Digital transformation is on the agendas of virtually all corporations today. It has risen to the top of strategic plans and has become the focus of businesses around the globe. So great an industry evolution, IDC indicates spending on technologies and services that enable the digital transformation of businesses will hit $1.97 trillion in 2022.
With such a wave of change, many organizations struggle to fully define what digital transformation means – both in general and to their specific business. Is it the Internet of Things? Artificial Intelligence? A migration to cloud based software? The answer is “it depends”. This is both the consultative answer to defining digital transformation and the strategic one as well. The definition evolves throughout the lifecycle of an organization. Waiting for the perfect designation is a detriment, given the speed of change and technology. To succeed in a transformation effort, at minimum, requires including and taking advantage of the whole organizational ecosystem — clients, suppliers, leadership, and employees. In this fast-changing domain, how can companies transform today’s challenges into tomorrow’s opportunities?
Read the paper to learn more and check back next week for Part 2: “People Paired with Digital Technology”, which explores the people side of digital and organizational transformation and why that pairing is key to the success of any digital transformation initiative.
And, as always, contact ICCG to help provide you with insight and information. Schedule a complimentary consultation to review your questions.