Even before the pandemic hit, Judi slot businesses knew it was time for digital transformation. But the shift wasn’t a high priority – plans were either nonexistent or slow and steady.
When the pandemic hit, however, employees were forced to jump into remote work immediately, and companies around the world were charged with transforming digitally in record time – whether they were prepared for it or not.
Now, businesses are figuring out how to move their dust-gathering digital transformation strategies into swift action to meet new demands brought about by this pandemic. In doing so, they must carefully think through how they can not only implement effective change now but also sustain the positive impacts of digital transformation for years to come.
The road to digital maturity is lined with hurdles
The challenges businesses will face today in making the digital shift will be the same that have been holding them back for years. According to McKinsey & Co., only 30% of businesses experience a successful digital transformation. Knowing that has kept many business leaders from getting started in the first place.
For companies that are undergoing a digital transformation, significant hurdles abound. Knowing about and preparing for these challenges beforehand, however, is one key to overcoming them as you move your business forward in the digital realm. The biggest challenge is that it takes years to reach digital maturity and sustain it, which means returns on your time and effort are far from immediate. The demands of the world amid COVID-19 necessitate that you transform now, but the changes you make might not show significant results for years.
One problem is that companies often spend too much time on the front end coming up with a plan and not enough time carrying it out. A recent report revealed many IT teams spend too much money building the foundation for digital transformations, costing companies $2.5 million annually.
Even after you implement your digital transformation, it’s not easy to maintain its positive impact. Many industries (including oil and gas, automotive, infrastructure, and pharmaceuticals) report a success rate of between 4% and 11%. The same McKinsey report also found that only 16% of surveyed businesses experienced long-term improved performance and sustained changes.