3) Transformation fatigue
Businesses make great initial transformation strides with process mining, automation, data lakes, AI, and machine learning. But before you know it, you've hit fatigue.
Transformation can progress slowly in-house. Digital enablement is gradual. You painstakingly consolidate systems, standardize processes, and help people adapt to change. But when the performance needle doesn't move straight away, momentum and motivation start to dip.
Consider widening your business ecosystem, working with partners to enhance capabilities without the heavy lifting, and adopting cloud-based solutions such as finance-as-a-service to quickly get to where you want to go.