{"id":1035248,"date":"2023-04-11T21:28:23","date_gmt":"2023-04-12T04:28:23","guid":{"rendered":"https:\/\/customerthink.com\/?p=1035248"},"modified":"2023-04-11T21:28:23","modified_gmt":"2023-04-12T04:28:23","slug":"a-formula-for-a-winning-digital-transformation-journey-in-2023","status":"publish","type":"post","link":"https:\/\/customerthink.com\/a-formula-for-a-winning-digital-transformation-journey-in-2023\/","title":{"rendered":"A Formula For A Winning Digital Transformation Journey in 2023"},"content":{"rendered":"
Depending on the industry, “digital transformation” might signify many things. Delivering customer-facing mobile experiences may be a priority for certain businesses as they modernize their core systems to increase efficiency.<\/p>\n
A digital transformation journey, however, is a complex procedure with a beginning and an end. Instead, it’s a continual journey where IT leaders must constantly modify their business models, goods, and services to meet changing market demands, technological advancements, and customer expectations.<\/p>\n
With a conflict in Europe, supply chain disruptions, a cost management strategy, and an inevitable economic downturn, 2023 looks challenging. However, IT leaders must recognize their digital transformation and innovation plan and stay caught up to rivals and suffering severe effects from the recession.<\/p>\n
To assess if you’re making the correct investments, I’ll give views on what a successful digital transformation journey should entail in this blog post, considering the uncertainties the upcoming few months hold. I’ll also emphasize how utilizing the proper technology might enable you to succeed in the forthcoming cycle and meet your business objectives.<\/p>\n
The challenges to digital transformation are essentially the same regardless of their industry or their difficulties that year, whether it be a recession, a public health crisis, or a new disruptive technology like mobile or the cloud.<\/p>\n
IDC predicts that the 10% IT skills gap from 2021 will increase to 20% by 2025. Additionally, most top talent is taken up by innovative, elite software giants that can provide competitive pay and more alluring development jobs, leaving the “ordinary company” struggling to draw in and keep talent.<\/p>\n
Organizations are pressured to become “software producers” and provide clients with distinctive and differentiating goods, which strains their IT departments. And as we can see from the rising need for internal employee experiences, this trend only seems to worsen. In fact, according to Gartner, CEO’s strategic priorities for CX have been eclipsed by employee experiences.<\/p>\n
According to IDC, less than half of the legacy programs used in a company have been integrated with modern development tools, such as DevOps toolchains and integrated development environments. When businesses strive to innovate, they either integrate these outdated systems or create new programs, which may be tricky and expensive, adding to the technical debt.<\/p>\n
Genuine innovation is far from the relative safety of gradual and linear company improvement, which is why digital transformation is difficult. Organizations need help to embrace risk and the need for experimentation. This difficulty increases during periods of economic recession when C-suite leaders must be highly cautious about their investment decisions.<\/p>\n
It’s challenging to create enterprise-class apps. Modern application development often involves a variety of coding languages, development frameworks, and libraries that go in and out of fashion annually.<\/p>\n
It makes sense that so many businesses must catch up to digital disruptors and startups. Now, they must reduce expenses to deal with a potential recession. What can CIOs do in light of all these challenges, then? How are they to react?<\/p>\n
Using contemporary development techniques, such as low-code development platforms, organizations can help overcome the aforementioned obstacles.<\/p>\n
It’s vital to keep in mind, however, that not all low-code platforms are equally efficient or cover the same use cases, much like any other development tool. I recommend reading our post on the low-code market to understand it better.<\/p>\n
Digital transformation can signify many different things to various businesses. Any IT leader should now be able to see that the route toward a digital transformation will always depend on the organization’s demands and should begin with a clear description of objectives and goals.<\/p>\n
It involves more than just offering digital products and a straightforward technology plan; it is a continuous journey. Therefore, the performance of your company’s projects must be measured to ensure you’re on the correct road and investing wisely. Additionally, the measurement must go beyond the number of apps released.<\/p>\n
The approach offered by McKinsey to assist IT leaders in tracking the development of their digital transformation focuses on five metrics: revenue, profitability, market share, and efficiency.<\/p>\n
Let’s examine the above metrics to understand why no-code platforms are ideal partners for a successful digital transformation journey.<\/p>\n
The effectiveness of your digital strategy can be measured in part by the return on your digital investments. This involved assessing the contribution made by each digital effort as well as the effectiveness of all of them in achieving the strategic organizational objectives.<\/p>\n
The solution in this situation is to invest in the appropriate technology that enables you to develop your digital and innovation strategy while reducing costs.<\/p>\n
Reusability, one-click DevOps, and high code abstraction all help to maximize productivity.
\nTake away the difficulty of updating, altering, and managing apps.
\nAccelerate time to market and development.
\nBuild new applications.
\nBoost the organization’s efficiency and adaptability.<\/p>\n
Infrastructure and maintenance make up the majority of an IT department’s budget. If you only dedicate a small portion of your money to innovation, your digital transformation journey won’t advance.<\/p>\n
The fact that most firms are constrained by outdated, business-critical technology that is too expensive to update makes this a challenging problem. But that doesn’t need to be a barrier.<\/p>\n
More and more businesses are switching from monolithic systems, which limit their ability to adapt and innovate, to composable microservice architectures, which are simpler to manage and develop. In fact, more than 70% of major businesses will switch from a monolithic, single-vendor ERP strategy to a more inclusive composable strategy by 2025, according to Gartner.<\/p>\n