Organizations need to be able to streamline and align their processes and technology to unlock the power of information and data turning it into a competitive advantage for them. More broadly, technical solutions must be designed with the specific needs of the business and customers in mind or risk becoming a hinderance to growth and performance.
A 2018 survey from McKinsey showed that 80% of companies have undertaken ‘digital transformation’ projects in recent years with only 16% believing these projects improved performance and enabled long-term change.
What could be behind such a gap in expectation vs. reality? Many of these failures are due to organizational and process silos leading to a plethora of disjointed tools and technologies implemented to support transformation efforts. Technology by itself isn’t enough. Businesses need a shift in organizational thinking and approach.
In a recent article from CMS WiRE, it was stated that there are key operational challenges that prevent organizations from improving performance and obtaining their long-term goals.
- Reliance on old IT methods: Even though organizations have gone to modern technologies they continue to rely on outdated IT models and approaches.
- Fragmented IT governance: Many organizations have no IT governance strategies and often a disconnect or worse between IT and the business
- Process automation misalignment: There is lack of effective communication and understanding between the C-Suite and IT
These challenges cause organizations to get stuck in a state of digital suspension. If you can’t connect you can’t move forward. By aligning your IT and business strategies it can set you up on the path toward long-term success.
At Parrels Advisory we can help you turn technology into your advantage in a week by:
- Discovering New Savings
- Unlocking New Opportunities
- Accelerating Growth
- Empowering Better Decision-Making
- Saving You Time & Effort
It doesn’t have to be difficult. What’s needed is the knowledge and expertise to empower you to drive transformation forward. Parrels can help your organization focus on what really matters and get you where you need to be. If technology just isn’t living up to expectations or worse getting in the way of your business, let’s talk and we’ll show you how to get better peace of mind.
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Harmonization… I suggest 2 additional challenges to CBE’s list, 1) failure to align clock-speed; and 2) failure to rethink cultural assumptions, typically embodied in performance/reward systems. That is, the C-Suite, business units and IT typically have different “time mindsets” and assumptions about transformations. Friction among these stakeholders stalls improvements. To the second point, reward systems can unintentionally prevent the kind of collaboration across functions that is necessary for operational improvements.
Before launching an “transformation,” it’s worth gathering data and evaluating the organization’s human systems and readiness.