20 Feb, 2018

How To Prioritize Your Digital Transformation Needs

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Digital transformation has the ability to change the way businesses operate, pushing them towards a more strategic landscape full of opportunity found through new technology.

Regardless of industry, market, and geography, nearly every business on the globe has been touched by
technological change. And these ongoing, and often unexpected, disruptions are impacting how business is
conducted. For example, the World Economic Forum states, “It used to take Fortune 500 companies an average
of 20 years to reach a billion dollar valuation; today’s digital start-ups are getting there in four.”  Infor reports.

As a business professional, the idea of digital transformation may be overwhelming. I mean, as the old saying goes, if it ain’t broke, don’t fix it, right? Well, that is the mindset that many professionals have, which makes the adoption of new tools seem out of reach and nearly impossible to integrate. So, when you first begin your digital transformation journey, you may have some questions that need to be met before making any real business decisions in the sector.

Start With Your Mindset

Banishing the mindset that belongs to a more traditional approach is the first step to creating a digital transformation. You can shift your mindset by following some simple steps (we wrote about this topic last week, in case you missed it, you can find it here.)

Once you have a new and improved mindset that is equipped to handle digital transformation, you can then begin to explore how to prioritize your technology needs.This means getting to the heart of your business to really understand what is the most important priority and how you can effectively execute it by using the latest digital transformation tools.

“As most digitally empowered business leaders know, digital transformation is about far more than simply adopting new technologies. Rather, it requires identifying areas in which digital change can improve operational efficiency and enhance the customer experience, having a measurable positive impact on an organization’s bottom line.” Keith Krach reports.

Understand Business Objectives

The first step to adapting to digital transformation is understanding the objectives you have in your business. This means figuring out the goals and the needs your business has. Once you figure this out, you can fully understand exactly what changes need to be made. For example, if your business struggles with reaching your customer in an engaging way, you can adopt new technology like big data in order to understand your customer more effectively, and not to mention, in an agile way.

Along with customer engagement, you may be interested in employee satisfaction, and creating a working environment that tolerates digital transformation change. Starting with one main collaborator can be effective. This means that one person is in charge of making sure that all members of the working culture are on board and communicated with, in a transparent way.

All the digital transformation changes that you have planned for your enterprise will fall short if they do not work hand in hand with your business objectives.

Pick The Proper Platforms

Once you get on board with all members of your team and understand your business objectives, you will need third-party partners to help push incentives forward. This means researching all of the best firms that can provide components that will carry out your ideas and business plans.

The way to effectively do this would be to rely on credible sources that are working with respectful players in your industry. Your competition can often time be your roadmap, so don’t be afraid to look into what they are doing.

All in all, digital transformation is like a chess game with many moving parts. In order to win the game, you must be strategic and ready to make a move at any given moment. Hence, your mind must be in the game in order to be successful and rise above the growing (and mostly digital) competition.

ABOUT TRANSFORMATIONAL CISO ASSEMBLY

The Millennium Alliance is thrilled to present our bi-annual Transformational CISO Assembly, taking place this year on May 9-10, 2018 at the Hutton Hotel in Nashville, TN.

With the instances of cyber attacks increasing, businesses of all sizes are working tirelessly to secure their networks, devices, and data. Fortune 500 organizations are especially vulnerable as they have big data pools and thousands of people who need access. CISOs need to plan for worst-case scenarios, stay ahead of latest IT Security transformation technology, and maintain their company’s information assets, all without losing sight of the corporate culture.

Download the Transformational CISO Assembly Sponsorship Prospectus for more information >>

This premier gathering will address the most important IT security priorities of 2018 and identify new opportunities to lead an IT Security transformation. Through a cutting-edge program designed by the industry, for the industry, we will provide the freshest and up-to-date insight that will move your organization to the next level. A series of executive education roundtables, keynote presentations, collaborative think tanks, educational workshops, and networking sessions will offer industry-specific topics and trends to ensure your company sustains its competitive advantage.

This is not just another “IT Security” event. If you are the Chief Information Security Officer, Chief Information Officer, Chief Security Officer, Chief Risk Officer or the Chief Privacy Officer, then you should be attending this event.

Spaces are reserved for the best in the business. Reserve your seat here!

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