Digital transformation is a comprehensive term that can mean many different things based on the organization’s business sector or industry. To be maximally successful, most companies are going to need a little help. By partnering with a reputable Microsoft development partner, they save valuable time, money, and mental bandwidth.
Especially regarding supply chain technologies optimization, the transformation process can encompass everything from accounting departments to marketing and everything in between. Given the interconnectivity of processes, applications, and systems in the digital age, the presence of even a single bottleneck in the data throughput can dramatically impede progress, productivity, business continuity, and customer satisfaction rates. Choosing the right partner is crucial.
Successful digital transformation by the numbers
In a recent survey of 1,000 companies conducted by Bain and Company, a mere 5% of respondents claimed that their attempts at digital transformationwere ultimately successful. 20% said that they failed to deliver on their predefined objectives while producing less than 50% of the expected results. Astonishingly, a whopping 75% of companies surveyed “settled for dilution of value and mediocre performance.”
While numbers like these might send some organizational decision-makers screaming into the night, the business world's forward-thinking revolutionaries see this as a tremendous opportunity. Now is the perfect time to implement a successful digital transformation strategy and leave the competition in the dust! Here are some other interesting numbers compiled by Forbes Magazine.
- Only 7% of businesses today claim to have a fully executed digital transformation.
- 70% of companies claim to already have a digital transformation strategy in place or have one that is in the works.
- However, 45% of respondents believe that their related organizations do not have the proper technologies already in place to achieve success.
- In 2019, the business world spent approximately 40% of its technology budget on the race towards successful digital transformation.
- Only 38% of “traditional companies” are adopting a digital business strategy. The numbers rise to around 55% for startups.
- 39% of business executives expect their efforts and financial investments in digital transformation to produce measurable results within the next three to five years.
- In a recent IBM study, 63% of respondents claimed that their severe lack of technical skills is a “barrier to achieving success” in their adoption of Artificial Intelligence (AI) technologies.
Especially regarding supply chain optimization, there is little doubt that digital transformation is on nearly everyone’s mind these days. Regardless of the business industry or sector, enterprises large and small already recognize the unlimited possibilities of this groundbreaking technology. To beat the competition, most companies are going to need a proper partner.
Choosing a digital transformation partner
The selection of the right partner is always an essential component of long-term success of any kind. Unfortunately, many organizations fail to conduct adequate research and due diligence before making their final selections. Here are a few tips on what to look for when choosing a digital transformationpartner.
Industry experience: When evaluating potential candidates, they should offer a dedicated team of technical experts who can conceptualize and customize a digital solution that works best for the unique enterprise. If supply chain optimizationis a priority, then the candidate should possess detailed knowledge and technical aptitude in workforce models, operations scalability, and working prototypes. A partner’s cumulative professional background and technological expertise must always be the right fit.
Shared vision: The potential partner should share the same vision as the client. Does the candidate share the same work ethics, strategic goals, and overall priorities? Does the candidate thoroughly understand the client’s proposed digital transformation strategy? Do they support it? Are they “bought-in?” If unsure, the client might first share their desired outcomes and objectives with the candidate while asking them to develop a specific approach for achieving those goals. Whichever candidate provides the best plan wins.
Technical expertise: There is no one-size-fits-all solution for successful digital transformation. When interviewing prospects, consider asking about their areas of specialty in specific technologies. Are they a Microsoft development partner with expertise in Azure Cloud, Microsoft Dynamics 365, Power BI, Power Automate, and Microsoft Suite? Is the candidate skilled in Robot Process Automation, AI technologies, and Machine Learning? If the organization needs a partner who is an expert in supply chain optimization, can the potential candidate provide examples of previous jobs highlighting their expertise?
TechFabric for successful digital transformation
When first partnering with a new client, TechFabric believes that the initial discovery phase is perhaps the most important. During the first few meetings, we develop a deep understanding of our clients’ business operations, digital transformation strategy, and specific goals and objectives. We learn about our clients’ current industry standards, implementation requirements, and existing legacy applications, processes, and systems.
By performing a deep dive into the client’s current business model, we can then identify possible areas for improvement and automation. At TechFabric, we believe that fully understanding our clients’ long-term goals from the very beginning is imperative—which is why we start at the top of the infrastructural pyramid and work our way down. In return, our clients remain on-budget and on-time. For more information on our digital transformationservices, contact TechFabric today.
Facebook Status Update: Did you know that only 7% of businesses today claim to have fully executed a digital transformation? In a recent survey, a mere 5% reported that their attempts were ultimately successful. Here’s a few tips on what qualities you should look for when choosing a professional consultancy partner.
Linkedin Status Update: TechFabric specializes digital transformation services and supply chain technologies utilizing Microsoft solutions like Azure Cloud, Microsoft Dynamics, Power BI, and Power Automate. With additional expertise in AI technologies, Machine Learning, and PowerApps, our clients benefit from maximized security, unlimited scalability, and a streamlined integration process that is hugely successful.