Taking the first steps to digital transformation
Summary
Digital transformation without innovation isn’t sufficient for business efficiency.
Businesses that are ‘Fit for the Future’ have a holistic approach to digitalisation: they consider their impact on processes, employees, customers and the environment.
Adopting the latest technology along with sustainability plans and building strategic partnerships is what businesses need to thrive.
What’s digital transformation?
What digital transformation comes down to is leaving legacy systems behind, embracing new tech and challenging old ways of working. It means fundamentally changing your operations and your customer experience. One outcome of this is a significantly more efficient business.
Efficiency is a clear sign of a future-proof organisation. Streamlined processes can save money, help get your products to market more quickly and improve staff productivity. Ultimately, all these things will give you a competitive edge.
To get a picture of how close you are to achieving this, answer these questions:
Do you currently measure efficiency and productivity in your business?
In which areas does your business you need to be more efficient?
What will greater efficiency enable you to do?
What do you need to know to make the changes?
How do I make my business more efficient?
Start by making small changes where you can make the biggest gains. Pick specific areas and test, iterate and implement solutions.
Making your business more efficient requires more than a comprehensive digital transformation though. The recent environmental and economic crises impacted the usual ways of working, so taking small steps towards digitalisation isn’t enough for businesses that want more than just to survive.
Successful businesses identified as ‘Fit for the Future’ in Vodafone’s latest report view innovation as part of their strategy and have plans not only for digitalisation but for sustainability and building partnerships as well.
“Fit for the Future (FTF) businesses are at the forefront of innovation – but not at any cost. They are more conscious of how their actions impact society and the environment, and will often build this into their planning.¹”
A holistic approach to digital transformation
Businesses that are ‘Fit for the Future’ have a holistic approach to digital transformation which means that they’re considerate of their impact on people and the planet as well. They’re innovative, creative, able to develop detailed strategies, allowing the whole organisation to plan for the future. They also understand the importance of building strategic partnerships, as successful businesses need to have the right partners to help them deliver the new ways of doing things.
An innovative approach to digital transformation means leaving legacy systems behind, embracing new tech and challenging old ways of working. It includes changing your operations and your customer experience to achieve business efficiency.
2023 Fit for the Future report
84% Innovation is key
84% of FFTF businesses have a defined strategy for innovation²
27% Cyber Security is essential
Cyber Security solutions are the top-ranking innovative technologies for FFTF businesses³
75% Strategic partnerships
75% of FFTF businesses are reconsidering their existing business partnerships⁴