1 Nov 2019, 08:59 — 7 min read
Have you ever thought how manual processes are slowly killing your business? And just when you finally decided to go digital and are fully committed to automate your business, the thought of, ‘what if it fails?,’ hits you, especially when about 70% of digital transformation in businesses fail – oh the horror and chills it brings to every business owner.
From choosing the incorrect software package, increasing budget costs to implementation failures, all are valid points to be scared of. Digital transformation surely sounds all too complicated, because it actually is. But it is also true that digital transformation done the right way could lead to amazing results and greater success. So would you rather run away from it or approach it the right way?
Also read: How can SMEs adopt digital transformation?
Now that Halloween is here, surely you don't want turn your business into another horror story. So here are 6 things to remember to help you avoid digital transformation failure:
A 2016 report shows that 57% of organizations take longer than expected to implement their ERP systems, mainly because of unrealistic expectations. And to achieve digital transformation, it will require you to automate your entire business process which is not a one-time project, but an ongoing process. Considering the growth of your business when you start working with more customers, you will have more data and more resources. If you do not have a way to handle these increases, productivity, and efficiency, the quality of your service and products can suffer, which can lead to poor customer relations and a lowered business reputation, creating a domino effect.
As Benjamin Franklin puts it: “If you fail to plan, you are planning to fail.” Companies need to map all their business processes prior to implementation. You cannot just rely on your vendor to provide you a plan. You should create a short and long-term plan to guide your organization, your vendors and customers before implementing a system. Your digital transformation plan should be designed to make progress toward your objectives. Careful planning is required in regard to both the change management aspects and IT related technical aspects. This practical information is essential when designing and implementing a new process and system.
Don’t be afraid to turn your back on big companies. Many have done it which saved them a lot of time, money and effort. However, just because it is within your budget doesn’t mean it is also the right solution for you. As they say, different strokes for different folks. If you want something that fits your system, you may have to customize. You can’t expect a basic package to function like that of a premium product. It’s simple, standardized packages have standardized approaches. Digital transformation is not cheap as it comes with purchasing the right tools.
Also read: Decoding psychological pricing
The only thing that differentiates a successful versus failed digital transformation projects is the way in which risks were anticipated, handled and mitigated. Risks today don’t only pertain to cyber attacks and security threats. Thus, it’s important that you are able to uncover where digital risk exists within your organization. Find the gaps as the project unfolds as planned, you need to consider unwelcome surprises that can surface during the course of the project. So it is important to have an agreed working contingency plan to know what to do when these unwelcome surprises arise.
Having a timeline can most definitely keep you in check to ensure that everything is carried out as planned. It captures the core of what the project will accomplish, how it will be done and when. So if you are a large company, you cannot expect automate everything at once. It will take time. On the other hand if you are a small business owner, it will still take time. The important thing is that milestones and deliverables set is done when it is supposed to be done.
Also read: SMEs can take advantage of these 6 tools to increase employee productivity
In the end, it’s still about people - your most valuable asset. And in going digital, more than the technology, much of it will revolve around people - your people, your chosen vendors and customers. Don’t be caught in between satisfying everyone’s functionality needs and the need to keep things simple enough to ensure success. People will always have their doubts, but when they understand that the change is for the better and is committed, they can make the entire digital transformation process easy and successful.
Choosing the right software solution that works, fits your business processes, within the right budget, and brings together all company stakeholders is easier said than done. Don’t let your money, resources, time and even credibility go down the drain.
Don’t fret, you can go digital the right way with Kiu Business Management Platform (BMP)!
Kiu BMP is a platform like ERP, but without the complexity and high cost. Kiu BMP helps organizations to improve work processes, reduce work time and save more money as they take the path to digital transformation. Our cloud-based applications for sales, service, marketing, and more don’t require IT experts to set up or manage. Simply log in and start connecting to customers in a whole new way. Your data is secured and controlled only by you. Kiu BMP is designed as a "pay as you go" system —pay a subscription on a monthly, quarterly or yearly basis where you can select and pay for specific features and functions you need. Kiu BMP fits any business from a shop owner who needs an easy to use Point-of-Sale system to the multinational manufacturer.
Image source: shutterstock.com
To explore business opportunities, link with us by clicking on the 'Connect' button on our profile.
Disclaimer: This article is based solely on the inputs shared by the featured members. GlobalLinker does not necessarily endorse the views, opinions & facts stated by the members
Recommended articles for you
By Khyati Shah
By Yusoph Maute
Call center agent turned mompreneur starts business with P1,000, now supplies to major malls & local establishments in R7
Coupled with determination and flair in cooking, Hazel Asignar launched her food business, Ninang’s Kitchen, and started selling bagoong (sautéed shrimp paste) in 2017 with only a capital of P1,000 and has since made money out of it.
25 Mar 2020, 13:00
9 Mar 2020, 17:31