Can you afford to miss the opportunity to digitally transform?
INSIGHTS | February 22nd 2023
INSIGHTS | February 22nd 2023
Transformation is a huge and vital part of human nature. Since our very earliest days on planet Earth, human beings have been evolving to both meet and surpass the perceived limits of their environment. It’s what we do as a species; it’s what sets us apart from all other creatures.
Tech’s advancement is moving at an unprecedented pace, and the reliance we have on technology as people and within organisations, is huge. So why does digital transformation continue to feel like a stumbling block? Rather than viewing it as an opportunity, many business and individuals are failing to overcome it.
Digital transformation is about so much more than the adoption of technology. It is, quite simply, the key to wider business development and growth.
When many consider the word ‘transformation’, it’s likely that words like ‘disruption’ will be uttered in the same breath. The negative connotations of words like this can understandably put some off the idea.
Yet to focus on the short-term upheaval is to overlook the long-term gains completely.
Missing out on the opportunity to digitally transform will leave you paying the price further down the line. You need to evolve and invest in the right technological tools or you risk losing the market share, struggling to retain and hire valuable, future-focused staff, and the inability to collect key analytics to ensure you’re engaging with your customers and building loyalty.
The benefits of digital transformation are clear to see, yet the prospect of organisational disruption can still be a challenging hurdle to overcome.
Behavioral change doesn’t happen overnight and removing the fear that many people have when it comes to the implementation of tech takes both hard work and great communication. However, what we’ve also witnessed since 2020 is how incredibly resilient and versatile we are as humans, and how swiftly we can evolve and embrace new and highly efficient ways of working when all other choices have been taken away from us.
It’s no coincidence that many of the world’s most successful businesses, regardless of sector, are those that chose to embrace technological reform and weave it into their strategic plans for the future.
Danish toy company Lego outperformed its competitors and increased revenue growth by 7% in large part due to its focus on digital transformation, creating means for children to connect and play in an ever-more digital world.
Homeware giant IKEA famously embraced mixed reality technology to bring their products into customers’ homes before they buy it, much to the relief of exhausted amateur furniture constructors worldwide.
Sportswear brand Nike, meanwhile, is now on track to have its digital sales representing a whopping 50% of its total revenue in the coming years, recognising that digital is fuelling the future of retail.
Against this backdrop, it’s clear to see that the potential rewards and opportunities of digital transformation are very high indeed.
The key to embracing digital transformation comes with appreciating that it’s not a finite process; it’s a journey and there is no end. True transformations see organisations continue to adapt and evolve as technologies advance.
As with all innovation, change requires a leap of faith but also an acceptance that to stand still is not an option in today’s world.
With many market leaders already paving the way when it comes to digital transformation, the Risk factor that was previously associated with uprooting your processes and digitising them has been dramatically reduced. That’s not to say you shouldn’t be an innovator, however – no two digital transformations are identical, and changes to your processes must benefit the whole organisation.
The time to transform is now, before it’s too late. With a solid strategic plan for evolution, you can begin taking steps to move your organisation forward towards a smarter, more efficient future. Too many organisations have, sadly, paid the ultimate price for failing to transform – don’t let your business, your charity or you follow suit.
We can help you see new digital possibilities and make them happen . Wondering how to start your digital transformation journey? Speak to our Chief Wondermaker and let’s move forward together.
About the author
Digital Strategy & Solutions Architect
Chief Wondermaker and Head of Big Thinking, Tech Innovation & Solution Design at the wonderlab of all things digital, Nathan is the lead data scientist and "Super Thinker" in the team - and makes a great cup of coffee (or two).