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Top Reasons Why Companies Fail in their Digital Transformation Efforts – EnterpriseTalk

top reasons why companies fail in their digital transformation efforts – enterprisetalk

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Indications like culture shocks, resistance to change, competing priorities, andtalent deficits mean that industries need to re-evaluate their digital transformation goals.
CIOs are stitching together different technologies like APIs, cloud, and micro services intoplatforms, to augment existing business processes and achieve digital transformation. Agilearchitectures are assumed to help streamline operations and serve customers better.Research conducted by TEKsystems back in late 2019, confirmed that 47% of 510 business and tech leaders say their organizations are advancing digital transformation plans across the enterprise.But, the reality is that such digitization processes often fail if they are not bolstered with acomplete organization-wide change – technology, processes, and even cultural changerequired to pull off the transformation.Below are the biggest points of derailment for a company’s digital transformation journey:
CEO sponsorship goes lacking
Transformation always starts from the top — in theory, at least. The lack of a cleartransformation strategy often remains as a key barrier to achieving the full digital potential, and CEOs are often to blame.
Culture shock
According to the TEKsystems poll, 39% of organizations say that their organizational structure is not well aligned to support transformation. Everyone is aware of the power of technology, but not always and clearly realizing how to optimize its …

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Digital Transformation Powers Resiliency & Relevance in Middle Market

digital transformation powers resiliency & relevance in middle market

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Digital transformation has tipped from buzzword to baseline in the middle market, and not a moment too soon. As the COVID-19 pandemic threatens the health of people and businesses across every sector, middle market companies that have built resiliency into their business through digital transformation have more tools to endure disruption. The good news: BDO’s 2020 Digital Transformation Survey, finds that 100% of respondents are currently implementing a digital transformation strategy or are in the process of developing one.However, with virtually all businesses planning for digital transformation and a challenging economic climate ahead, the stakes are higher than ever.“A crisis like the COVID-19 pandemic can lead some organizations to pause or de-emphasize innovation,” says Malcolm Cohron, National Digital Transformation Services Leader, BDO Digital. “But now more than ever, it’s critical to continue developing digital capabilities that enable success for both the present and future. Deploying digital initiatives strategically can help protect revenues and identify unmet customer needs.”Key findings of the report, Building Tomorrow’s Business: How the Middle Market Is Tackling Disruption Today, include:Digital PrioritiesWhile the pandemic has likely shifted short-term business objectives to focus on operational efficiency and effectiveness, in the long term, middle market …

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Digital Transformation Stocks to Stay Hot in 2020: 5 Picks

Information Access and Management (IAM) Platform powers IAM Network - 60,000 + engaged information professionals worldwide.

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Demand for IoT, AI, VR and AR across industries is anticipated to grow substantially. These solutions are capable of embedding intelligence into business operations to facilitate employee and customer engagement. In fact, the COVID-19 pandemic only sped up the process of digital transformation, which now puts us in an era of remote working.The past decade has seen significant growth in usage of smartphones, mobile devices and applications that promotes digitization. However, digital transformation is all aboutintroduction of more technologically-advanced products and services that connect and offer data-rich solutions.Digital transformation helps streamline and integrate all business operations and also save time, effort, and resources by replacing traditional processes with automation. This, in turn, reduces the rate of errors made by users. It also mitigates risks that occur during marketplace fluctuation or in a geopolitical environment disturbance.This is because the coronavirus pandemic has compelled several industries to maintain operations completely on technology as employees worked from home due to lockdowns. In fact, pharmaceuticals and healthcare operators across the world have resorted to AI and cloud technology to find a cure for the deadly virus.COVID-19 Crisis Drives Digital TransformationWhile some organizations had already opted for digital transformation, it was …

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Council Post: Five Ways To Prepare Your Company For Digital Transformation

council post: five ways to prepare your company for digital transformation

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Digital transformation (also called DT or DX) is the cultural, organizational and operational change of an organization, industry or ecosystem through the smart integration of digital technologies, processes and competencies. Transformation occurs in a staged manner across all levels and functions of a company.
While digital transformation was already on the rise, the number of companies integrating technological elements into their workplaces has hugely skyrocketed since the outbreak of the coronavirus. From my perspective, remote teams and digital tools might be the new normal.
As the founder and CEO of a recruitment consulting company that specializes in high-tech, I want to talk about the knowledge and tools you’ll need to prepare your company for digital transformation, a more effective strategy and a smoother transition.

Why pursue digital transformation?
Digital transformation isn’t just about disruption or technology; it’s so much more. Beyond tech tools and industry-leading innovation, digital transformation is an intelligent, people-oriented evolution. The process is meant to revolve around people, value, optimization and adaptation.
Across industries and niches, companies are turning to digital transformation to help them automate their systems, boost efficiency and effectiveness, save money, drive innovation and grow business.

