Business Transformation is a change management strategy which has the aim to align People, Process and Technology initiatives of a company more closely with its business strategy and vision. For any transformation of a business or business processes innovation is one of the key drivers
Digital transformation can be defined as the acceleration of business activities, processes, competencies and models to fully leverage the changes and opportunities of digital technologies and their impact in a strategic and prioritized way. There are four key drivers behind these efforts; improving customer engagement, digitizing products and exploring new business models, improving decision making and driving operational efficiencies.
There are six stages of evolution to the digital transformation process:
Organizations operate with a familiar legacy perspective of customers, processes, metrics, business models, and technology, believing that it remains the solution to digital relevance.
Pockets of experimentation are driving digital literacy and creativity, throughout the organization while aiming to improve and amplify specific touchpoints and processes.
Experimentation becomes intentional while executing at more promising and capable levels. Initiatives become bolder and, as a result, change agents seek executive support for new resources and technology.
Individual groups recognize the strength in collaboration as their research, work, and shared insights contribute to new strategic roadmaps that plan digital transformation ownership, efforts, and investments.
A dedicated digital transformation team forms to guide strategy and operations based on business and customer- centric goals. The new infrastructure of the organization takes shape as roles, expertise, models, processes, and systems to support transformation are solidified.
Digital transformation becomes a way of business as executives and strategists recognize that change is constant. A new ecosystem is established to identify and act upon technology and market trends in pilot and, eventually, at scale.
NVC has performed numerous Business & Digital Transformation assessments. Please contact us for more information.