Sparity

Contact Us

Tag: Digital Transformation

3 Ways You Can Eliminate Silos to Accelerate Digital Transformation

To accelerate and gain the benefits of digital transformation, organizations must know how to eliminate the 4 primary types of silos: data, technology, content, and departmental. These silos can cause data security and regulatory compliance issues, reduced productivity, underutilized or inconsistent data, poor visibility, and lack of innovation. To eliminate these silos, organizations must create better collaboration across the organization, involve key business stakeholders in planning and strategy meetings, expose employees in every department to innovative solutions and ideas, and enforce an enforceable change management protocol. Implementing a well-organized change management plan from Day 1 of any new technology is critical, as it’s not just about the technology; it’s about the people. Digital transformation doesn’t have to be impossible, but it must be done wisely. To ensure success, businesses should create buy-in with a dedicated change management team or ambassadors, a clear communication plan, defined timelines/milestones, necessary training, and hands-on involvement. Additionally, they should evaluate their current tools and technology and identify what data and insights they seek. Finally, they should seek opinions from key stakeholders in the organization and ensure early adoption across the enterprise. Identifying and then eliminating silos allows businesses to meet goals, create efficiencies, grow smarter, and problem-solve faster. Source: inc

Accelerating Digital Transformation with an integrated hybrid multi-cloud strategy

The Hybrid Multi-Cloud strategy is a key enabler of digital transformation since it allows flexibility, Agility, inclusiveness, and sustainability. It enables enterprises to deploy workloads across different cloud environments in order to maximize return on investment while avoiding the risks associated with particular cloud environments. Hybrid Multi-cloud is a widely used cloud implementation technique that combines at least one private cloud and two or more public cloud architectures. Hybrid Multi-Cloud Architecture prevents vendor lock-in and achieves worldwide regulatory compliance. It also ensures cloud interoperability, agility, and adaptability. RESTful APIs, containers, and Kubernetes platforms have modernised legacy systems and boosted hybrid multi-cloud methods. Clouds are built differently due to their physical foundation components, functionality, features, pricing, cost models and policies. Various vendors offer integration and support for various platforms and frequently update the features they have to offer. So, the optimum fit depends on app metrics and workload needs. The Hybrid Multi-cloud infrastructure enables customers to maintain a flexible cloud environment that enables a combination of Scalability, Security, Portability, and cost savings without compromising the performance at the same time. It enables businesses to acquire SaaS, IaaS, and PaaS solutions that suit their custom needs and demands and better respond to future business scenarios. Larger organizations need to leverage developing technology to undertake POC, MVPs, and minimize time to market for production versions of their products by using cloud platform services, especially data-driven AI power services. A hybrid multi-Cloud allows firms go from CapEx (capital expenditure) to OpEx (operating expenditure) and work with the latest emerging technology solutions within days, unlike data centers, which take months. With a hybrid multi-cloud environment, you can simply access many cloud providers’ distinct digital platforms and solutions to public cloud market concerns. All things considered, adopting a multi-cloud strategy can hasten your cloud-led digital transformation. Source: dqindia 🔥 Trending Stories 14 Tech Leaders Offer Their Best Pieces of Advice to New Entrepreneurs Ultimate Guide For Hiring On-demand Developers For Your Startup Top 25 Digital Transformation Influencers You Need to Follow  

