The phrase ‘Digital Transformation’ is no longer relevant.
There. I said it. I’ve been saying it for some time.
It’s become the most overused clickbait buzzword.
Why do I think this?
Let’s look at the two words, digital and transformation.
Digital is a way of doing things, not a thing and certainly not a specific technology.
Paradigm shifts in technology have enabled businesses to transform their operations and reinvent their ways of working to delight their customers and empower their employees in ways that they could never have previously imagined.
Until recently, digital transformation has been a good way of describing the change a business must go through to ‘become digital’. Transforming to become digital, so all good there.
But now things have changed. COVID-19 has accelerated the move to digital for many businesses as evidenced by this McKinsey article and visual.
Transformation programs that were expected to take many months to implement have been reduced to a small number of days, triggered through a new urgency of business survival.
More importantly, these changes have now been made.
Of course, some businesses have not been able to respond.
Some are still pondering over the benefits of introducing modern technologies and digital ways of working.
Some know where they need to be but don’t know how to get there, or they don’t have the capabilities they need.
Those businesses will now need more than digital transformation to survive, assuming that they will still be in existence over the next few months.
For most businesses, it is no longer about digital transformation. They have already transformed some or all of their business.
They have adapted to a world where working is now remote-first and geographically distributed by default. A world where their customers and clients are digital-first, more technology savvy and more demanding. A world where business decisions are made with speed and agility.
For them, it’s now about incremental and continuous improvements to infuse digital and technology across the entire business to create greater efficiencies across the entire value chain.
It’s about evolving their cloud capabilities, maturing their data and advanced analytics, and optimising their operations with quality and security automatically baked in.
This still may require an element of ‘transformation’ here and there, but this will build on the momentum they already have rather than from a standing start.
It’s no longer about a silver bullet engraved with the words “Digital Transformation”.
At Momentum, we can help you to transform some or all of your business. Contact us for a confidential conversation.