Digital Transformation- a $900B failure this year alone
Author: Krishna Kallakuri
Digital transformation has become a major priority for most organizations in some form or another, but for many, it’s proving to be quite the challenge. With $1.3 trillion invested this year alone and 70% of these initiatives not reaching their stated goals, equating to a mind-blowing $900 billion.
Naturally, everyone has something to say; countless industry experts and consultants all offer different answers, but if we were to simplify, the issues that plague digital transformation initiatives fall into three general categories:
- People problems: for example, the leadership may not have the expertise to implement such an initiative, or there might be conflict over its priority for the organization. In addition, with the know-how for leading this kind of change in high demand, it can be hard for small or medium-sized companies to acquire the talent they need. Once they do adopt a strategy, most organizations face adoption challenges, as there is natural tendency to resist change.
- Technology problems: sometimes problems are inherent in the technology itself. With the speed of technological change, by the time a company takes steps towards digitization, it may be “too little, too late.” Problems surrounding data can also sink a company’s strategy, or they can suffer from integration issues with their current technologies.
- Process problems: often an organization’s digital transformation fails because of a lack of coordination throughout the organization. They might choose the wrong tech approach, or they frequently pursue a piecemeal strategy rather than a more holistic approach, and never see the transformation they hoped for.
What’s needed is a solution that brings about an entirely new way of thinking, in a way that doesn’t alienate people but rather builds momentum as its value is realized. Here's an idea—what if we addressed these issues head-on by tackling the decision-making process directly?
Attempting to overhaul a business process abruptly is guaranteed to create resistance. But meeting business users right where they are—looking to optimize the decisions they need to make today—and providing valuable insights from day one breaks down barriers to adoption and creates buy-in.
Scalable solutions are also more likely to be successful. Organizations need to take a holistic approach to digital transformation, thinking long-term and big-picture, but making such a major change is fraught with risk. Implementing a strategy grassroots-style—where once success is experienced in one part of the organization, it can quickly spread—builds confidence and trust across the company and makes the overarching goals more likely to succeed.
The last thing stressed business leaders want is yet another set of tools they need to learn and implement. What they’re looking for is an end-to-end solution that can provide both the platform and the implementation, removing the burden of integrating staffing, data, and technology into their business process.
diwo was engineered from the ground up by industry veterans to directly address these challenges. its conversational interface meets business users where they are in their existing decision-making process, offering insights specifically tailored to their unique context. diwo’s unique focus on specific, business-directed “opportunity types” makes it easily scalable. Thanks to machine learning, diwo becomes even more in tune with the organization over time, while continuously building trust with its users across the company. diwo’s all-in-one platform eliminates the need to assemble hard-to-find talent and seamlessly integrates existing technological assets, making implementation simple.
But there's something even more exciting at play here. Once diwo begins to augment an organization’s decision-making process, the organization almost effortlessly transforms into an “opportunity-driven enterprise”—a completely new approach to business. Rather than a top-down approach with multiple change management or efficiency processes, always trying to put out fires, the entire organization is empowered to act with unprecedented agility, to shape the future rather than react to it.
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