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Should you wait for a complete plan to kick-start an IT initiative?

Should you wait for a complete plan to kick-start an IT initiative?

Information technology stimulates innovation, and innovation is the path to business success. Reform in business has the same impact that steam had during the industrial revolution. Technology in business is a growing requirement. As the time goes by, the business world is inclining more and more toward it, making it almost impossible to segregate the two from each other. Innovation breeds business, and since technology makes way for it, it can be gathered here that business requires technology to be sustained.

One can say that the concept of business has always subsisted since the early times of man. Even though it only started with the simple barter system, a business would not be equivalent as it is today without the improvements in technology. All the major industries would fall into a catastrophic failure if one were to take away technology from the business since the preponderance of business operations and transactions somehow include the use of technology.

The role of technology in business generated tremendous growth in trade and commerce. Business ideas and models were revolutionized as a result of the inception of technology. This is because technology furnished a new and better approach on how to go about with business. It offered a faster, more convenient, and more efficient way of performing business transactions.

No matter what size, businesses are continually looking to increase productivity, efficiency, and performance. Typically, the implementation of new technology can achieve that. However, while introducing new technologies is crucial in running a successful company, how we want to add those technologies can make or break their fortune.

A study at MIT Sloan Management Review publishes that 63% of managers believe the pace of technological innovation in their workplaces is too slow, with the most quoted obstacle for digital transformation being a lack of seriousness. They also express that the benefits of newly interjected tools are poorly communicated. With the need to continually increase productivity often comes the pressure to find the right technology and to have it mixed promptly.

Here are a few tips for getting the most out of your next technology rollout:

No Need to wait for a plan
Start by making quick wins
Conducting a digital audit of your business
Build value
Adapting as they move forward

No Need to wait for a plan

As a leader you don’t have to wait for a plan of implementation because you know what you want to achieve. The idea or concept is clear in your mind as to what you want to gain with the introduction of technology in your organization. You want to stay competitive, save costs, be more efficient, hire quality employees, improve your customer experience—and you want to achieve all of this via the implementation of an IT initiative. If you wait to scope everything up front, then you may never start anything and will be behind your competitors!

Start by making quick wins

You know where you want to go and achieve, you can start by making QUICK WINS and learn where you can get the Best bang for the buck fairly quickly. The idea is to know the exact areas from where you can get faster result by implementing IT and reaping the benefits and ROI. This will boost your confidence and make you take more initiatives.

Conducting a digital audit of your business 

Many small business owners believe that they are already using digital technology effectively, because they have a website and Facebook page. But there are many more ways to use digital technology to improve your business outcomes. Conducting a digital audit will help you work out whether your business is a digital novice, digitally active or digitally advanced. A report, titled “The Digital Advantage: How digital leaders outperform their peers in every industry” can shed proper light on this area. The report states that there is a noteworthy financial benefit from adopting digital strategies, technologies as well as reinventing processes and people to take advantage of the digital trends that are being introduced with each passing day. The research divides the two types of digital transformation areas, namely

Digital intensity

Making an investment in technology-enabled programs to change how the company operates

Transformation management intensity

Basically describing the leadership competences required to drive digital transformation in an organization.

 However, the most interesting part of the analysis can be stated as dividing the two kinds of digital transformation into 4 types of digital maturity:

Beginners

Those companies who are far behind in adopting the advanced digital capabilities, but may be using legacy systems such as ERP or e-commerce.

Fashionistas

Companies who have implemented or trialled with many innovative digital applications – some generating value and others not.

Conservatives

This particular sect favours farsightedness over innovation. While they comprehend the requirement for a strong digital vision, they are yet to totally accept the ideology.

Digerati

These are the companies who are lightyears ahead from the rest. They not only understand how to enhance value with digital transformation, but they also combine this with the correct leadership, governance and culture to fast-track their work with digital technologies.

The clear message being imparted by this study is that digerati firms are far more matured in both dimensions and far outperform their competitors. The research shows that Digerati are:

  • 26% more profitable than their peers
  • Produce 9% more revenue through their employees and physical assets
  • Create 12% higher market valuation ratios

Simply put, digerati collaborate digital intensity and transformation intensity to attain performance that is greater than either dimension can generate on their own.

 

Assemble a team that has the proper skills

Communicate openly with employees, converse to the organizational benefits of the new process, and describe what motivated the change. Address what could be at stake if the implementation blunders, giving possession to everyone collectively. Highlight the direct value of new technology for workers and trust them to become invested in its success. Value their feelings by taking the time to collect and address feedback.

Adapting as they move forward

Adapting to the way the work today while keeping the long term vision in mind,” is my personal mission and vision. As a leader you do not need to know everything upfront but end goals must be clearly defined and communicated with the employees for enhanced experience.

The most visionary CEOs can stay steps ahead of not just their competitors, but their customers as well. Anticipating needs and pivoting to meet consumers at precisely the right moment is what separates the disruptors from the also-rans. You may not be able to rush right to your computer and hammer out the code that changes your company’s path, but if you have the intuition that something should change, communicate your ideas to your team so they can match the IT with the concept. Being honest with yourself and your technical limitations is the best way to ensure that they won’t be a hindrance to your success. The more you’re able to stick to your vision and pepper in digital expertise from the right people where necessary, the complete leader you’ll be. Always keep it in mind that it is better to start sooner than finding out that you have been left behind!!!

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If you need help, I am here for you to answer your questions.

Are you looking for a partner to build your future digital success? Do not hesitate, contact me.

Until next time. Have an effective week!

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