There’s digital transformation… and then there’s digital innovation.
There’s no question that going digital has its benefits, and usually these benefits are realized in terms of improved productivity and a greater overall return on investment (ROI). However, there’s a key difference between transformation and innovation, with the latter taking digital transformation efforts one step further in terms of establishing a competitive advantage. In this post, we’ll take a closer look at why digital innovation should always be at the forefront of any entity’s efforts to change – especially when it comes to digital transformation.
Don’t Let Innovation be an Afterthought
You’ve likely heard the old adage about how technology tends to change very quickly, yet businesses tend to adapt rather slowly. Hence, any digital transformation always tends to be more of a challenge for leadership to implement than it is for employees to understand from a technical standpoint. In fact, per a study by Deloitte, about 95 percent of the executives polled indicated that digital transformation should be a top priority for their firms. But at the same time, only about half of those polled indicated that they’re pursuing the innovative technologies that can truly be the disruptive force of change that they’re looking for.
The bottom line is that while innovation certainly comes with a risk, it shouldn’t be an afterthought, as it’s where the biggest ROI tends to derive from. It’s also what’s more likely to establish a true competitive advantage for any company in the industry they’re living in.
Take Transformation One Step Further
So how do you go about transforming and innovating your current operations? Start by taking an audit of how it could play out in your company. Examine your current processes and explore how they can be digitized and automated to streamline operations, and increase efficiency and productivity. But don’t stop there – take these transformative efforts a step further by essentially revolutionizing them. Like we said above, doing so is going to come with a risk – but if it’s done correctly, it’s also going to come with a hefty reward. At Anvl, we’re here to help you realize the true potential of becoming a digital innovator.
How to Digitally Innovate
Digital innovation is easier said than done. In order to successfully implement such a strategy, there’s a roadmap that you need to follow. Here’s a closer look at some of the boxes that you’ll need to check off:
Be Ready to Change
Like we said in the opening, change comes from the top – and many leadership teams are hesitant to embrace new concepts and technologies. There’s a good reason for this: Change is hard. But what can be even harder is losing your competitive edge in the market and losing relevance. So in order to digitally innovate, you’ll first need to demonstrate the benefits of doing so to any leadership team (not to mention the hazards of failing to change and adapt).
Craft a Plan
Innovation is often an abstract idea. Hence, you should strive to map out what digital transformation and innovation would look like in your organization. No two organizations are the same, so it’s important to be specific. Establish specific goals and explain how you plan to meet them. Make sure when you’re presenting anything to leadership, that they’re clear on what the process will look like and when your organization can start realizing the benefits of innovation.
Prepare for a Cultural Paradigm Shift
Don’t work in silos as you’re digitally transforming your company, as that can lead to a rift between departments and team members. Communicate openly about what’s going on and make sure that all staff members are aware of what you’re doing and the benefits of doing so. This will ideally create greater buy-in and have everyone working aligned toward a common goal. This ultimately will shift company culture from a focus on productivity or ROI to something much more revolutionary and competitive.
Think Long-Term
Finally, any strategy should not be a short-term one. While establishing short-term goals are certainly important, digital innovation needs to be a sustainable strategy for long-term success. And while any strategy is important to update and refine, you don’t want to continuously have to change it up to resolve mistakes or fix issues that weren’t originally accounted for.
Contact Anvl Today
At Anvl, we work to support your long-term digital innovation strategy. We’ll do a deep dive into your business and develop comprehensive, end-to-end solutions to help realize the results that you’re striving for – and we’ll do it with an approach and on a timeline that meets your needs. As the 2020 Mira Innovation of the Year Award winner and a nominee and finalists for several more notable innovation recognitions, our experts are fully equipped to kickstart your digital innovation goals. Contact Anvl today for more information.
