The common maxim today is that organisations wishing to thrive must digitally transform to be able to compete with nimble disruptors and other competitors in their industry who are already ahead of the curve.
However, while many companies are embarking on a digital transformation journey, they are not all considering the financial returns they will be receiving once they have adopted these expensive technologies.
So says Herman Singh, founder and CEO of Future Advisory, who will be presenting on 'Getting ROI out of your digitisation transformation journey', at ITWeb Digital Economy 2020, which is happening on 20 March at The Forum in Bryanston.
Singh highlights the common points of failure to avoid when embarking on a digital transformation journey. The first one is not getting your digital strategy right.
Confusing ‘technology’ with ‘strategy’ is one area in which many businesses come unstuck.
Herman Singh
“Confusing ‘technology’ with ‘strategy’ is an area in which many businesses come unstuck."
Not aligning transformation to business goals is also an issue, he says.
When it comes to measuring the status and success of any transformation, he says the reduction of operating costs and CAPEX must be a priority.
“Then there’s greater customer retention, higher customer satisfaction and an increasing share of wallet.”
Finally, he says success can be judged on the level of legacy retired, a reduction in manual inputs, and of course, improved profitability.
Delegates attending Singh’s talk will learn how to design and prioritise their digital transformation journeys, as well as how to execute for quick wins and low risk. “They will learn how to realise business value fast,” promises Singh.
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