Here’s how organizations can get digital ready without going wrong

livemint.com:

Over the past decade, increases in computing power, ubiquitous connectivity and changes in consumer and channel dynamics, along with new competition, have seen digital technology transformations become CEO agenda items. Building a digital-ready company is a board-level imperative, but success has been elusive. In a BCG study of nearly 900 transformations globally, more than 80% of companies indicated that digital transformation is an urgent priority, but only about 30% of the efforts are successful.

While issues in digital transformation projects can stem from technology and data, the primary causes of failure are typically related to strategy alignment, organization and behaviour change. We identify key factors that can materially change the odds of success. Integrated strategy and a clear roadmap: It is critical to start with an aligned strategy with tangible business goals and outcomes.

Disjointed use cases, sometimes propagated to start off experimentation, are unlikely to create sustained value and may even be counterproductive. For example, a retailer using AI for personalized marketing increased online traffic, but an underprepared e-commerce platform led to poor fill rates and dissatisfied consumers. A 360-degree view is crucial, with an integrated strategy as the starting point that leads to specific business use cases along with clear metrics and a well laid-out roadmap.

This must be done through a concerted effort by the leadership team. The prioritization of select areas to start with is crucial to ensure adequate focus and resourcing, and to secure some early wins. Reimagine and don’t just redesign processes: A common mistake is to focus on automating existing processes and ways of working without rethinking