Digital Transformation requires a hybrid outlook, blending talent with technology to power growth.

Firms are facing new challenges due to the post pandemic business landscape, with the firms that can harness a digital advantage dominating and others requiring true digital transformation to compete.

Why digital?

The covid-19 pandemic has changed the business landscape irrevocably. Via newer constraints on interactions and a greater emphasis on streamlined and digital systems are needed for organizations to keep up and stay relevant against their competitors.

Covid-19 however, is not the source, nor the reason for digital transformations to be needed, rather it has been the catalyst. Partly pushed on by cultural shifts, as organizations have had to adopt new ways of working and consumers demands have changed. As talent and working teams now demand more flexible digital and physical working styles, organisations need to embed digital systems to allow for the same if not greater workflow.

These new systems aim to establish new ways of working that tap into newer culture shifts, combining them with technology to create hybrid systems that can work anytime from anywhere. Yet, most firms are behind in solidifying their digital systems and have a lot of work ahead of them.

With the greatest risk stemming from competitors and not meeting newer talent and consumer standards. True digital transformation requires organizational culture shifts.

Digital transformation drivers

Digital transformation drivers are vital for establishing the successful adoption of digital tools and/or systems within an organisation. These drivers are the changes made to an organizations digital infrastructure that allow for digital transformation to take place. Notability, digital changes are best adopted when they are incremental in nature, culturally aligned and cost effective.

That means focusing on outcomes: new products, improved processes, new implementations of current resources, refreshed outlook of capabilities and post transformation culture. How these changes become manifested is by blending the human and machine capabilities to generate greater abilities than before. The rational is to combine an organizations personality which stems from its culture and talent with AI to increase efficiency, output, sustainability, and capacities without losing its identity.

However, it is imperative to embrace digitalization as soon as possible as it is not too late to become a market leader especially when only the minority has a set infrastructure in place.

The secret to success

The search for digital transformation is underpinned by one’s ability to breakdown the pillars of success. These elements encompass developing an understanding of a company’s goals, internal elements, external elements, and a core focus on its talent.

Stages of exploration for digital transformation

1. Primarily, it is fundamental that organizations clearly outline their future aims, goals and envision where they want to be. Hence, developing a perspective of which to frame their digital transformation.

2. By investigating internal elements including culture, governance and organizational capabilities will provide a realistic sense of how new digital tools will be received with an organization. Presenting the possible challenges, benefits from new systems and how the ways of working will change.

3. Whereas external elements refer to industry trends, marketplace disruptions, and wider cultural shifts. Unlocking a greater perspective of how outside forces can impact an organization.

4. Lastly, the core focus should be on the talent. They work within the new systems, operate the looks and are the ones expected to enhance the capabilities of digital assets with human ingenuity.

These stages are impactful as they aid in pinpointing how the use of new digital tools can together with talent create new value. Acting as a value driver for clients, working systems, and for governance models. True digital transformation requires a working culture that is flexible, agile, and modern. This stems from the need to have talent working with digital tools to extend their abilities, meaning, the tools need to be a natural extension of the working systems to be best adopted. It is by leveraging the information discovered within the stages of exploration with the aim to innovate and internalize new findings that digital transformations lead to organizational growth. Moreover, the use of information to activate internal company resources such as talent, AI and digital systems leads to the creation of new digital tools that an organization can effectively utilize to gain a business advantage.

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Finsys Approach

To best guide are clients through their digital transformations Finsys has outlined a methodology for breaking down the process with some key takeaways.

Most importantly the company culture must be agile enough to not just adapt to but to fully embraces new digital tools. Where new tools must help clients combine their digital transformation with their goals to generate the best outcome. Driven by managements skill at embedding its talent with set digital tools slowly overtime in always the talent understands to be helpful to them.

This approach has been created to connect organizational elements to find harmony with pre-existing working systems. Achieving this is through the fundamental focus on developing talent and management to be ready and able to take advantage of new digital tools and ways of working. It’s about understanding the client, making the client understand what digital transformation is and what they want from it as to best gain the most from it. Our approach is focused, understand the process, the client and culturally blends with technology.