25 March, 2021 | Written by: Lakshmi Nair
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Digital Transformation: Don’t make it open heart surgery!
Technology has for many years been a key driver of revenue growth in a time of crisis, but according to an IBM IBV Study, 60% of organisations are using the COVID-19 pandemic to dramatically accelerate their company’s digital transformation. Organisations need to be agile, robust and secure, and importantly now, they need to be able to seamlessly engage customers and employees in both physical and digital domains.
Accelerating digital transformation requires new approaches to IT. The coming 3 to 5 years are pivotal, and success will be achieved by both growing the core business whilst rotating to the future. Organisations must provide best in class customer experience, and digital experiences will not be a ‘nice to have’; instead they are a strategic imperative to fuel revenue growth.
There are however some obvious major obstacles to the pace and success of any digital transformation:
- Legacy technology means there is complexity in the current systems landscape
- Access to data is difficult, owing to outmoded data management and data being held in silos. Data is available, but disparate which means we do not have the real time insights needed to grow our revenue.
- Skills and business alignment of the technology team – there is still a gap between the understanding of the business needs and the capability of the technology team to deliver growth in an agile way, coupled with significant talent gaps in the workforce.
- Conventional IT approaches are inhibitors – large programs, re-platforming, and complex replacements take many years, cost companies more than they can afford, are risky and highly unlikely to deliver on time and in budget.
It’s vital to understand which strategic partners can help unlock business value, and to put the customer at the heart of everything we do.