Is Digital Transformation Worth It?
Unfortunately, it is one of the first questions that sponsors stumble.
Digital Transformations are risky. Is it worth the pain? Why should you even bother?
My humble option is – it depends!
It depends on many things; a few are listed below for you as a starting point:
What are your short/medium/long term goals? How can Digital Transformation support you in reaching those goals?
Your current business environment:
Are you expecting intense competition? If your competitors offer better products/services using technology, you may want to act swiftly.
The urgency to solve business problems:
Every business faces inefficiency and manual processing problems. How quickly do you want to solve these problems? If they are crippling your business, you should seriously think about the transformation.
Opportunities available in the market:
Most traditional businesses’ technology adaptation is prolonged. If the modern software can transform your customer experience and efficiency, then why not tp plan for transformation?
Readiness for handling transformation:
Are you ready for Digital Transformation? Do you have enough capital, human resources, technical and change management knowledge? How can it impact your Business As Usual (BAU) work? It is vital to understand these questions before embarking Digital Transformation journey.
Summary: Is Digital Transformation Worth It?
Do not rush, and thoroughly understand what Digital Transformation is all about? How it will help your business to move forward and help you meet goals.
Note that Digital Transformation is not a silver bullet to take your company to the next level.