Presenting at the ALTO Professional Development and Networking Conference in Rome, AI specialist Verena Fink showed us possible ways to move our businesses towards Digitization from Analog operation without spending huge amounts of money but making sure our companies are streamlined and focused.
One of Verena’s starting statements was: Digitization is of not a question of “IF”, only a “WHEN” and encouraged participants to scan their organisations for digital readiness as a matter of urgency.
Either your competitors will kill you, or you will kill yourself, if you are not digital from inside out. You’ve got the energy, you’ve got the team, you’ve got the capability. Start transforming from inside out.
- Focus on Customer Data. If you use your data, you will start to improve your product in days and weeks rather than years.
- Transfer the concept of software and hardware to your business by thinking about digital products that fit nicely with your analog offerings.
- Take a look at design not just from a product design perspective but also from a digital design perspective: Is that something our customers will love? Will they see the value from it? And will they take action?
- When you think about your future plan think of how to grow your business exponentially. And how do you grow your business exponentially? It is impossible without digital!
8 Steps for Digital Transformation
1 Align on the WHY and define the business value of digital transformation
2 Prepare for the culture change
3 Go for a marathon, with many sprints built-in
4 Map out technology and data
5 Choose partners and experts to work with
6 Gather regular feedback
7 Scale and transform
8 Create a future work culture
Rather than thinking of one big digital project think of a lot of small projects running in your company. Think about how to get the whole team aligned to the WHY and then keep them on board for milestone and project planning. 95 percent of the success of digitalisation projects lies in implementation and only 5 percent in technology or strategy. For this, you need your team to have a clearly focused energy and direction.
A new era is here, tracking and focusing on customer behaviour, you need to develop a business model using digital technology and give your team superpowers to keep your organisation relevant.
If you are an ALTO member and would like to receive the presentation slides or watch Verena’s session, please contact Reka.