Technology

Closing the gap between innovation and execution through digital transformation

DAP (Digital Access Platform) has never been this essential to a company’s success, than at the moment. Given that we are in the midst of a pandemic, companies have been forced to rethink their business strategy with digital transformation and more investments in the same. This has become all too crucial especially during the times of COVID-19. More to the point, companies have been forced to consider a new approach, which has seen most of them depend more on digital initiatives and platforms so as to minimize the negative impacts of COVID-19 on their business. 

For example, companies had to become more flexible so as to steamroll a new approach to their business model, where most of the employees are encouraged to work from home. Moreover, most companies that had pegged services as one of their key business models, have long adopted a digital transformation. At the moment, most of these companies have stream-rolled their new business model to either adopt or include online services, where most of the services are offered online. With most companies adopting a digital transformation, due to the impact of COVID-19 during 2020, companies have woken up to yet another challenge, one where they strive to close the gap between innovation and execution, in these digital transformations. Granted that’s easier said than done, but a read of the following content, should clue you in:

  • Understanding your organization’s strategy: As your company makes the move to a digital platform and various digital initiatives, it is perhaps time for you to better understand your company’s cloud strategy. By understanding your company’s strategy, you’ll be able to better understand what services are on the cusp of being digitized. This should enable you to clearly identify the stakeholders, chart a new route and even develop a customer centric approach to service management on the whole.
  • Identify the top services, that’s critical to your organization: One of the companies that managed to outdo most others during the pandemic, happens to be Online retailers. This happens to be mainly because their business model includes digital initiatives, and it was primarily easy for them to go Digital. But that said, identifying your core strengths is not just necessary, but extremely essential. For example, Amazon already had an online business model in place, so it fared better than most others, by adopting a customer centric approach, wherein they were able to retain and even add-in more customers.
  • KPI’s matter: Given that you are in the process of identifying the core strengths of your organization, it is equally important for you to determine the key performance indicators, current strengths, trends and more. Essentially, you would be looking at various analytic metrics that can help you to better understand your organization and even take on the competition.
  • Multiple KPIs and teams: Before you attempt to digitally transform your business, it is vital that you establish teams and joint key performance indicators.This should enable you to set targets for each team, strategize accordingly and ensure that you meet them as well.
  • Establish predictive insights: Given the current challenges, and the fact that the pandemic is yet to die out,  all companies would be well advised to develop new business strategy, one that primarily uses digital platforms, for both its innovation and execution; develop intelligent algorithms that can help you get predictive insights for your key services, in most sectors. This should further enable you to stream key services, within a short period of time. With this, you can visualize and monitor key services, round the clock.
  • Focus on the data: When it comes to digital transformation, it is important that you utilize data analytics to plot trends, and strategize accordingly. Furthermore, you need to review your monitoring strategy, adopt a holistic framework and host all the pertinent information in one location. This would enable you to predict accurately and help transform your business accordingly. You can also adopt this holistic monitoring and develop a similar approach for all your teams.\

Granted most companies were deep in the red last year, thanks to the pandemic. But with a

consolidated approach and a walkthrough software, companies should be able to adopt a key

digital transformation. This should enable them to close the gap between innovation and

execution. In the process, companies can ensure that they will be able to meet the challenges head on. Digital transformation does not happen in a single day nor does it take place overnight. It is a set of processes that begins with aligning your key services, and understanding what is important to your company. 

Bottom line, you need a great deal of flexibility and one that even includes new approaches, one that will enable you to meet various challenges head on. When it comes to digital transformation, it is necessary that you utilize predictive insights to plot and plan the future of your organization.

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