The world is becoming increasingly digital with each passing day, week, month, and year. How we interact, communicate, and deliver value to our consumers, have distractedly evolved in just a few short years. Prior working relations and operations are now a thing of the past, due in part to the global pandemic and the world's rapid modernization.
And consumers are well aware of this. A modern, digitalized enterprise is an expectation, no longer exclusive to the newer industries or tech startups. New industries have given this mandate.
They've reshaped the norm and, in effect, the anticipations of the consumer. These expectations and anticipations from consumers pose new questions. They also pose new hurdles for industries of the prior years.
How do we stay relevant, competitive, retain, and gain new customers in this seemingly saturated modern world? What changes must be incorporated, and where does one begin? How do we rethink our old operating models and methods to be digital?
To be modern? What does this even entail?
The answers to these questions are both complex and straightforward. In short, it begins and ends with digital transformation. In full, it begins and ends with this complete guide to digital transformation.
Below is everything we will cover. Feel free to skip ahead.
- What is digital transformation?
- What is a digital transformation strategy?
- Five myths about digital transformation
- 10 ways TrueNxus can benefit your company's transformation
- Begin your transformation journey with TrueNxus
What is digital transformation?
Digital transformation is a necessary disruption. It is a byproduct of the industrial evolutions of the present-day world. A "side effect," if you will, of the age of the internet.
Many refer to digital transformation as a necessary disruption, partly due to disrupting the former norm of business operations. However, this disruption is a positive change. It is an essential transition or transformation. It revitalizes business models, company culture, and customer experiences.
Digital transformation can be understood as the strategic and foundational change in how an organization delivers value to its customers. This way of change is through the incorporation of digital technologies. Technologies such as products, software, and/or systems.
This is done as a means to modify, enhance, and digitalize the existing processes in place. Incorporating digital transformations allow businesses to remain relevant and continue to seek ways to provide value to their consumer base. Moreover, it will enable companies to stay competitive in today's cut-throat marketplace.
Digital transformation leverages technologies to create value. It also is done to new services or products for stakeholders and consumers. The goal is to seek innovation and acquire the ability to adapt to the constantly changing marketplace.
What is a digital transformation strategy?
Digital transformation requires a strategy. Many refer to this strategy as, of course, a digital transformation strategy. So what is it, and what does this strategy entail?
Digital transformation strategy is the bridge between your current processes and desired target operating model processes. Having a system is what gets you and your organization to achieve digital transformation. The strategy is the journey from point A to point B, and so on.
There are essentially three fundamental questions. Each organization and, at times, departments within the organization must address. When wanting to devise a plan for their strategy, the questions are as follows:
- Why do we need to transform?
- What do we need to change?
- How can we transform?
These questions are essential to answer thoroughly. They will provide your team with clarity. This clarity is needed to understand the purpose of implementing a digital transformation.
Furthermore, these answers will explain who and what processes will be affected by the change as digital transformation can look different for each organization.
Diving further: addressing your what, who and why
We briefly made a note of the questions businesses must ask themselves when addressing their digital transformation strategy. However, here we wanted to dive a bit further as to what this process consists of.
In your digital transformation strategy, you will address: why do we need to transform? What do we need to change? How can we transform?
These questions are the basics. Following them, you and your team will need to consider your: "what," "what + who," and "why + who."
The general inquires of these are:
- "What do we want to achieve?"
- "Why do we want to transform, and whom are we transforming for?"
- "Who can help us with the "what."
Each of these questions has subquestions that make up the overarching question of the "what," "who," and "why," and should be considered in the process of devising your strategy.
Again these questions are merely starting points that follow your previous questions. They are building blocks, if you will.
Nevertheless, management must have a collective certainty of these factors as any transformation. No matter the scale or what will be affected, this process begins and ends with the organization's leadership. Success is dependent on the direction of the organization.
Five myths about digital transformation
Implementing digital transformations into businesses looks a bit different for each organization. It depends on the industry, the company's market, goals, and current problems—this why the definition can seem a bit vague at face-value.
