‘Digital transformation’ relies too much on technology and not enough on strategy and processes. From a company focused on enabling technology solutions for our clients, we know this sounds a little crazy.
Advanced technologies have paved the way for a new competitive environment, unlike one we’ve seen before. Organisations have turned to adopting the same technologies their newer, younger competitors were built on, in an effort to transform themselves – embarking on what’s become widely known as ‘digital transformation’ or DX.
However, DX doesn’t seem to be paying off for everyone. Last year, businesses spent $1.3 trillion on digital transformation globally, of which $900 billion was wasted. Closer to home, with only 8% of Australian organisations seeing results from their digital transformation efforts, something clearly isn’t working. We believe the focus needs to shift from technology to strategy – the first step to overcoming barriers to transformation.
So, why do some succeed while the rest struggle? Read on this article to explore the current transformation landscape, the barriers faced by mid-tier organisations, and discover steps you should take to accelerate your transformation.
Barriers to adoption for mid-market businesses
The digital transformation myth
Six steps to overcoming barriers and accelerating transformation
Improve profitability and maximise return on capital across the operations and asset lifecyles to enhance competitiveness, improve customer experiences, and cut the hype. Discover what Digital Transformation could mean for your business, with insight on:
Why Digital Transformation is driving competitiveness across industry
How Digital Transformation empowers people and uncovers new opportunities throughout enterprise value chains
The steps and technology to develop and implement a Digital Transformation strategy
The Cisco blockchain framework details the necessary elements for a simple, secure, scalable enterprise-grade blockchain that is based on Cisco’s proprietary technology. Cisco blockchain framework is composed of the following reference groups: Platform, Interfaces, Infrastructure and network and Security and analytics.
Digital technology is disrupting the traditional business model. Mobile devices, big data, analytics, social media, and other trends require new business designs to capitalize on the new revenue opportunities they present. Is your organization prepared to become a “digital business?”