PLANNING FOR DIGITAL
TRANSFORMATION To meet the ever-evolving standard for customer experience, it’s important to accelerate your efforts wherever your company is in the journey | By Richard Huff
T
he term digital transformation is becoming something of a buzzword, but for many organizations this process is already well underway. The push to integrate digital technologies with business process has intensified in recent years due to a few driving factors — most notably, the COVID-19 pandemic and the rapid adoption of technologies to enable remote work, digitalization of services and virtual customer relationships. Supply chain issues have also spurred this 18
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transition, with constraints that include an industry driver shortage, higher shipping costs, and delays through major US ports. Combined with inflation and labor shortages in the wake of the Great Resignation, each of these factors has emphasized the need for organizations to leverage digital technologies as a means of streamlining, automating and reducing the costs of their processes. While the specific outcomes of digital transformation vary across organizations and industries, the Best Practices Assessments (BPAs) conducted at
Madison Advisors have identified a few key steps at the core of most successful transitions. The first of these steps is an assessment of organizational support when it comes to digital initiatives, particularly the level of buy-in and leadership that can be counted upon from the C-suite. Infrastructure is also a crucial consideration at this stage, as a successful digital transformation requires a consolidated line of business (LOB) budget under centralized IT. Once necessary structural changes are in place, it’s time to set measurable,