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Digital Transformation Trends for 2024
Digital transformation is expected to become the top strategic business priority for businesses in almost all industries. With 60% of CIOs and CTOs surveyed by IBM stating that their IT modernization program is not yet ready for the future, we see many accelerating their digital technology initiatives. Read below to find out how to achieve a smoother transition to digital transformation.
Getting out of one’s comfort zone is generally difficult and this is evident with businesses that continue to use legacy systems despite the availability of more flexible and efficient platforms. After all, they have invested considerable capital in these systems and continue to reap the benefits. However, with outdated software and obsolete technologies, these legacy systems are the first to create barriers to digital transformation. They are often slow and inflexible, making it more difficult to adapt to transitions and integrate with new technologies, and their vulnerability to security breaches is a concern.
Maintaining communication at all levels
A Gartner survey shows that 65% of decisions made today are more complex than those of previous years, as the decision-making process involves more options and more stakeholders. To enable good decision-making, you need to maintain transparent communication and ensure you get feedback from all stakeholders. This will help eliminate data silos and make business decisions more efficient.
Aligning digital transformation with business outcomes
One of the first steps to a successful digital shift is to align your initiatives you’re your business outcomes. Prioritize digital investments that impact specific objectives. Use results-driven criteria to determine where to allocate your budget and which programs to focus on. Create a unified strategy that reflects your business priorities.
Organizational change is a prerequisite for digital transformation
Organizational change can be difficult, but it is vital for digital transformation since this process entails significant changes in your company’s culture and people’s mindset. Start by assessing the cultural barriers to digital transformation. Then implement a change management strategy with a comprehensive and integrated road map. Keep in mind that change must start at the top. This is necessary to minimize resistance by employees.
Reinforce your security strategy
Achieving a secure digital transformation requires continuous improvements in cybersecurity. Make sure you have a proactive monitoring strategy to resolve issues before they turn into high-risk breaches. Apply patch management to identify vulnerabilities when using third-party applications. Cybersecurity strategy should be a key element of your transformation agenda. A reasonable budget will also be needed to implement effective security measures.