Digital transformation – it’s become a central theme in business.
But just what does it mean? And how can you, as a business leader, harness this technology to benefit your organization, instead of becoming digital transformation road kill?
That’s a very good question. And it’s one that many C-level executives are apparently still asking themselves.
A recent survey by The Conference Board of more than 500 chief executives reveals that few global CEOs believe their companies understand what it means to undergo digital transformation. And fewer than half are very confident their organizations have made more headway on this front than their competitors.
The Conference Board also suggests that many digital transformation efforts are not fully formed, so most companies simply are not getting the expected efficiency, productivity, and ROI gains they had expected from these efforts. The group indicates that may be because digital transformation touches all aspects of an organization – impacting and requiring change related to company culture, operations at all points, R&D, and even at the point that the company delivers the product or service.
“Despite the rapid technological advances of the past decade, real productivity gains from this era of digital transformation have yet to emerge,” said Bart van Ark, Ph.D., another report co-author and executive vice president, chief economist, and strategy officer at The Conference Board.
“This year, we’re seeing CEOs respond to this disjuncture,” added van Ark. “Internally, they’re emphasizing the mindsets and core skills needed not only to implement new technologies, but master them in a manner that enhances efficiency and growth. Whether the challenge is technical, political, or otherwise, the key question for organizations in 2017 is this: Are we driving change and disruption, or are they driving us?”
Indeed. Digital transformation will require entirely new ways of thinking about and doing things. And that will entail change across many, perhaps all, points within a business or other organization. It should also be noted that digital transformation is not a process, but rather a journey.
But, as with any journey, you have to start someplace. And a good place to start is by improving your communications solutions. As Rich Tehrani mentions in a recent blog, communications is the low-hanging fruit of digital transformation.
“We are embarking upon a 10-year super-cycle of digital transformation-enabled communications solutions – meaning as a telecom market, there are some great times ahead,” Tehrani says. “It's not just about collaboration. There are a host of new communications-enabled solutions which will allow companies to become more efficient and more profitable. For those of you purchasing these solutions, the longer you wait, the the further you will fall behind.”
To help organizations better understand how new communications solutions can put them on course for successful digital transformation Technology Marketing Corp. has launched a new event called Communications 20/20. It will take place July 18-20, 2017 at Caesars Palace in Las Vegas.
Join us for this content-rich event featuring exhibits, hands-on training, live demonstrations, networking events, unique programming, and more.