In
the past, it was enough to provide a cheaper and better product or service to
thrive in the market, but that era is over. In the digital economy,
organizations must continuously struggle to keep pace with digital trends
for Digital Transformation and market expectations.
Myth # 1: Digital
Transformation is a Technological Challenge
Last
year, Forbes reported that 84% of digital transformation plans failed. The
experts each have their point of view on this unusually high failure rate, but
these two aspects come up frequently. First of all, the most challenging part
of the digital transformation is to encourage organizations to change. Then,
the path to transformation involves upgrading your business strategy for the
digital economy.
To
summarize, we need to see the digital transformation as a vision and technology
as a piece of the puzzle, a tool that can be used to transform, rather than an
end in itself.
Myth # 2: The
best way to succeed in digital transformation- takes a step by step approach
Not
according to the experts. It's better to focus on redesigning your business
model than making incremental changes. It is quite possible to modify its
processes with small incremental keys. But we must not adopt this state of mind
at the expense of other more ambitious projects.
A
lot of companies are touting their E-Government automation plans,
but the problem is that their ambition is only to become a fast track and not a
butterfly.
Myth # 3: The
digital transformation begins in the front office
Better
to start with back-office operations. Because if your back office is messy, if
you have hundreds or thousands of disconnected back-office systems (old or
new), it's tough to get a unified view of your customer. That's why the best
digital transformation projects start by targeting the back office.
Myth # 4:
Customers are looking for personalized service and are not interested in
automation
There
are many theories about what customers are looking for. Some think that
customers are primarily interested in services, not automation. Customers want
the service of their choice, when, where and how they want. It does not matter
whether a robot or an employee offer the service.
Myth # 5: The
rise of enterprise automation is an apocalypse that leads to job cuts
The
rise of automation leads to both job creation and job losses.
A
feeling of fear and disgust reigns over the fact that digital work leads to
more job losses than job creation. But, it is also possible that intelligent
automation complements the capabilities of highly skilled workers.
The
opposite can be said of low-skilled jobs that compete with the automation
trend. The difference is that automation tends to complement (not replace) the
skills of highly skilled employees.
But
here is the good news.
If
we take a long-term view and look at previous e-Permit revolutions,
automation tends to lead to more creations than job losses.
The
question to ask is: how to approach this transition?
Difficult
decisions are needed around workforce retraining and investment policies.
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