You’ve spent a lot of time reading all about those benefits digital transformation has in store for businesses. You’ve seen all the stats, got all the facts, but still don't know how to get your organization to buy in on a digital transformation plan?
This can become even harder if digitization is a sensitive subject in your organization. That’s why you need a plan. If you don’t have the slightest idea where to start, bear with us as we give you the key points of your future plan on getting your organization to adopt a digital transformation.
What is the Competition Doing
Whether you want to increase productivity, efficiency, or improve collaboration and customer experience, you have to agree that the ultimate goal of any digital transformation plan is getting a competitive advantage. To become more competitive, you’ll have to leverage the digitization in a relevant way.
The best way to find out what has to be changed for the better and which solutions are the most popular is to do some research on your competitors. Do they have a digital transformation plan? Are they outsourcing IT services? What did they digitize? How are they doing? What do their employees and customers have to say about it?
We’re sure that you’ll find at least a few highly specific actions in their digital transformation plan. This will give you a great starting point of deciding which digitization path to pursue to stay competitive.
How Will It Help You Capture the New Market Value
To make sure that your organization buys in on your plan, you’ll have to provide them with something more than comparing your organization to the competition. You’ll have to show them how digitization will help you capture the new market values and opportunities.
We’re sailing in uncharted waters here since we don't know your business model. The best way to start is to analyze your customer base and your market. What has changed? Do your customers prefer a different kind of service? How can the digitization help them reach a better and informed purchasing decision?
Identify the Key Departments
If you want your entire organization to accept the idea that every business has to become a digital business today, you’ll have to identify the departments that will benefit the most from the digitization process.
Is there any specific department that is struggling with the workload? Are they flooded by repetitive and boring tasks? Do they find it increasingly hard to communicate and collaborate in an efficient manner? Are the projects done before the deadlines? Do they have access to a reliable and fast Internet connection?
If you present them with your detailed plan, you’re likely to get them on board, especially if digitization will make it easier for them to get their everyday tasks done. The more digitization advocates you have on your team, the easier it will be to change the minds of your executives.
Clearly Establish Digitization Goals
After you’ve completed all the aforementioned steps, you’ll have to establish clear digitization goals. Since you’ve identified how to capture the market value, which departments will benefit the most from the digitization, and what the competition is doing, establishing clear goals should be a straightforward process.
The digitization process will help you achieve the gold standard of business models. The most common goals are:
- Empowering the customers and delivering a great experience to them.
- Increasing business efficiency and productivity.
- Cutting down the expenses.
- Staying ahead of the competition.
- Increasing data security and protecting customer privacy and anonymity.
Sell It as an Investment
Digitization requires cash, sometimes lots of it. Especially if it requires investment in IT infrastructure. All those servers, routers, specialized software solutions, and IT experts don't come cheap. This is why you have to find a way to present your plan to your executives. As soon as you start your presentation, expect to hear that scary question: “Can you tell me the page number for the financials, please?”
This is why your financial plan should always include the ROI section. This will help your executives realize the power of the digital investments. To start off, you can include some stats. For instance, did you know that 31% of companies are assigning more than 15% of their revenues to digital investments?
Make sure to analyze and study the processes you want to digitize. Describe the workload in great detail. Include how much time it takes and how much it costs the company yearly. Explain how the digitization will cut down costs and increase efficiency. Try to find the examples in the industry.
There you have it – a blueprint for your future master plan for getting your organization to buy in on a digital transformation plan. Each stage of this plan is dependent on the previous one. This is why mastering all of them is crucial for the plan’s success.