Key factors for Digital Transformation success #1
In this series of articles, we are going to explore some of the key factors that can help ensure the successful implementation of major transformation programmes, especially when these involve bringing new technologies into large organisations.
As many are no doubt aware, the possibilities for large scale transformation programme failures are numerous and very real. There are ample headlines around large scale failures where 10s if not 100s of millions of dollars/euros/pounds are wasted in failed projects that can become albatrosses around the necks of senior leadership teams. These failures can end in undermining or even destroying trust with the public or losing a private enterprise enormous revenue streams that can be extremely costly to rebuild.
Ensuring that when any organisation embarks on a major change programme, having the right components can help to ensure the success of any such project.
The right budget for the right job
Possibly the most obvious point with any major change programme, but so frequently a problem – incorrect budgeting will certainly damage its reputation and consequently the buy in and impact of any programme.
Some digital transformations run into difficulties because costs rocket while savings or revenue growth take longer than expected. These sorts of problems can start to erode trust and buy in to such programmes – impacting the long-term effectiveness that it should have.
Smarter organisations start by targeting quick wins, and appropriately scoped iterative implementation, to unlock value or have a visible impact for the intended stakeholders – senior leadership, staff, government, customers or the general public – so that the effort may be able to fund itself in certain instances or that the impact is seen to demonstrate real positive impact from its very outset.
Banking these savings or having a highly visible impact early on can help demonstrate the real value of any such programme to all key audiences. Should the programme run into some financial difficulty down the track then the early value demonstrated should help buy some goodwill down the line.
Often these opportunities can be identified as early as a week into a project. Evaluating the key stakeholder impacts is a good place to start. This becomes even more important as we look to understand the true impact of COVID-19, the alignment of reducing budgets, with an overriding desire to deliver value.
At Digilanti we bring decades of major transformation implementations to bear, utilising innovative and often disruptive technologies. Through our STEP model the groundwork we put in in the early phase of any major programme is key to help ensure that it is correctly sized and budgeted. As the programme matures, with an agile method and iterative working, we look to ensure budgets can be managed effectively throughout its lifetime and beyond.