What is digital transformation beyond being a buzzword that is making the rounds in Sri Lankan business communities and the short lecture circuit. This term is causing great commotion in management circles not only because of its ambiguity, but also because of how relevant it is to the future of anyone’s business! The depth and breadth of digital transformation as a topic is such that only Tier 1 consultancies with astronomical charge-out rates identify as being experts on this – and in reality no one is! However, those firms are beyond the reach of many Sri Lankan businesses not only from a budgetary standpoint, but also from an effort view.
Digital transformation doesn’t refer to simply plugging in an enterprise system in place. It actually involves a whole lot more than that! This topic may combine processes, market studies, product or service roadmaps, and change initiatives over the course of years. You cannot simply be digitally transformed by a single initiative alone or by plugging in a few cool gizmos around an office or factory…
Transforming your business to face an ever changing technological and consumer landscape requires you to plan out what your business is about in terms of what you offer the market and try to see how that offering can evolve with digital tools and techniques.
Most often people assume digital is purely tech-tools however this is far from the truth. It can also encompass change management and business process improvement initiatives. The combination of these consultative approaches and the correct tools is what can ensure that digital transformations can have a successful outcome for your organization.
A significant issue underpinning any digital transformation efforts in Sri Lanka is the lack of appropriate and qualified talent to support such initiatives on company payrolls. Very few large firms are able to afford a Chief Digital Officer for instance and even then the role is bundled in with a more traditional day job! It makes little sense to hire digital agents when its likely those resources are either at one extreme of being too technical/digital or unable to connect with your organization’s true purpose. A strong understanding of business process improvement and various enterprise technologies are required in order to view, communicate and execute the digital journey here.
The impacts can be significant even with minor changes, however identifying the correct changes requires not only internal expertise, but also outside experience to catalyze the transformation. Often top management at many firms may find this a daunting task given the lack of knowledge around digital transformation. This leads to a serious risk of inaction or lack of decision making on the digital front leaving the door open for savvy competitors to chip away at margins and lucrative customer segments. Can any business owner afford that in this hyper-competitive landscape?
How can you kick off your digital transformation journey with confidence and purpose?
It is best to engage a consultancy who can advise you on your digital journey from the start. This allows your firm to leave out biases that may arise due to incumbent views and lack of experience both of which can cause a firm to spiral down the competitive ladder due to lack of timely decision making.
We welcome your inquiries and look forward to supporting your transformation into the digital age! Please call us at 0770415387 or email us at info@erpservices.lk