Top 5 Signs That Indicate Your Business is Ready for Digital Transformation

The Digital Economy is revolutionizing business processes, business models and how companies interact with end users and customers. Businesses must embrace digital transformation by ditching outdated legacy systems, and using digital-ready technologies to survive.

In a recently published article entitled, “Five Signs Your Business is Ready for Digital Transformation,” author and expert, Tony Evans, outlines five aspects within your business that indicate you’re ready for a digital transformation:

1. A chief digital officer (CDO) is on board – or will be hired – to drive digital transformation.

  • CDOs help an organization drive growth by converting traditional analog business to digital ones. As a part of executive management, the CDO should report directly to the CEO or the board, and the position should have a level of authority that is next to untouchable.

2. Executive management and the board support innovation and are willing to walk away from business as usual.

  • The workplace is full of skeptics who are invested in the current business, and many of these individuals are responsible for bringing in lots of revenue and have been sitting at the leadership table for a long time. They will fight the CDO and try to push them out of the business.

  • Companies that are going digital can respond to these attacks by appointing a strong, stable CDO who has the support of executive management and the board.

3. Leaders are turning to design thinking and rapid time-to-market methodologies to solve data problems in new ways.

  • Digital companies are looking for different qualities when they hire: recruits who have an appetite for rapid change, a willingness to embrace and push forward new innovative ideas, and bright, inquisitive minds.

4. The corporate mindset embraces and respects change. It sponsors, incubates, and protects innovation.

  • We must encourage individualized innovation within our organizations. Stifling innovation and preventing it is not an option anymore. Businesses need to allow innovation to happen and create structures and metrics that let innovation thrive.

5. Partners are ready and available to broker relationships that support digital transformation.

  • You never want to be limited by your existing partners. The best partners in the digital economy bring together non-linear relationships to create completely new solutions.

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