3 Stages of a Successful Digital Transformation

The majority of attempts at digital transformations are unsuccessful. Yet, digital transformation has been at the forefront of businesses’ minds for at least a decade, and its momentum shows no signs of slowing down. The three main reasons why digital transformations fail are over-optimistic expectations, poor execution, and the pace of leading and managing the transition between the old and the new. To succeed at digital transformation, senior business leaders must be aware of the three main stages of the digital learning curve. The objectives of the first two phases, modernization and enterprise-wide transformation, are to reshape the existing business. The third phase stage focuses on the development of new commercial endeavors and the identification of untapped potential. It is crucial to avoid proceeding to phases 2 and 3 before completing phase 1, since this can result in failure. Modernization (phase 1) is about simplifying and digitizing existing processes and functions. It may involve automating HR procedures or providing a self-service platform for workers, as well as building apps for customers or introducing new self-service contact points, linking products, or re-engineering fundamental procedures. This phase is frequently underappreciated or despised, yet it strengthens and improves the organization’s digital capabilities, and it offers immediate returns that can support more sophisticated digital initiatives. Enterprise-wide transformation (phase 2) requires extensive work to be done across multiple value chains where traditional organizational silos must be aligned, appropriate governance models established, new talents needs to be added, and a culture of continual learning and re-skilling must be established. Although its primary purpose is to enhance already existing activities, it can also create new value by allowing businesses to access previously untapped markets or improve the efficiency of existing processes. Transformations at the enterprise level are cross-functional and complicated, but they are necessary stepping stones on the road to digital-transformation maturity. New business creation (third phase), new businesses are created with the goal of expanding existing markets or establishing new sources of income. For businesses to thrive in the age of the customer, it’s imperative that they transition their focus from traditional product-based i.e.one-time sales to more dynamic recurring revenue streams like subscriptions. Transitioning from the current model of operations to new ones is fundamental to operations. These alterations challenge the organization’s existing processes, structures, and capabilities and necessitate new methods of operation. Leadership is essential, as this phase also requires redefining the organization’s boundaries as it transitions from linear supply chains to ecosystems. As a result of the nonlinear nature of these three stages of digital transformation, most companies will oversee a portfolio of initiatives that may encompass all three. It is unusual, however, to discover examples of digital leaders in established businesses who have skipped these steps. The key to a successful digital transformation is to take one step at a time and devote the necessary resources to ensure that the transition is completed successfully. An organization’s chances of success can be improved by climbing the digital transformation corporate learning curve and increasing the maturity of its digital infrastructure. Source: hbr 🔥 Trending Stories 14 Tech Leaders Offer Their Best Pieces of Advice to New Entrepreneurs Ultimate Guide For Hiring On-demand Developers For Your Startup Top 25 Digital Transformation Influencers You Need to Follow

AI success is being limited by poor digital transformation

The success of AI is hampered by insufficient digital transformation, which necessitates rethinking processes and organizational structure to derive maximum value from the technology framework. According to a 2020 study conducted by Boston Consulting Group, 70% of digital transformation projects fall short of their objectives, even when priorities are well defined and leadership is aligned. Factors that lead to failed digital transformation initiatives include identifying the right problems to solve that leads to design of incorrect approach and faulty transformation roadmap that act as a bottleneck for AI success, lack of an overarching data strategy that risk investing in improper tech stacks, lack of integration across verticals and units, and siloed projects that lead to duplicate efforts and wasted resources, as well as employee resistance to change. Additionally, the lack of CoEs and best practices, proper frameworks and approaches, poor execution due to lack of cross-pollination and coordination, and absence of a human-centric, digital-first culture, all these hinder success of AI initiatives. To overcome these obstacles, enterprises must create AI systems that are interconnected across the enterprise, similar to a mesh or fabric, and implement a scalable architecture across the enterprise. This will help the company to take full advantage of the benefits AI can offer and slowly change their business for long-term growth by establishing a solid AI foundation with tools and processes that handle the complete discover-to-implementation cycle. Modular AI architectures offers flexibility and enable the customization of AI solutions to unique business requirements. Holistic AI architecture offers a comprehensive picture of the business and a deeper comprehension of how AI may be implemented in all domains. Scalable data fabric makes sure that it connects to all of the microservices or services in an organization. De-risk AI to handle reputational and performance risks. Agile AI architecture is critical for businesses that must respond rapidly to shifting market conditions and client demands. Agile methodologies have been acknowledged for their ability to enhance teamwork, eliminate silos, and empower decision-making and project management. Like a fabric and mesh, AI must be integrated into all business areas to achieve digital transformation. This will fundamentally transform how the firm runs and provides value to customers. Businesses need to grasp digital transformation to take advantage of its opportunities by breaking down siloed procedures that prevent AI integration and powerful digital transformation Source: Venture beat 🔥 Trending Stories 14 Tech Leaders Offer Their Best Pieces of Advice to New Entrepreneurs Ultimate Guide For Hiring On-demand Developers For Your Startup Top 25 Digital Transformation Influencers You Need to Follow

