Intelligent Fin.tech Issue 11 | Page 67

CHEQUING OUT

WHAT IT TAKES TO STEER SUCCESSFUL DIGITAL TRANSFORMATION

Digital Transformation is intimidating for a lot of businesses . Unfortunately , this means many fail to even those that do , struggle to transform successfully because they lack proper planning and don ’ t approach the process with the right mindset . Although upending current business processes to adopt new technology is challenging , it ’ s a crucial undertaking if businesses want to keep pace with the rapidly advancing digital world . Businesses that fail to digitally transform will struggle to keep up with customers ’ evolving demands and fall behind the competition . Eric Lefebvre , CTO at the tax compliance and reporting software provider Sovos , offers insight on having the right mindset to master Digital Transformation .

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Naturally , you talk a lot about Digital Transformation in your role . How can IT leaders tell it ’ s the ‘ right ’ time to restructure their IT departments ?
You cannot execute successful Digital Transformation without a healthy IT department . Leaders , then , must be on the lookout for the warning signs of a sinking IT ship so they can implement change before any employees or customers go overboard .
If your business suddenly can ’ t keep up with market demands , this can be a sign of trouble in the IT department . Challenges like rising technology debt , spiraling project costs and stifling software renewals may be pulling your IT team ’ s attention away from hitting milestones and achieving deliverables . What may seem like an inconvenience for the short-term spells catastrophe for the long-term , as a well-functioning IT department is essential for maintaining your organisation ’ s tech stack and guiding you through Digital Transformation .
Similarly , if delays have become your business ’ new normal , then this may mean your IT department has been driving with the check engine light on . Sometimes , the remedy is simply addressing external factors that may be adding undue pressure to the team , but it ’ s more likely that restructuring the department is the solution .
Finally , organisational design is another common source of friction within a department . If ignored , this disorganisation can lead to internal conflict , resulting in suboptimal results across the entire organisation . But before you can restructure your IT department and restore harmony among employees , you must first ensure you have a clear understanding of the department ’ s inner workings – only then can you begin restructuring and problem-solving .
How can businesses protect themselves against Digital Transformation failure ?
Digital Transformation is not just the responsibility of your IT department , and organisations that think so are setting themselves up for a rough ride .
Again , Digital Transformation extends well beyond simply adopting new technologies ; it is a fundamental change to the www . intelligentfin . tech
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