Business Success Through Digital Transformation

Business Success Through Digital Transformation

Better adaptability has been the key to survival in every field; in life and business.

History has full of stories of civilizations of those who have become extinct because they could not cope with the challenges of time.

And those who survived evolved and transformed.

The same is the need of the day.

Technology is reshaping business in various ways, and the overall concern is that companies without the latest technology adoption will soon be left behind.

This fear is not baseless.

“Digital is approaching a tipping point. Over the next five years, companies will begin to see the digital effect the majority of their revenues.”

With the adoption of the Global Free-Trade policy, the pressure to digitally transform the business is greater than ever before, but the transition from the traditional model doesn’t always deliver the benefits to the business as promised.

Digital transformation is part of every aware enterprise’s vision and mission to succeed in the 21st century.

It is not only about adopting the latest technology to make work easier but to produce & deliver and enable customer success at a rapid rate while enabling a productive workforce.

Let’s talk, how companies are evolving their businesses using technology to drive revenue and innovate at the point of the consumer.

Key takeaways:

1. Keeping Everything in One Screen

Managing a widely spread out team is a big challenge for project managers. Traditional systems don’t allow single-screen visibility of the happenings.

Digital transformation helps to keep all team associates on the same page-making things happen interactively.

Each team member knows exactly –what’s going on, what they need to do, and where their work is focused.

You can bring all your team and client dialogue about any task on a single page to avoid digging through long email threads.

A single page dashboard is enough to keep you up on daily events and progress.

2. Availing efficient and strategic communication

The modern digital technology is restructuring the project management cross-team communication process in a big way.

Traditional tools like email aren’t designed for real-time dialogue. To the team, these tools pose difficulty and unyielding when it comes to collaboration.

You won’t get important information easily, as they are hidden within endless email trails.

Whereas Collaborative work management software helps colleagues across departments to engage, connect, and interact in real-time, significantly cutting down on email muddle. This provides better insight and saves time to invest more in productive activities.

Aside from increasing the efficiency of intra-work communication, these smart technologies are developing their effectiveness as well.

As team members stay in the same digital platform, their attention on project strategy remains focused and more aligned with the shared objectives.

More man-hours are available for the workforce. Delivery can be done faster than expected.

You get more time to review work progress. Even surplus resources can be repurposed to support an increasing project pipeline.

3. Developing Collaboration within teams

Disruptive work management technologies are making it easier for teams to collaborate perfectly with the help of more strategy-focused communication.

Stakeholders, executives, decision-makers, and team members, all can organize dashboards,  add comments, assign tasks, check and approve assets, and take decisions just about everything else related to the project; all in one page.

Collaboration and transparency in exchanges eliminate conflicts-helps foster a cooperative, synergistic environment.

This inevitably leads to a greater sense of shared ownership from teammates and that, as they say, is where the magic happens.

When teams feel they are part of a collaborative effort they tend to show greater engagement & better efficiency.

Project team members take ownership and become committed to the task than ever before.

A committed worker hardly thinks of leaving the workspace for new pastures, ultimately again to the company.

4. Adding Automation to the Process

Digital transformation automates functionalities, enables seamless workflows and helps make the entire process more agile.

Task allocations get scheduled; which leverages Project managers to focus on strategy optimization and faster project delivery.

Agile follows an iterative process where projects are split into sprints of the shorter length. Less time is spent on upfront planning and prioritization as agile is more flexible in terms of changes and developments in the specification, unlike the traditional approach.

As more companies across every vertical and industry adopt digital transformation in their organization, project managers will be viewed more like strategists in their organizations.

As the process is automated, the focus will be on improved results and faster delivery times.

The project managers will align each project with their business’ strategies and goals with the help of smart tools. When managers get full visibility on all aspects of their projects, budget, resources, and traits—they can deliver more successful results in the process.

5. Guaranteeing Better Performance and ROI

Now digital tools are adding analytical technology to make data-driven decisions, break down patterns and trends to meet the latest demand in complex and big infrastructures. What is humanly not possible in the short term is being handled by AI and more intelligent tools.

With global spread out businesses, the C–suite can now monitor and predict project outcomes and success rates with better accuracy and confidence.

Access to deep data analytics will assist top executives and stakeholders to avoid pitfalls and make better-informed decisions quicker and easier than ever before.

Besides this, interactive analytic data help PMs to keep their projects on track and on budget with real-time cost and resource reports. In-depth data sets can also be easily broken down for making a better assessment of future activities.

The stakeholders and management can have precise insight into business impact and ROI on every project due to better risk assessment and mitigation plus avoiding known mistakes from prior projects.

Are you ready for digital transformation?

Don’t stop here, know more

With its new CEO, Microsoft began its digital transformation in 2014. In the last five years, growth has been phenomenal. Microsoft’s stock has increased by a whopping 258%.

And earlier this year, the company became just the third to get a $1 trillion market cap.

As it happens, companies wanting to remain competitive in the digital era and beyond are leveraging heavily into workflow technology and process automation — and transforming the role of the project manager in the process.

“Digital is the future of business. Every legacy company and any physical company every one of them has to be digitized. It’s a journey that must be done, not doing it is riskier than taking the risk of doing it.” Dr. Ram Charan.

Now it’s your turn; digitize and excel.

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