Digital Transformation in Healthcare 2022: Trends, Challenges & Solutions

Introduction Digital transformation is driving radical changes, massive improvements, and innovation across majority of industries, and healthcare is no exception. Today, digital transformation is viewed as a highly effective strategy by leading healthcare organizations to become more consumer-friendly while also transforming their operations, culture, and approach to the application of technology. Some of the biggest challenges that the healthcare industry is facing around the world include enhancing consumer satisfaction and engagement; improving quality and access to healthcare; and keeping costs in check as populations grow and life expectancy rises. Pius S. Hornstein in an interview with McKinsey & Company talking about Sanofi’s work on digital health, said every aspect of our everyday life is undergoing rapid and fundamental change as a result of digital technology. Product led growth is the future of marketing Barrett. We used the same strategy with our SaaS tools. We initially offered them for free which created a ton of SEO traffic. We leveraged free users for feedback and product improvement. Then we added in a layer of monetization! Product-led growth (PLG) entails optimizing your product so that it can generate self-service sales, provide consumers with rapid value, and persuade them to switch from being freemium or trial users to paying customers. To be successful, your PLG technology stack must make it simple to collect quantitative and qualitative product usage data so that you and your teams are always aware of what’s happening with the product and where the best growth possibilities are. Product-led growth tools offer start-ups and other businesses the kind of scalable functionality they need to add value as they grow. Your business can more quickly carve out its own niche in the market by understanding these tools and the product-led strategy in general. Are you developing a product-led growth strategy for your business? Are you unsure of which product-led growth tools to employ? There is no better approach to building a SaaS business than by leveraging the product as the primary driver. You’ll need some specialized tools, though, to effectively implement a product-led growth strategy. However, it can be confusing to know which choices to make when there are so many available. This blog post discusses the top 10 must-use product-led growth tools in 2023 that businesses need to adopt in order to aid in their product-led growth journey. Before getting started with a list of product-led growth tools, let us look at what product-led growth is. What is product-led growth? Product-driven growth is not merely a passing fad; it is the future of global business. And that future has here. Instead of relying on sales tactics or marketing magic to steer expansion, making the product the focal point of your business allows all of your employees, regardless of role or specialty, to work together as one unified unit based on the real product being offered to customers. This growth strategy employs the product itself as the most effective bargaining tool for acquiring long-term client loyalty and dependable revenue over time. Product-let growth strategy highlights the importance of answering the questions of why people should buy your product and how they will find out about it. Rather than depending solely on exclusivity, this strategy utilizes the power of a superior user experience to attract more users and increase sales. The experience people enjoy with your product should result in its quick spread via word of mouth, producing a strong snowball effect. To ensure the success of your strategy, product-led growth tools must be selected as early as feasible during the product’s design process. Why do you need product-led growth tools? Getting individuals to test your product is insufficient. After they have signed up, you must ensure that they have a positive user experience and recognize the value of your product. You may be wondering, “Why do I even need a product-led growth tool?” There are a few scenarios in which you might require one: Astasia Myers, Founding Partner at Quiet Capital, tweets about the importance of adopting PLG tools for business. Leveraging product-led growth #PLG means adopting the right GTM tools. Traditional #CRMs don’t cut it because they aren’t product usage/journey-oriented. Reverse #ETL tries to help pipe product usage data into legacy systems to solve for PLG. Teams deserve a better #PLG CRM. — Astasia Myers (@AstasiaMyers) April 13, 2021 Must-have characteristics of product-led growth tools Prior to settling on a product-led growth tool, it’s important to bear in mind a standard set of capabilities that should be present in every viable option. If not, you won’t be able to effectively create in-app guides, product tours, and more that assist businesses in creating effective users experience value. Consider these criteria when selecting a product-led growth tool: Setup clear objective Start by establishing specific objectives. What do you hope to accomplish with each tool? Each product should contribute in some way to the PLG strategy. If it is not part of your strategy, you are employing it for the sake of it. User interface Ensure that the tool you use does not restrict access to fundamental UI patterns and guidelines on the beginner plans. Checklists, modal design, tooltips, banners, and hotspots are the most significant for executing a product-driven strategy. Collaborate on common tools It’s easy to slip into the trap of having separate teams use different tools. Whether teams work in silos or you haven’t looked at a tool’s features, it’s easy to end up paying for more than one tool that does the same thing. Stop overcomplicating your company processes. Bring together all teams to determine the most effective tools for everyone. Balanced tool stack You should be able to maintain a balanced tool stack over the entire lifecycle. You shouldn’t employ too many tools during the onboarding phase and forget about engagement or conversion. Ensure that the tools you use facilitate both your work and the user experience for your consumers. Consider acquiring segmentation capabilities based on in-app behavior and interaction with in-app experiences so that you can customize

Social media & sharing icons powered by UltimatelySocial