The digital dinosaurs’ progress is increasing only slowly. Just 25% of Swiss SMEs have a digital strategy for the entire company. Admittedly, digitization is highly complex. Based on three factors, we will explain how your digital transformation will be successful.
Are we totally digital? Not yet. We are only at the beginning of the digital journey. Digitization is massively changing our private and business environment hence every company has taken up the cause of digital transformation in some form or other. As early as 2015, studies by SAP brought these trends to light:
Personal and commercial use of robots will grow by 2000 percent from 2015 to 2030 and could become a $190 billion market.
By 2030, about half of all jobs in the world will disappear due to technological advances. Entirely new professions are being created as a result.
By 2030, 10% of the largest companies in the US will be virtual companies.
According to a study by the HWZ Zurich from 2019, only 9% of the Swiss SMEs surveyed say they are digital masters. A whopping 85% are still considered digital dinosaurs. Still, in McKinsey's May 2021 survey, executives confirm that the pandemic has accelerated the adoption of digital technologies by years.
Digital Transformation – Significant Factors
The digital transformation’s complexity consists in fundamentally rethinking customer experience, business models and processes. It's about finding new ways to create value, generate revenue and improve efficiency. So how can you increase, that is, ensure, the success of this challenge? One of our interim managers and specialist in digital transformation says: "With the right orientation." There are three important factors:
#1. Scope of the Transformation
#2. Variety of Technologies
#3. Inclusion of People
#1: : Scope of the Transformation: Broad Spectrum
Digital transformations should be as broad as possible. Looking inwards must therefore always be linked to looking outwards. Focus on innovative products and services and integrate customers and external partners more closely via digital channels. This can provide a decisive advantage, especially in times of uncertain supply chains.
#2: Acknowledge the Variety of Technologies Involved
The challenge of introducing digital technologies? Keeping track of the multitude of technologies. The spectrum is far more comprehensive than traditional web, cloud and mobile technologies. Data lakes, Internet of Things, design thinking and neural networks are just a few keywords. Systematically examining and clearly playing through the potential and effects of digital technologies will help you to set the right priorities and to find the balance between diversity, complexity, and focus.
#3: Include the People on your Digital Journey
Digitization, automation, and other technological trends have a significant impact on employees and require a new corporate culture. Review your HR strategy, working models and communication.
Personnel strategy: There is a need for experienced innovators at all levels who drive digitization forward and who have both the will and the appropriate skills. A new corporate culture also affects personnel development and recruitment. Keywords such as “gamification of training courses” and “hackathons” instead of assessment centers point the way.
Working models: Dare to experiment with new ideas - for example with "rapid prototyping" or focus on "minimal viable products". In this way you learn quickly from mistakes and thus combine the traditional and digital parts of the business.
Communication: A carefully considered change history helps to understand why the company is changing, where the company is going and what the impact of the changes will be. Use digital channels such as social media to reach employees comprehensively and credibly.
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