by At a recent conference I attended about digital transformation, a question was asked about what size a company should be to enroll on a digital transformation journey. The response confirmed what my experience has been. You do not need to be a large corporation to adopt digital transformation. A company of any size can adopt it.
We have heard more cases of companies going digital, forced by the pandemic, forced by the pandemic, and managing to survive while some competitors remained as observers. While the first ones managed to survive, the latest ones are going through difficult times, even some of them going out of business.
Several examples can be found across different industries. A Toronto restaurant that decided to go digital and developed an app to take on-line orders for curbeside pick-up, using nice bags to deliver the meal with accompanying instructions to listen to a Spotify playlist created to resemble the restaurant’s ambiance at the comfort of your home. So far, they have managed to stay in business.
Diigital transformation does have a high impact on a business’ performance
A BCG perspective published in 2016, found that “across a range of industries, companies with high technology intensity have higher gross margins than those of the average performers”.
You may have initiated the journey to digital transformation.
You might have enrolled on a digital transformation process without consciously realizing it, by making the decision to implement an integrated ERP system. Such a first step builds the foundation for what could be a series of initiatives leading to serving your customers’ needs in a better way, giving you an advantage in relationship with your competitors. You just need to continue with the journey.
As Bob Iger said in his book The Ride of a Lifetime:
“Now more than ever: Innovate or die. There can be no innovation if you operate out of fear of the new.”
Bob Iger
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