Speed was the main KPI for tackling digital transformation during a pandemic: So, what’s next? Consider these digital transformation indicators.
The era of digital transformation is changing. So, digital transformation indicators are also changing. “Survival has been a major measure of success over the past year,” said David Cushman. He is the research director in emerging technology practices for the IT consulting and research firm HfS Research. “Transformation has been imposed on many people.” Companies and their IT organizations had no choice but to do what they needed. Hence, speed is a key KPI, says Cushman.
After completing several initiatives (many of which have been on the digital to-do list for some time), companies are considering the following: Goutham Belliappa, Vice President of AI Engineering at Capgemini North America, said: “In 2021, they will take the innovation journey further, achieve higher efficiencies, move faster, and at the same time generate revenue to stay positive in the market, while the true value of these investments. They will understand. ”
Digital transformation will continue. So, the main distinction in the competition is related to the customer, employee, ecosystem, and market responsiveness. The ultimate goal of most organizations is to return to growth. “The pandemic has shifted the focus of many companies from growth-oriented indicators to resilience indicators through cost savings,” says Belliappa. “As the United States seeks to achieve its vaccine surplus, the market has dramatically shifted from a cost control strategy to a positive growth strategy.”
Digital transformation metrics that work now
IT organizations and their business stakeholders need to establish key indicators of success in line with new business goals. Hence, digital transformation consulting is vital for progress. So, here are some of the digital transformation KPIs that make sense in 2021:
Continuous realization of business value
“Initially, it was a major transformation, but it became a continuous transformation, which was reflected in the indicators. So, in a sense, the one-off conversion metric has changed to a continuous conversion metric.” Prashant Kelker, partner at technology research and consulting firm ISG, provided insight. Indicators related to the realization of business cases have or realize continuous value realization. On-time / budget delivery metrics are evolving to measure scaling flexibility. “Before COVID, the world was already looking at a transition from project thinking to product thinking,” says Kelker, who is tracking continuous value realization at 400 companies. “The pandemic has accelerated this. Currently, some clients are interested in budget adjustments, allocations, allocations, and spending along with product-centric agile delivery.”
Percentage of processes designed for the cloud
Cloud-native tools and automation give organizations the agility they need in the future. So, cloud-native tools and automation give organizations the agility they need in the future. “Processes need to be designed end-to-end in the cloud to learn from human interactions and continue to improve,” Cushman recommends doing a baseline assessment and setting goals to monitor. Mr. says. “To create an organization where processes run end-to-end throughout the company’s value chaiBusn and flexibly respond to rapidly changing requirements, we need to reach 100% as quickly as possible”.
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Attribution of revenue
For example, it’s important to align your revenue with a particular marketing activity. “This includes how investing in digital transformation can help reduce churn. So, it can improve customer acquisition and improve the brand experience,” said Nitish Mittal, vice president of Everest Group. “For example, in retail, it’s important to provide a seamless direct-to-consumer commerce experience.”
For some companies, it’s helpful to see how innovation generally affects revenue. “In all conversations with CEOs, CDOs, and CMOs, they are moving back from controlling costs to gaining market share and creating value,” says Belliappa. “Revenue from commodity services is not as important as revenue from new, innovative, efficient, and differentiated features. Those features that are not only difficult to replicate, but also have high growth potential.”
New customer conversions
Since 2020, buyers have been eager to try new things more than ever. Since 2020, buyers have been eager to try new things more than ever. To determine if an organization is profitable, companies can determine how well they can convert people trying out a product or service from trial to repetitive use.
“We are more motivated to try new brands than ever before,” said Matt (MJ) Johnson. He is the Head of Products and Experience Labs at West Monroe, a business and technology consultancy. “Companies have a great opportunity to leverage people trying out new brands. It’s more important than ever to measure how well they translate.”
Innovation successfully brought to market.
Digital transformation and data must enable organizations to identify and take advantage of new opportunities. “The measure of success is the number and value of successful innovations brought to market,” says Cushman. You can hire full stack developer, as they are good additions to suitable businesses.