Digital Business Transformation involves considerable organisational and business model change. These changes are built upon digital technologies so it is key that digital technology leaders (CIO's, CTO's, etc.) are engaged with the business through this journey to provide advice and guidance to senior leadership teams. This is a core skill of MOQdigital business consultants who can provide the specialised skills and knowledge required.
It is important to understand that Digital Business Transformation is not a single event, it is a journey which organisations will cycle through.
Figure 4 - The Five Stages of Digital Business Transformation
The First Step
A key first step to Digital Business Transformation is acknowledging the need to transform and the risks to the organisation that delay in transformation brings. Time is an important factor and surveys have found a wide gap between transformational leaders and laggards. It is important to remember that in some cases first mover advantage cannot be understated, particularly with the increased customer 'lock in' associated with new digital business models and relationships.
Figure 5 - Percentage of Enterprises at Various Stages in Digital Business (Gartner)
At its most fundamental level, transformation is about change and digital business transformation has its foundation in organisational change. Because organisational change is a disruptive process that involves people, processes and business strategies there will be associated challenges. However, having a clear vision and being able to understand and identify the opportunities as they emerge will help organisations through this journey.
If you think your business is at risk of falling behind or committed to the opportunity that Digital Business Transformation presents, take the MOQdigital digital transformation questionnaire now to discover where your company is at with digital transformation.