When the tide of disruption sweeps the whole world, digital transformation is the guiding star to leap into the future. Digital transformation starts from the radical change in an organization's thought, people, and process to sculpt a resilient & sustainable business model. It revolves around an organization's culture by redesigning how they utilize disruptive innovations to surge ahead. It's also a cultural change that mandates organizations to experiment and risk some failures to garner more success. Digital Transformation is defining bigger changes by integrating digital technologies into business processes. It happens when companies embrace new tools and techniques that improve operations and satisfy customers. Thus, businesses get more agile and reboot strategies and models. Market intelligence firm Market and Market estimates global spending on digital transformation to skyrocket from USD 521.5 billion in 2021 to USD 1247.5 billion by 2026, with a Compound Annual Growth Rate (CAGR) of 19.1%. This staggering spending will align with new business models, and new revenue streams as enterprises prepare to meet changing customer expectations on products and services.
The Three E's of Digital Transformation Framework:
We have successfully delivered digital transformation services to our customers while understanding their ecosystem, landscape and challenges. After debate, policy prototyping and piloting, we launched our framework- one that heralds a tectonic shift in the way we ideate and deliver technology solutions. The following explains framework explains how we do it.
Evaluate and Envision
Before embarking on the digital visioning exercise, our digital transformation SMEs aid you in performing an as-is assessment of your organization's technical readiness across the six elements of digital transformation pervading people, processes, technology, experience, culture & strategy. Using a mix of techniques, tools and IT enablers, our diverse team of transformation experts unravel the gaps that need to be filled, the automation which still needs to be done, the IT infrastructure mistakes you may have been making, along with a quality assessment of your current IT interventions. CSM takes a deep dive to create a foundation conducive to digital transformation and emerging technologies …before you go head first and make any financial commitments. Once the digital capacity of your enterprise is established, there is only one way to go – higher, stronger and faster in your digital transformation journey!
For this, in the envisioning phase, CSM provides agile planning to achieve a digital strategy and a business restructuring plan (BRP) which preps your business to be change-ready, innovative focused on achieving goals set for your business KPIs in this ever-evolving disruptive era of emerging tech.
How we do it:
- Assess the digital capacity of the enterprise
- Document the impediments and shortfalls in people, processes, technology and data
- Envision a future state of the digital enterprise
- Define targets and operational plans spanning people, process, technology etc.
Establish
'Establish'- one of the definitive stages of the 'Digital Transformation' journey, refers to the agile planning and creation of a foundation that is fit for emerging technologies. And, in its purview are many key components- capturing business realities within any organization. Thus, the 'Establish' phase envisages the creation of a 'digital core'- this can include application modernization or integration with legacy systems or the creation of a data foundation. Building a connected and scalable system aligning with existing business processes sets the tone for a transformative experience.
To support this automation and baselining effort, tools and technologies are used in conjunction to rid the system of in-silo operations. It also prepares the ground for more efficient data management and alignment of the tech stack with the expected RoI. The foundation for automation laid during this stage can later support the layers of emerging technologies en route to the digital transformation destination.
How we do it:
- Automation Modernization
- Digital ERP Core
- Data Foundation
- Business Process Management (Process Modelling and Re-engineering)
- Choosing the tech stack considering ROI
Evolve
We embark on applying the last layer of transformation to evolve our customers' business into one where "digital" is a growth enabler. At this stage, organizations are continuously powered by omnichannel optimization & data-driven feedback.
The expansive implementations done during the establishment phase to create an automated enterprise with a digital ERP core, modernized apps, and a restructured business process oriented to technology have laid the groundwork and foundation stone for applying emerging technologies to solve real business problems. Imagine a world where commodities are being tracked on the blockchain, IoT is communicating real-time health statistics, SMEs are using augmented Reality in marrying the physical and the digital. Why imagine that world is already around you disrupting our lives and how businesses earn revenue. This is the time we apply the last layer of transformation to evolve your business into a business where IT is a massive growth enabler.
How we do it:
- Omni-channel optimization
- Data-driven decisions using diagnostic, predictive and prescriptive analysis
- Insight-based customer engagement
- Digital products and services (digital transformation, upgradation, digital wrappers)
- Services leveraging transformative technologies like AI, IoT, blockchain, robotic process automation and much more
