Digital transformation has been top-of-mind for executives in every industry for over 10 years. As we exit 2020, that transformation drumbeat is pounding ever faster, buoyed by new global challenges forcing businesses around the world to re-examine their strategies and processes.
But “Digital Transformation” is not one-size-fits-all. It’s a company’s bespoke combination of business models, operational evolution, and how value is delivered to the customer. Against the unparalleled backdrop of the past year, we can have seen all of our business models and external pressure shifting underneath us. For many (if not most) organizations, that has pressurized the transformation journey they were already on.
With 39% of organizations surveyed in our special edition Insight & Vision report reporting that they accelerated their Digital Transformation or ServiceNow roadmaps as of July 2020 – expect the speed of digital transformation to take another step jump in the coming year. Today’s companies face a new reality: digitization or extinction.
At Acorio, we believe ServiceNow to be the heartbeat of the modern enterprise –the platform and workflow engine that unites and empowers all other enterprise technology and digital transformation. The platform’s growth in the market over the last decade speaks for itself, now claiming 42% of the 2,000 largest global companies among its customer base. As their CEO, Bill McDermott likes to assert, ServiceNow customers face a generation-defining opportunity to achieve what so many have been striving to for so long – align and automate work that powers business, enriching the lives of our customers and employees.
From Acorio’s New Advisory eBook: Charting Your Journey
Just as there is no single starting point for business digitization – every organization comes into their journey with a unique blend of technical debt, lack of adequate digital thinking, and organizational resistance.
Keep in mind when planning your digital transformation, your number one priority should be creating a detailed plan that is best for your business, personalized for your team and addresses your org’s specific goals.
Pro Tip: Buyer beware of one-size-fits-all solutions or fancy, find and replace PowerPoint decks. Your plan has to be yours – scalable and based on best practice lessons.
With the right blend of practical advice, methods, and tools, your Transformation Roadmap should be a vehicle to guide your organization to envision how your business should work in the future, what your teams should look like, and how to maintain momentum to best sustain success.
By definition, the process of transforming is never really over. Rather than thinking of your transformation as a one-and-done system upgrade to complete, adopt the mindset that it’s an ever-developing path forward into the future.
While the call to transform is compelling, the actual work of change is hard. To help your teams tackle the necessary in-the-trenches work to create a digital business model, we asked our Acorio Advisory Team to detail the biggest and most common challenges faced by our customers. Then we asked what advice and guidance we can offer to clear those hurdles away (or at least effectively combat them.) Here are some common scenarios that can often decelerate digital development:
- New business obstacles (say, like a global pandemic) that force an organization to transform or fall behind
- The need to show ROI and a faster time to value for technology investments
- Lack of momentum for critical transformation efforts
- Sustaining momentum and evolving value
- Increased pressures from competition requiring new innovation
If you may be affected by one (or more) of these hurdles, download our newest Advisory eBook to learn how to overcome each of these five hurdles to unlock the next level of your digital transformation.