Nevertheless, we thought that it would be helpful to dispel some common myths surrounding digital transformation. We want for you to come to some form of understanding of the definition. Later we will divulge the many benefits of digital transformation.
Below are five myths about digital transformation.
1. It's only about technology
Digital transformation is only about technology is perhaps the most common myth surrounding digital transformation. Transitioning to using the software in your business practices isn't digital transformation. It's only a tiny fraction of it.
Instead, real transformation concerns how your company will modify the use of technology into its practices as a means to improve business strategy.
- How will your company enforce or adjust to the new technological standard?
- Will implementing a digital transformation strategy change your business?
- In what way will digital transformation change your product or service?
- Will digital transformation affect your competition?
These questions give birth to new skills, new roles and calls forth a culture of change.
These questions, too, are an extension or part of a digital transformation strategy. Understanding your visions, plan, and course of action precede the technology. Technology is the tool that allows teams to achieve their vision by providing a platform to aid in their program and effort.
A company must access where they're at and where they want to head. Digital transformation is the "how" to this process. It is a digital business transformation. How can digital transformation aid us in our journey from point A to point B.
2. It's a one-time project
Another common myth that is far fetched, digital transformation is a one-time, one-off project. You should know this to be false after reading the first myth. Those questions are ever-evolving; therefore, so will be your digital transformation.
In modern business, nothing is finite. We see this statement's evidence through a simple reflection of the changes and evolutions by looking back at the past two decades. The systems from yesterday have transformed astonishingly.
And more impressive, the speed at which they've done so. That said, change takes time and evolves with time. Due to digital transformation trends and evolutions in business and technology strategy, digital transformation will be of continuous development.
3. It's only relevant to startups or tech companies
No. This is far from the truth. Companies and industries that would benefit the most from digital transformation are B2B companies and larger older industries. This is relevant to companies as banks, insurance companies, health care industries, oil and gas companies, and other industries. Why is this?
Digital transformation is an excellent opportunity to make those adjustments/modifications to their business strategies. Why so? Well, consumers are starting to hold those expectations from these industries.
There is a new consumer base that of two key generations, Millenials and Gen Z. Both of these bases are that market and these markets that expect modern services. They expect a company to provide its in-person services online or mobile. They expect this online experience to be pleasant, free of frustration or confusion.
This affects you as these two markets are quick to find a competitor who will provide their expectations. There is no brand loyalty from these generations. Why not?
Competition is high, and competitors are quick to ensure that they'll be the ones to provide value. Getting ahead before your competitors do so is the first step in surviving the new digitalization wave. From there, you can address how you will deliver value to your consumers to ensure survival.
4. It's separate from a business strategy
This is another myth that's far from the truth. As we stated, digital transformation changes or modifies how a company delivers value to its customers. Those changes and modifications are not isolated.
They're not extra things to be added to your business model or business strategy. As a result, digital transformation affects your business strategy as it alters your business model.
5. It's too challenging to implement
While there are challenges to implementing digital transformation, it is not impossible. It is and should be an exciting transition! An implementation plan should follow when strategizing during meetings with senior leadership, external stakeholders, and employees.
Moreover, your company must agree on the program and project management service or software it wants to invest in. The determining factors of value will look different for each company. They are dependent on the strategizing methods and modifications of the business model. Regardless of the plan put in place, what follows is finding a program, project, and change management platform.
We at TrueNxus specialize in this very platform.
10 ways TrueNxus can benefit your company's transformation
Digital transformation is a comprehensive process that takes time. It also requires the right leaders to see through the change. We at TrueNxus have created a platform for ideal optimization and modification for small and large, old and new, businesses alike. Businesses like yours.
Below, we've detailed ten ways in which we can be a benefit to your team and, therefore, your company. There are many business benefits of digital transformation, and our platform, TrueNxus, caters to teams like yours, such benefits.
We help you take advantage of automated workflows, revitalizing your operating systems and business model. We want to foster a community of collaboration and improve your current and potential customers' value and experience.
Below are ten ways TrueNxus can benefit your company's transformation.
