Decoding the Top 3 Challenges of Digital Transformation 

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

By James Wilson

In this era, “Digital” is a term that is imbibed in the minds of businessmen and entrepreneurs across the globe. The pace at which businesses are embracing digital transformation is overwhelming. But how many of us actually know what it is?

Digital transformation is a process of embracing digital technologies to improve a business in every area of its expertise. It not only gives a competitive edge to the organization but also helps it deliver enhanced value to the clients/customers. Look at these digital transformation stats to get an idea about its wide acceptance.

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Gartner predicts that by 2020, there will be over 30 million devices that would be connected to the internet. This in itself proves how digital transformation is a necessity more than an optional endeavor. However, the road to adopting digital transformation is no cakewalk. There are certain roadblocks that a business might face. What are they exactly? Read on to find out!

Deciding Between the Two Extremes

With infinite technologies available in the market, there is always a state of dilemma as to what technology would serve as the right solution for the business needs. As far as 63 percent of small businesses feel confused when it comes to choosing the right technology for their business.

The key is to grow your business, and that is another reason why you can’t go wrong with the adopted technology.

Some businesses opt to go slow with integrating technologies into the business. On the other hand, there are businesses that choose the hard way out by choosing complex technologies. It is all hit and trial that works here as you never know how the technology adoption and acquaintance would serve the business objectives. However, this should not be the case!

The image below illustrates critical factors to consider when choosing the right technology for a business. It will help you choose strategically and move from “hit and trial” to a “sure and secure” solution.

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Dealing with the Skills Gap

Yes, security and investment concerns are common when moving on with the digital transformation wave. However, an even bigger concern points at the workforce angle of the scenario. It is a human tendency to resist change, and that is what makes for the biggest challenge when introducing digital transformation in the premises.

With digital transformation comes extensive training and skills enhancement, which calls for efforts on the part of employees. The change would obviously be the best thing for the organization, but it will take time to adapt to the new setting.

The idea should be to go slow with the employees and work at their pace to get them to start thinking outside the box along with fending away the mind-blocks.

Here’s the Lewin’s change model for a better understanding of the steps involved in change management.

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The Lack of Robust Policies

Having invested in digital transformation is a big step for a business. But, in the light of this new change, the organizations ignore/forget to draft new security & privacy policies. This is where they commit a huge mistake by twisting the existing policies instead of creating new ones.

The goal of policymakers should be to trigger institutional change, manage security & privacy protocols, and set policy frameworks for the successful adoption of newer technologies.

Here is a study that shows how data protection concerns hinder the implementation of digital transformation.

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Feeling naive while penning robust policies is common, which is why you always have an option to refer to outside help. For your surprise, the  digital transformation consulting market boomed to $23 billion as per a 2017 study. Here’s a bar chart that predicts the role of the digital transformation consulting market.

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In the end, it is the stringent data & security policies that can save you from downtime and lost data. Therefore, it is suggested to play safe with the guidance and service provision from the best consultants around.

After all, “Digital revolution requires really often, a rethink of the entire business itself”- Mike Renner

Digital Transformation- A Journey Worth Overcoming the Challenges

Choosing to jump out of the comfort zone is where the real success lies! See, there is nothing that comes easy, so the challenges are all part of the game. Digital transformation is undoubtedly the need of the hour, and no matter what it takes, you need to set a standard for others to follow.

So be it selecting the right technology, managing the change, or building a stringent policy structure; overcome the existing challenges by blending teamwork with the availability of the right resources.

Upon successful implementation of a digital transformation strategy, you can expect decent revenues hitting the charts as an acknowledgment of your efforts.

James Wilson writes on various topics, be it a technical related to product engineering or non-technical like sharing my experience on how to manage both home and work at the same time. 

Digital transformation stock photo by Sashkin/Shutterstock

The post Decoding the Top 3 Challenges of Digital Transformation  appeared first on SmallBizDaily.

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