3 Strategies for Accelerating Digital Transformation Responsibly
Nov 1, 2021
Accelerating digital transformation is a must for most businesses today. In one 2021 survey from McKinsey, only 11% of organizations said their current business models would remain economically viable through 2023. Another 64% said they believe staying viable will require building new digital businesses.
According to a recent report from CTG, digital transformation is a key driver of corporate performance and customer satisfaction. At the same time, well-considered digital transformation can improve employee engagement and talent sourcing. Digitizing today will help your business remain viable and thriving into the future.
However, cutting corners for the sake of speed can mean critical missed steps that lead to unstable or unlucrative transformations. CIOs and CTOs who want to accelerate responsibly can start with these strategies.
1. Build a digital transformation roadmap before implementation.
Digital transformation is about more than technology. True change happens when you set clear objectives for the initiative and design a digital transformation roadmap to guide how you will hit those objectives with the most business impact.
For example, Indiana Harbor Belt Railroad called on CTG to modernize and improve its core operating application. CTG assessed the business’s current-state app and future needs thoroughly before developing a three-phase plan. With its Business Process Transformation solutions portfolio, CTG helped Indiana Harbor Railroad leverage Agile best practices to build and implement a new application in six months. Thorough planning helped the company reach its business objectives quickly and efficiently.
2. Focus on innovation with digital transformation technology.
Forrester reports that CIOs spend the majority of their budgets (72%) on existing technology. Only 28% goes to new technology investments. But digital transformation means innovating to increase efficiency, and business leaders should be willing and able to champion new technologies that help them reach true, sustainable transformation.
Take the case of Independent Health, a healthcare company that partnered with CTG to rebuild its infrastructure and interfaces. CTG used its Technology Transformation solutions portfolio to help the company marry legacy systems with new ones. By investing in a rebuild instead of relying on old tools, the company accelerated digital transformation to keep its brand ahead of the competition.
3. Budget for operational and cultural transitions.
Digital transformation priorities should include people just as much as technology. From leadership to employees to customers, all stakeholders should buy into the transformation to reap the full benefits.
When the Hospital for Special Surgery worked with CTG on a two-year digital transformation project to replace its clinical and financial systems with Epic, patient support was a primary focus throughout the transformation. CTG relied on its Operations Transformation solutions as analysts provided patient support for Epic MyChart. CTG and the Hospital for Special Surgery increased patient portal adoption significantly with an efficient system for documenting, escalating, and resolving issues.
Sustainable digital transformation can happen quickly, but only with the proper preparation and follow-through. Devise a clear roadmap, stay open to innovation, and support your people throughout to realize the fullest business impact of your initiatives. If you need help jump-starting your transformation journey, contact CTG today.