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Digital conversion process.

 

  • What is digital transformation?

Digital transformation is the general trend of the 4.0 era. But there is no universal definition for the concept of digital transformation. For each business and organization with different management models and methods, the definition of digital transformation is also different:

Global research and consulting firm Gartner said that: Digital transformation is the use of digital technologies to change business models, creating new opportunities, revenue and value.

For FSI – Vietnam’s leading digital transformation enterprise: Digital transformation in an organization is the process of changing from a traditional model to a digital enterprise by applying new technologies such as cloud computing. (Cloud), big data (Big data), Internet of things (IOT), … changing operating methods, leadership, working processes, company culture…

However, it can be understood that the essence of digital transformation is the creation of a new production method (activity) based on digital data and technology, and gradually converting to that mode. And for successful digital transformation, besides the application of new digital technologies and data, businesses need to build a comprehensive and appropriate digital transformation process.

* 5 steps in the digital conversion process.

– Assess the current status and desires of the business.

The first step in the digital transformation process is for leaders to clearly identify what is happening in the organization and the trends in the market. From there, choose the right direction for your business.

Where are the current unmet needs? How will upgrading the technology system contribute to the company’s development goals? Where will digital technology be right for businesses?

After having an overview of the status quo, the next step in the digital transformation process is to assess the readiness of the business. This job requires businesses to meet two factors: people and data.

– Human factors .

This is the most important factor. After all, technology is just a kind of support tool. No matter how smart the tool is, if the user does not have a change mindset, it cannot be effective. In other words, the success of digital transformation will be determined right in the mindset and vision from leadership levels to all levels of employees.

– Data element.

Data is an integral part of building digital transformation. If used well, data will create a springboard to help  businesses transform digitally faster. However, in addition to analyzing existing data within the business, executives also need to pay attention to the data of their strategic partners as well as their competitors. From there, have an overview of the business value chain before entering the digital transformation race.

* Review the process to make necessary changes and select the right technology.

This is an opportunity for businesses to look back to see if they are fully ready for digital transformation. The review allows the business to know which technologies need to be improved? Where is the “outdated” process that needs to be changed? Which stage is not ready and how to solve it? Then make the appropriate adjustments.

Again, decision makers should not rely on personal intuitive inferences, but need to look at actual data to find the right direction for the business.

* Create an open feedback culture.

Digital transformation cannot be successful if it only comes from business leaders. Open communication is a key component of building a digital transformation process. Manager and employee feedback also plays an important role. To encourage constructive feedback, foster open discussions, open spirits, and collaboration.

* Commitment to digital transformation of the leadership and the entire enterprise.

Successful businesses in digital transformation say that changes in corporate culture are more difficult than changes in technology. In order for all employees in the organization to understand that digital transformation is an important activity, leaders need to make it clear that digital transformation is a central strategy of the business. This needs to be demonstrated through the actions and plans of the company as well as the establishment of strategic teams in digital transformation. All of which signals the organization’s commitment to the issue.

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