Digital transformation opens up a gap between the expectations created by your digital vision and the physical reality of what can be delivered to the people that keep your business alive; customers, shareholders, employees, and other stakeholders.

The gap between expectations and actual benefits of business transformation is different from organizations’ past experiences with transformation. The technologies are very disruptive.

Before diving into our today’s topic, I wanted to take a moment to acknowledge the feelings around the global COVID-19 or Corona Virus. To acknowledge our shared truth: It’s a stressful time. There’s uncertainty. There’s loss. There’s fear about the future. Let’s all focus on our families, our friends, our neighbors, and our communities. And follow to keep social distance as per WHO guidelines and work on social-learning through the remote tools available with us, remote meetup, events, virtual learning, etc.

There is a famous quote: “If you want something new, you have to stop doing something old.” 

You’ll Learn:

Digital Transformation

1. Digital transformation expectations vs. reality?
2. How as a brand will be managing the expectations of customers from this global Covid-19
3. Few Rules Will Help You Work More Productively at Home

Resources:

• Open Tech Talk Sessions on Digital Transformation:
  • 62- First 100 Days of Digital Transformation
  • 61- How to do Digital Maturity Assessment
  • 60- What is digital maturity and which digital maturity model to choose?
  • 59- Where to start in organization for Digital Transformation
  • 58- A leap from Information Technology to Business Technology
  • 57-Architecting an operating model for digital transformation
  • 56- A Digital Transformation Framework
  • 54-How to make a business case of Digital Transformation
  • 53- Human Resources and Digital transformation
  • 52- How you will know digital transformation is achieved
  • 51- Enterprise Architects for Success of Digital Transformation
  • 50- Is there an end to Digital Transformation?
  • 49-What is for ‘me’ in Digital Transformation? Part 2
  • 48- What is for ‘me’ in Digital Transformation? Part-1
  • 47-How to win at Digital Transformation
  • 46- Digital Transformation – it’s all about culture
  • 45- How to Overcome Digital Transformation Challenges
  • 44-What are the challenges in Digital Transformation
  • 43-What other Organization are doing to achieve digital transformation
  • 42-How do you start a Digital Transformation
  • 41-What are the benefits of Digital Transformation?
  • 40-Why Digital Transformation is required?
  • 39-“What is digital transformation? Learning the basics”
• WHO – Coronavirus disease (COVID-19) outbreak
• Unlocking success in digital transformation
• Researchers from Accenture on article published in HBR on The Two Big Reasons That Digital Transformations Fail
• Another article publishes on CNBC titles: The $900 billion reason GE, Ford and P&G failed at digital transformation
• World Economic Forum and Accenture
• 2019 Global Digital Transformation Benefits Report by Schneider Electric
• Companies that earn $1 billion a year earn an additional $700 million over three years by investing in customer experience. 
• 56% of CEOs say digital improvements have led to increased revenue.
• Digitally mature companies are 23% more profitable than their less mature peers.
• More than 50% of digital transformation efforts fizzled completely in 2018. 
• 39% of outperforming companies have a fully integrated digital-physical strategy.
• Digital-first companies are 64% more likely to achieve their business goals than their peers
• 70% of companies either have a digital transformation strategy in place or are working on one.
• 21% of companies think they’ve already completed digital transformation.
• 40% of all technology spending in 2019 will go towards digital transformation. 
• Companies will spend a total of more than $2 trillion on digital transformation in 2019.
• Most digital transformations are driven by growth opportunities, followed by increased competitive pressure and new regulatory standards.
• Executives say the top benefits of digital transformation are improved operational efficiency (40%), faster time to market (36%) and the ability to meet customer expectations (35%).
• 60% of companies that have undergone a digital transformation have created new business models.
• Just 19% of companies have a customer experience team that helps bridge gaps in the business. 
• Fewer than 30% of a company’s technology vendors are actively involved in their digital transformations.
• Of the $1.3 trillion spent on digital transformation in 2018, an estimated $900 billion was wasted when initiatives didn’t meet their goals. 
• 70% of digital transformations fail, most often due to resistance from employees.
• Digital transformation and a focus on customer experience can generate a 20-30% increase in customer satisfaction and economic gains of 20-50%.
• Only 16% of employees in one survey said their company’s digital transformations have improved performance and are sustainable long term.

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