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How far along is your digital transformation project?
In Quebec, and elsewhere in Canada, we can observe a slowness on the part of organizations to undertake their digital transformation project. In Quebec, only 22% of corporations had begun a digital transformation plan in 2017[1]. Accordingly, 39% of Canadian SMEs have begun their digital transformation. Among these, only 3% have completely digitized their production process, 17% are still in the planning stages, and 42% have yet to take any steps in the move to digital[2]. How is this hesitancy explained?
Companies tend to be more focused on ways they could become increasingly digital, instead of first taking a step back and trying to understand the reasons and impetus behind their desire to transform. They’re definitely not embarking on change just for fun.
In parallel, we can observe that one reflex which leaders tend to have is to focus their transformation projects towards optimizing internal processes, rather than tying them to clear financial indicators and objectives.
This question, this soul-searching around digital transformation is directly tied to an organization’s strategic objectives as well as to the allocation of budgets dedicated to the transformation plan itself. The uncertainty around determining the rationale for a transformation also helps explain why so many heads of companies are hesitant to begin their transformations in earnest.
What if organizational leaders were able to examine these new technologies under a different angle?
And – what if companies could look at digital transformation with a fresh outlook? What if, instead of simply asking themselves how to head towards digital, we could focus more on how to enable all stakeholders in our ecosystem to live an experience?
Individuals at the core of Talsom’s know-how
At Talsom, we look at transformation under a different angle; the human angle. In an increasingly digital world where technology is placed front and center, consumers have increased access to all things, at all time. So much so, in fact, that their expectations are continually rising alongside the exponential pace of technological progress. In this new digital frontier, individuals expect a fluid and responsive experience in regard to their actions and interactions. Whether they’re a consumer, a client or an employee, they are constantly on the lookout for novel experiences to fulfill their expectations in every sphere of their lives.
Did you know that an increase in 5% of employee engagement leads to an increase of 3% in revenue? Or that an increase of 5% in customer retention leads to an increase of 30% in profit? (Bain&Company and Aon Hewitt)
How do we create unforgettable experiences for our employees, clients and consumers? Today, user experience is the strength and the disruptive element pushing organizations to continue to evolve and transform. Technology can be seen as both the origin of, and answer to, this experiential age. In order to offer an extraordinary experience to their key stakeholders, companies have no other choice but to break new ground on their own transformations. From here on out, they must see further ahead than a simple alignment of technology and strategy.
So, how do we go about creating this experience at every level?
[1] CEFRIO (2017). L’industrie 4.0, Enquête auprès des entreprises manufacturières du Québec. Récupéré de : https://cefrio.qc.ca/media/1033/enquete-2017-industrie40-enquete-entreprises-manufacturieres.pdf
[2] BDC (2017), Industrie 4.0 : la nouvelle révolution industrielle Les fabricants canadiens sont-ils prêts ? Récupéré de : https://bridgr.co/wp-content/uploads/2017/06/bdc-etude-manufacturing-fr.pdf