Mar 20, 2018

Going digital and FAST

Changing the executive mindset is job one

Once you've accepted the need to go digital and the rest of your executive team is on board, you're going to face the following questions:

How do we get there? How do we do it quickly? How do we mitigate risks?

The first step is to alter the mindsets of your executives. We've broken down the different areas that must change for your firm to fully accept and adopt digital.

Digital has changed mindsets

  • Strategy: Efficiency is still a factor, but innovation becomes key if you want to ensure that you stay a leader in your space.
  • Culture: Traditionally organizations consisted of different departments, which created data and information silos and hindered the sharing of ideas. Changing from a hierarchy to a collaborative environment encourages creativity.
  • Talent: A global study from IDT, which surveyed 81 executives, found that only 17 percent of respondents had enough employees with the right skills to embark on a smooth digital transformation. Organizations must find — and keep — employees with high skill sets instead of focusing on keeping salaries low.
  • Technology: Too often technology is either old or legacy. You must replace it with newer technology, such as cloud, mobile and apps, in order to perform.
  • User experience: as we discussed in Part 1: Not what, but why digital transformation?, users will abandon your business and services if they have a bad customer experience. A “who cares?" mindset must be replaced with a mission-critical one. The experience must delight at every touchpoint, including your website and mobile app.