenges and guarantee that the process will be well-coordinated, smooth, efficient, and hassle-free.

We collaborate with our customers around the world to develop bespoke business solutions using our enormous engineering talent pool and state-of-the-art technology. To deliver long-term engineering and business strategies, we align with your culture and processes to create an unbreakable partnership. With over 300 full-time employees and more than 600 customers in the US, Europe, India, and Asia, we are poised for the next level of success.

For more queries regarding any of the topics mentioned above, feel free to connect with us on our website www.indovance.com, or contact us at +1-919-238-4044.

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