Here’s what industries can learn from the Deloitte digital transformation.
Key Lessons and Takeaways from Deloitte Digital Transformation
CEOs are reassessing mindsets as well as company processes after a year of disruption and unexpectedly quick transition, looking for both agility and resilience as they turn to the months ahead.
In the boardroom, surveys, speeches, and conversations among chief executives are shifting from a focus on digitizing processes to a focus on increasing customer experience.
In the C-Suite, the focus of conversations has shifted from digitizing processes to increasing customer experience. Specifically, CEOs are no longer talking about whether to digitize their business but how to do so.
Also, as the world gets more complex and demanding, survey results show that CEOs are reassessing their mindsets. As well as company processes after a year of disruption and unexpectedly quick transition, looking for both agility and resilience as they turn to the months ahead.
The good news—and the bad news—is that it’s not just about business disruption anymore. Disruptive technologies that were once seen as threatening to take over jobs are now viewed as an opportunity that can energize the workforce.
Strategies for Digital Transformation
Focus and execute the change.
Know what to pursue, have the right mindset and processes to stay on track. Focus on, pursue and deliver the right things.
Do what you are good at. Don’t rush into things you are not good at. Avoid the temptation of doing all of them immediately. Do what is important first, then go to the next one on the list.
Know your customer.
Understand what your customers want. Know what they value, respect their time, and their intelligence. And always remember that simple solution are usually the best solutions.
Move fast, but don’t break things. Acknowledge the realities of business today. Be agile and stay agile—even more so tomorrow than today—but don’t forget to be disciplined and to follow your plans.
Focus on the customer.
The customer experience is the only way to win in the digital economy. If you don’t know how well your product or service measures up against competitors, ask customers—and then improve.
Innovate for a better customer experience.
Innovation is not just about creating new products and services, it’s also about creating experiences that delight customers and create new value for them.
Businesses that have embraced the digital revolution have seen profits skyrocket, while others have been left behind, struggling to catch up.
The pace of change will continue to accelerate as technology becomes more ingrained in our lives. But the key to success is staying ahead of disruption while maximizing opportunities for growth and long-term competitive advantage.
No doubt about it, the digital revolution has transformed businesses. What used to be a series of disruptive events is now an ongoing transformation process.
The evolution of business is happening at warp speed. It affects how companies are managed, how they are structured, how they are organized, and how they are led.
The digital revolution is more than just the digitization of business processes, products, and services. It’s about leveraging technologies while staying grounded in the wisdom of experience while embracing new thinking, new leadership models, and new ways of doing things.