Building a business case for digital transformation
Digital transformation isn’t just about technology. It’s about making your business run more efficiently and delivering a better product or service to your customers.
It doesn’t have to be about the latest gadgets either nor does it have to be a risky project: make the right choices and digital transformation can be a powerful catalyst for business growth.
This article covers the basics of building a business case for digital transformation so you can get the support of business stakeholders and drive innovation.
Assess your problems
To convince your team that change is needed, you have to show them why. Re-assess your business and identify all of the problems that threaten to damage it.
Many businesses in need of a digital overhaul are challenged by:
Declining productivity. Legacy employee systems mean staff have to spend a lot of their time on manual tasks that could be automated. A salesperson shouldn’t spend their time re-keying data, they should spend it talking to prospects. A marketer shouldn’t have to ask their boss to give them access to essential files; they should be able to download that data from secure cloud storage whenever and wherever they need it. Business decision makers shouldn’t have to search for data in different places to make a decision; they need integrated systems and digital KPI dashboards.
Customer dissatisfaction. Today’s customers have unlimited access to information, they can research you and your competitors before they buy. If your customers are unhappy with your business, you need a way to track their behaviour and analyse how to better meet their needs. 56 percent of businesses assess the impact of digital in relation to the customer experience, according to Forrester’s study.
Growing competition. Businesses that are embracing modern digital technologies are growing as a result and eating into the market share of laggard organisations. But, they are in the minority. Only 5 percent of organisations feel that they have mastered digital to a point of differentiation from their competitors says the same Forrester study.
Identify your organisation’s issues and quantify them in terms of employee morale, wasted hours, lost customers and competitive pressure (especially on margins) and you’ll begin to see the need for change. The more significant the threats, the more urgently you need a solution.
Modern technology can address these challenges; productivity, customer relationship and competitive differentiation.
For instance, applications such as Microsoft Dynamics 365 collate all of the information you have about your customers into one place, giving your employees the information they need to deliver a better customer experience.
Tools like Synergi Apps and Modern Intranets in Office 365 are another driver of business efficiency, presenting updates, tasks, email and data in one easy-to-view place; delivering seamless apps which automate processes, easing everyday work for your employees. These kinds of digital technologies are small ripples that can create big waves in your business results.
Search for solutions to your problems and you’ll see how many are available to you. Your next step is to pick the right ones for your business.
Narrow down a shortlist
Once you’ve decided on several digital solutions for your transformation project, you need to compare them side by side and find the best fit. You’ll want to consider:
- Costs. Will this tool require a capital investment or are they funded out of operational budgets?
- Provider. Do you trust the provider to give you the quality of service that your business needs?
- Features. Are the promises of the technology backed up by case studies? Will it solve the problems your business faces?
- Ease of migration. How long will it take to adopt this technology? Will your employees be faced with any downtime?
- Risks. Are there any risks involved with adopting this tool?
With these details, you’ll be able to present your chosen shortlist of solutions to the rest of your team.
By the end of 2017, two out of three CEOs from Global 2000 enterprises will have digital transformation at the centre of their corporate strategy, according to IDC’s analysis.
Other businesses are recognising the limits their current technology places on their business and they’re responding. Now’s your opportunity to get ahead of the competition.