Should you wait for a complete plan before launching an IT initiative?

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Should you wait for a complete plan before launching an IT initiative?

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Information technology drives innovation and innovation is the path to business success. Business reform is having the same impact as steam did during the industrial revolution. Technology in business is a growing requirement. Over time, the business world is leaning more and more toward it, making it almost impossible to separate the two. Innovation begets business, and since technology is part of it, we can understand here that business needs technology to be sustained.

It can be said that the concept of business has always existed since the earliest days of man. Even if it only started with the simple barter system, a business would not be equivalent to what it is today without technological improvements. All major industries would fail catastrophically if technology were removed from the enterprise, because the preponderance of business operations and transactions somehow includes the use of technology.

The role of technology in business has generated tremendous growth in trade and commerce. Business ideas and models have been revolutionized as a result of the emergence of technology. Indeed, technology provided a new and better approach on how to run business. It offered a faster, more convenient and efficient way of conducting business transactions.

Companies of all sizes are continually looking for ways to increase their productivity, efficiency and performance. Typically, implementing new technologies can accomplish this. However, while the introduction of new technologies is crucial to running a successful business, how we want to add these technologies can make or break their fortunes.

An MIT Sloan Management Review study publishes that 63 % of executives feel the pace of technological innovation in their workplace is too slow, with the most cited barrier to digital transformation being a lack of seriousness. They also express that the benefits of newly implemented tools are poorly communicated. The need to continually increase productivity is often accompanied by pressure to find the right technology and combine it quickly.

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Here are some tips for getting the most out of your next technology deployment:

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No need to wait for a plan
Start by making quick wins
Conduct a digital audit of your company
Creating value
Adapt as they go along

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No need to wait for a plan

As a leader, you don't have to wait for an implementation plan because you know what you want to achieve. The idea or concept is clear in your mind as to what you want to gain from introducing technology into your organization. You want to stay competitive, reduce 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 see it all in advance, you may never start anything and be behind your competitors!

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Start by making quick wins

you know where you want to go and achieve, you can start by winning quick wins and learning where you can get the most bang for your buck fairly quickly. The idea is to know the exact areas from which you can get faster results by implementing IT and reap the benefits and ROI. This will build your confidence and encourage you to take more initiative.

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Conduct a digital audit of your company

many small business owners feel they are already effectively using digital technology because they have a website and a Facebook page. But there are many other ways to use digital technology to improve your business results. Conducting a digital audit will help you determine if your business is digital novice, digital active or digital advanced. A report entitled. The digital advantage: how digital leaders are outperforming their peers across industries " can provide adequate insight into this area. The report indicates that there is a notable financial benefit to adopting digital strategies and technologies, as well as reinventing processes and people to take advantage of the digital trends that are being introduced every day. The research divides the two types of areas of digital transformation, namely:

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invest in technology programs to change the way the business operates;

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Essentially describing the leadership skills needed to drive digital transformation in an organization.

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

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

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Companies that have implemented or tested many innovative digital applications - some generating value and some not. 

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This group prefers vision to innovation. While they understand the requirement for a strong digital vision, they have not yet fully accepted the ideology.

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These are the companies that are light years ahead of the rest. They not only understand how to increase value through digital transformation, but they also combine that with the right leadership, governance and culture to accelerate their work with digital technologies.

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The clear message from this study is that digerati companies are much more mature in both dimensions and far outperform their competitors. Research shows that Digerati are :

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

Simply put, digerati collaborate digital intensity and transformation intensity to achieve performance beyond what either dimension can generate on its own.

 

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Creating value

Communicate openly with employees, discuss the organizational benefits of the new process and describe what motivated the change. Address what could be at stake if the implementation fails, giving ownership to everyone collectively. Highlight the direct value of the new technologies to workers and trust them to be invested in their success. Value their feelings by taking the time to gather and respond to feedback.

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Adapt as they go along

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"Adapting to the way we work today while keeping the long-term vision in mind" is my personal mission and vision. As a leader, you don't need to know everything in advance, but the end goals need to be clearly defined and communicated to employees for an improved experience. 

The most visionary CEOs can stay ahead of not only their competitors, but also their customers. Anticipating needs and pivoting to meet consumers at precisely the right time is what separates the disruptors from the rest. You may not be able to rush straight to your computer and develop the code that changes the path of your business, but if you have a hunch that something needs to change, communicate your ideas to your team so they can match IT with the concept. Being honest with yourself and your technical limitations is the best way to ensure they won't be a barrier to your success. The more you are able to stick to your vision and take advantage of the digital expertise of the right people when necessary, the more complete a leader you will be. Always keep in mind that it's better to start sooner than to find out you've been left behind!!!

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Contact

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

Looking for a partner to build your future digital success? Don't hesitate, contact me.

Have an efficient week!

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