1. Effective and simplified change management
If you're reading this article, perhaps you're curious about digital transformation. Or maybe you're looking for software that can assist your organization in this transition. We understand the myth that digital transformation is challenging. However, we want to reassure you that that is untrue.
Digital transformation and digital transformation strategy are not difficult to execute. However, you have to invest in a platform that simplifies this process efficiently and effectively. Our all-in-one workspace is that platform.
Our interface is designed in a fashion that is minimal and concise. It only displays what is relevant in the desired task you're executing at the moment or planning to execute. Additionally, it is learnable and accessible. Lastly, TrueNxus simplifies the complexities in a digestible way for any user regardless of their domain or familiarity with similar project management software.
2. Consolidation of operations and processes
The nature of TrueNxus being an all-in-one workspace for cross-functional collaboration. Our platform consolidates the operations and processes for companies no matter their size or industry. You'll no longer have to use multiple apps and get lost in translation due to the lack of consolidation and organization.
One of the most significant facets of digital transformation is consolidating operations. This is for ease of understanding, clarity across teams, and transparency with stakeholders. Yet too, this is only to be achieved through choosing the right platform.
TrueNxus is that platform. Our platform consolidates everything; we provide an all-in-one workspace for cross-functional collaboration.
Our workspace allows you and your team to work with your colleagues, regardless of the department. You'll be able to give access to clients, consultants, and contractors; transparency is valued and encouraged. We hold that this, in turn, can increase productivity, marketplace value, and overall company morale.
3. Improved program and project management
Incorporating an efficient program and project management platform for an entire organization may seem daunting at first. However, this step in implementing digital transformation within an organization is a part of the transition and cannot be an oversight from leadership.
Luckily, both our project management software and program management software is ideal for any team, regardless of their size or familiarity with the software. Our platform helps streamline the process of collaboration, planning, execution, and communication.
Change comes when consolidation is completed through improvements in project and program management. It follows suit.
This change aligns your business operations to the strategies. It puts into place through consolidation and transition to a program and project managed software.
4. Easier mergers and acquisitions
From pre-deal planning to post-deal value realization, our workspace provides you and your team control of all your mergers and acquisitions in one place. This simplifies and gives ease to the formerly tasking methods of merging and acquiring.
How? Through the inclusion of automated status reports and more. Our all-in-one workspace equips you with the capabilities to collaborate with ease. Furthering the promotion of the spirit of transparency and accountability with your clients.
5. Increased agility and productivity
As you make the switch to our program and project management platform, an increase in agility and later productivity will follow. The platform fosters a sense of usability.
With an intuitive design, ease of learning, efficiency of use, memorability, as so on, your team's current processes will be streamlined and agile. Incorporating a digital transformation software of this caliber will increase your team's productivity, agility and lead to a culture of collaboration.
6. Foster digital culture and collaboration
About every article you'll find online reinforces that notion in which digital transformation is a cultural and organizational change. It is not merely a change in operations.
This notion is true. However, it stems from leadership, and if the leaders cannot come to embrace the new technologies put in place, neither can the team.
Due to our platform's ease of use and learnability, leadership can quickly come on board and enjoy the new system. We hope that this trickles down to the team. We hope to help foster a digital, or rather, modern culture—one of agility, productivity, accountability, and trust between leadership and their team.
Digital transformation should benefit the stakeholders and consumers and also reward employees.
7. Encourage innovation
Another facet of digital transformation you will find that comes with making this change is innovation. This is true and comes from holistically approaching the existing departments within your organization and evaluating just how digital technologies can enhance these current processes.
What's the relation to innovation? This approach is the start of innovation. As the company culture changes, agility and productivity increase. Ideation and innovation will come with this transformation.
Constant and consistent innovation is how companies stay ahead of their competitors while retaining and gaining new consumers. Digital transformation is business transformation; this leads perfectly to our next point.
8. Improved customer experience
An improvement in customer experience is the digital transformation product, following its cultural and organizational expertise.
Just how your customer's experience is improved is contingent on whatever services or products your business has to offer. Regardless of these details, as the culture changes, ideation and innovation follow, as previously stated. This spirit of innovation and ideation is for the betterment of the organization and the customer.
