Lessons to be learnt from few failed digital transformations globally. Yes most of the digital transformations fail.
For many companies, it is “A race without any finish line.”Post-mortems reveal that there could be any of the 3 reasons below.

1. It’s not like waving a magic wand.
– Being over-optimistic in their expectations of time & scope.

2. Do it for people not for sake of.
– Treating fancy technologies above User and Data at execution.

3. Ready to drive two vehicles at once.
– Expecting to scrap the old system overnight seeing a new one.

Harvard Business Review suggests a 3 step path that can lead to maximum success on this journey. 🛣

1. Process Modernization
– Without changing any major process in the system, try to just digitize & automate.

2. Actual Transformation
– Align all functions and departments into the built system through the system itself.

3. Value Creation
– Create value from built system through forecast analytics or even new revenue streams.

It requires a high level of maturity to understand and implement these stages. Of-course, leadership at all levels is the key to ensure that there is a digital maturity across the organization as most of the times the journey is not linear. ✅