How to achieve Lean Digital Transformation in 2023
With recession 2023 rumors swirling, the ability to deliver business value efficiently and predictably is more important than ever. The benefits of digital transformation can certainly deliver this value; however, the process of finding the right solutions that drive transformation costs time and resources. So how can you achieve the benefits of digital transformation efficiently? At Olive, we believe this is possible when you adopt a lean digital transformation strategy.
What is Lean Digital Transformation?
Lean is a term used to describe the strategic, tactical, and operational improvements that organizations undergo to create more value for their customers.
Originating from Japanese mobile manufacturing practices from the 1930s, lean digital transformation has been used in modern times to modernize and transform the world of work and management. Its set of principles includes minimizing waste and enabling more productive time.
The end objective of lean is to identify – and eliminate or change – any part of a process that does not add value. Lean also encourages the practice of continuous improvement and is based on the fundamental idea of respect for people.
Source: McKinsey, CIO, Futurum Via: www.finianceonline.com
Lean digital transformation has become synonymous with efficiency and predictability, making lean an attractive system for vast organizations and consultants when it comes to digital transformation.
Offering advantages such as operational improvements, enhanced customer experience, and increased employee engagement – lean offers a more efficient organization with larger growth and greater innovation.
Achieving Lean Digital Transformation
“Identify, eliminate or change – any part of a process that does not add value.”
To do this, we must acknowledge the challenges to achieving digital transformation success.
The Challenges of Digital Transformation
1. Change Management
A significant challenge that lean transformation presents is change management. Failure to communicate and rationalize digital transformation goals to stakeholders means you fail to align the team with your vision which causes an unfortunate ripple effect. By the time you’ve begun implementation on these solutions, resistance and resentment have festered, so staff buy-in and user adoption can become dangerously low.
Getting buy-in relies on a solid change management strategy. Communication has a huge impact on company morale. To have a successful digital transformation, you must have your team and stakeholders on board.
Pressure to transform adds to the risk of digital transformation failure and is considerably added to by the company size and industry. If you are in an older, more traditional traditional industry or have an enormous team and lengthy SOPs, you’re more likely to struggle. Oil, gas, automotive, infrastructure, and pharmaceuticals see success rates between 4% and 11%. Companies with 100 employees or less are nearly 3 times more likely to enjoy a successful digital transformation than companies with 50,000 employees.
Source: Finance Online Review for Business Via: www.finianceonline.com
2. The Requirements Gathering and Management Process
Understanding your business needs in the form of functional and non-functional requirements for the proposed solutions is a crucial step in the process of digital transformation. Yet the current process is long, expensive, and manual. To increase user adoption and manage change effectively, it’s crucial to ensure that identifying the business needs is a collaborative process between critical stakeholders.
“To achieve Lean Digital Transformation; “identify, eliminate or change – any part of the process that does not add value”
Finding solutions that drive digital transformation has traditionally been a long expensive process. Because of this, many organizations skip over or shortcut the process of comparing solutions to the collective needs of the organization.
Olive is a platform that can help organizations achieve lean digital transformation, by reducing time spent collaborating on requirements and evaluating solutions. Olive’s technology evaluation platform has helped organizations get to implementation 3x faster, by successfully eliminating parts of the process that do not add value, through data and automation.
Why Adopt a Lean Digital Transformation Strategy?
The benefits of successful digital transformation are multi-dimensional, including:
- Customer experience improvements: Lean enables quicker responses to changing customer demands and results in faster, more robust production, increased quality, and lower costs.
- Employee engagement increases: Lean is all about improving processes and eradicating unnecessary workflows. Employee engagement improves when teams are engaged in efficient and streamlined workloads.
- Business performance improvements: With digital solutions, companies can leverage new technologies, such as machine learning and predictive, to solve previously unsolvable business problems and reach new productivity frontiers.
- Increased Success and efficiency: Take IKEA, for example. The Swedish furniture company is one of the digital transformation examples showing how DX can change a traditional organization. Thanks to new technologies, IKEA is changing the shopping experience of its customers for the better and optimizing its costs in the process.
Source: PTC.com Via: www.finianceonline.com
Digital transformation is not a fad. It’s a vital change for organizations that want to be in business 10 years from now. Adopting a lean digital transformation strategy can help companies to weather the 2023 recession. Those who choose to transform strategically will prepare the organization for the demands of the future.
Finding Solutions that Drive Digital Transformation in Olive helps Achieve Lean Digital Transformation
Olive eliminates and changes the parts of the solution evaluation process that do not add business value. Using Olive encourages continuous improvement.
Lean transformation doesn’t happen in a vacuum. Nor is it a last minute top-down plan. It should be company-wide from the start. At Olive, we know that building collaboration into your digital transformation process from the get-go, results in higher user adoption down the line.
Olive was created to help companies achieve lean digital transformation. The platform includes multiple features to help transparent collaboration with key stakeholders. Olive’s customers see high user adoption results because they leverage our tools and services to work in ways that engage leaders, stakeholders and line employees regardless of your industry or business size. Giving your team an efficient voice through the platform improves buy-in.
Use Olive to survey your org and get to the bottom of what you are trying to achieve and why. Collaborate with department heads and key stakeholders to discover what their business needs and requirements are.
With Olive, you can check out various project requirements ahead of time in our rich requirements libraries. Easily gather stakeholder feedback through surveys and easily filter out vendors based on your requirements. Eliminate vendors who don’t meet your needs. Ensure the proposed solution is perfectly matched.