Moreover, the consolidation of your company's current processes and operations will improve the customer's experience. Having ease of cross-functional collaboration allows industries to recenter their focus on what matters, the consumer.
9. Increased profit and market share
Our platform enables business transformation. It empowers the people within your team to fundamentally change the way they operate and approach business strategy.
This, in turn, should alter how the company operates, which will inspire ideation for new services or products. As a result, TrueNxus will potentially increase profits and market share in the process.
10. Client onboarding for successful transitioning
We explain how to create a project, create and group tasks, and update tasks in a list and in a timeline. How to add members and users to projects, invite colleagues and guests. How to monitor, create, and send reports, and so much more.
We also offer guides for some of our most valued and popular features. Our popular guides cover topics such as effective change management for cross-functional teams. As well as essential project management, mergers & acquisitions, and innovation.
We provide a 14-day trial to allow you and your team to test our platform, gauging whether we can be of value and offer excellent digital transformation services to your company.
Begin your transformation journey with TrueNxus
TrueNxus understands what is digital transformation. Our workspace is built to enable your entire organization as a cross-functional team. It has everything that you need to change the way your company operates. TrueNxus is business transformation management software built to help you manage your digital transformation.
In any digital transformation you need help with:
- managing multiple projects
- Planning projects (i.e., project charters, project plans)
- Executing projects
- Monitoring and controlling projects (i.e., status reports)
- Visualizing all of your work in one central location
- Collaborating with your colleagues, clients, consultants, contractors, and other third parties
Here's a look at some of TrueNxus's features:
1. Multiple views
With any digital transformation, people require different ways to visualize work across time. Not only that, but each individual specializes in a specific domain, and as such, each thinks about work differently. To ensure successful planning and execution, you need software that provides personalized views that make sense to everyone involved in the change. These views need to be in sync as well.
TrueNxus provides you with the following views:
A list is a table that allows you to manage your cross-functional projects easily. You can organize your project work into groups such as workstreams or any logical way to categorize tasks.
With TrueNxus's Timeline, a Gantt-chart like view, you can visualize your project plans across time. It lets you understand how all of the work fits together. You can make updates to the project plans through an interactive interface.
3. Automated project status reports
We understand that each cross-functional team member is busy balancing multiple priorities, from your day-to-day responsibilities to various programs and projects. Therefore, TrueNxus successfully executes monitoring and controlling projects by automatically analyzing the project's health in real-time, giving senior leadership and the team the insights they need to make decisions and move the ball forward.
4. My Work
Another essential thing for everyone involved in a digital transformation is understanding what you're on the hook for delivering. With TrueNxus, you can view every task and every dependency vital to you, across every project, in one location, ensuring success.
Additionally, we know that you don't want to let your colleagues down or be let down. You can ensure the successful delivery of programs and projects through collaboration and documenting task dependencies. By doing so, you can be accountable when others are reliant on you. You can understand dependent tasks, change implications, and adjust course as needed.
6. Automated notifications
No matter your role in any digital transformation, you can also successfully execute work by leveraging software to notify when changes occur. With TrueNxus's 20+ out-of-the-box automated notifications, you will have the transparency you need to stay in-the-know.
Additionally, the entire cross-functional team can ensure project plans are successful by collaborating directly in the app. With TrueNxus, you can communicate with colleagues, clients, consultants, and contractors in one place.
8. Project charter
Lastly, you can leverage OKR and create a project charter. You can ensure the successful execution of projects by documenting and aligning the project's objectives, benefits, and risks from the very beginning. TrueNxus is the only software that has a project charter directly in the app.
Just as you understand change is needed to survive in today's economic environment, we hope this article has helped you understand what is digital transformation.
Additionally, we at TrueNxus want to be a part of your change, to make this process easier and smoother for you and your entire organization. Contact our sales team if you have any remaining questions or if you're ready to get started in your transformation. We also offer an online guide that serves to provide more insight and an FAQ.
Change takes time. It's not just the incorporation of new technologies. It's a cultural change that will entail the constant evolution of a business.
We at TrueNxus want to help your team get started today.