Digital transformation leverages …

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Digital transformation in the time of COVID-19

digital transformation in the time of covid-19

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The COVID-19 pandemic has fundamentally changed the face of care provision across the world. Telehealth adoption in the US, for instance, has grown around 3,000% since the start of the crisis, taking much of primary care to people’s homes rather than being necessarily tied to a doctor’s office or hospital; A&E attendance in the UK is at its lowest in reported history as patients steer clear of hospitals for fear of contracting the virus; and hospital trusts have been responding with alternative care solutions such as digital triaging services to ensure that patients are still receiving the treatment they need.In exclusive interviews with Healthcare IT News, representatives of Cambridge University Hospitals (CUH), University Hospital Southampton (UHS) and tech consultants BJSS discussed how the health crisis has pushed forward digital transformation in UK.
TELEHEALTH
One of the key areas of change is in telehealth. The scale of adoption for remote working technologies and agile and flexible services is hitherto unmatched, as the threat of infection has forced health providers to reconsider the way they offer services. Dr Afzal Chaudhry, CCIO at CUH, mentioned how enabling clinicians and operational staff to work offsite was “safer for them whilst continuing …

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Road to successful digital transformation: Platform, Ecosystem, and Continuous Reinvention

road to successful digital transformation: platform, ecosystem, and continuous reinvention

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There aren’t many telecom operators in the world that have not yet realised the importance of digital transformation. However, too often we have seen piecemeal measures being taken, which almost invariably lead to unsatisfactory results.
To succeed in digital transformation, telecoms industry stakeholders need to collaborate and embrace a holistic approach, building from platform up, reaching out to partners beyond the conventional telecoms domains to develop an ecosystem that can address changing market demands, and continuously delivering the most up to date solutions to enable customer value creation.
It is a valid statement that every telecom operator is different from the next one, because the customers they are serving are different, by geography, by segment, or by demographics, often by all of these factors. On the other hand, there is also strong commonality between operators, because the fundamental requirements to support digital service provision that most of the customers demand are the same. These include data collection, storage, governance, and cross-domain data analysis, frictionless handling and delivery of content and service, accurate billing, payment settlement, and many more.
This makes it a classic scenario where the 80:20 principle should apply. In other words, about 80% of a typical customer’s demand …

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Digital transformation of business processes: 4 benefits

digital transformation of business processes: 4 benefits

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Before identifying the advantages of digitization, it’s worthwhile to define it, as digitization is attributed to many different processes. An article in Forbes highlights the need for the distinction between some of the three most common buzzwords in this context. 
Gartner defines digitization as “the process of changing from analog to digital form.” In concrete terms, it is every process that returns information that can be read by a computer. There are several examples of this in a business context, from payroll management to sales performance monitoring, and data analysis, all functions that have gone through a strong digitization process. 
Digitalization, on the other hand, is often used interchangeably with digitization. The article defines it through the human dimension as “the way in which many domains of social life are restructured around digital communication and media infrastructures.” Regardless of the definition that is considered most appropriate, the fundamental point is its ability to bring about impactful changes that benefit both companies and individual users. 
Finally, digital transformation takes on a broader meaning of digitization, as it is a dimension of change that impacts all business functions, with a strong customer orientation. In concrete terms, a set of digitization projects …

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Marketing’s Role in Digital Transformation: Why Sales Owns the Last Mile

marketing’s role in digital transformation: why sales owns the last mile

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Marketing’s Role in Digital Transformation: Why Sales Owns the Last Mile




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Making The Digital Leap In Response To COVID-19 And Beyond

Information Access and Management (IAM) Platform powers IAM Network - 60,000 + engaged information professionals worldwide.

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What You Need Now: Making the Digital Leap in Response to COVID-19 and Beyond

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By: Saleema Vellani
Is your business struggling to pivot or ramp up their digital plans? You’re not alone.
According to McKinsey, even before this pandemic brought digital transformation front and center, 80% of executives were concerned that their current business models were at risk of being disrupted in the near future. 84% of executives reported that innovation is essential to their growth strategy.
It’s tempting to react to this crisis and play catch up. While digital transformation isn’t rocket science, understanding how to roll it out and how it will impact your company’s culture are things you can plan ahead for.

[Related: The Lonely, Critical Role of Change Leaders]
From buzz to reality.Innovation” and “digital transformation” are such ubiquitous words. Their importance gets lost in translation as many people attempt to explain this concept to the entire management structure.

What is digital transformation?
Let’s clarify what digital transformation means. Salesforce offers this succinct definition:
Digital transformation is the process of using digital technologies to create new — or modify existing — business processes, culture, and customer experiences to meet changing business and market …

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