Many organizations are spending significant resources on ‘digital transformations,’ but data shows that most will not succeed.
CALGARY, AB, April 29, 2021 — Today, digital transformation is a hot topic. With the goal of increasing efficiency within organizations, statistics show that a high percentage of these initiatives fail, 84% of them according to McKinsey. While businesses continue to face strong headwinds, digital transformation offers a path forward, but the question remains: How can an organization confidently undertake its transformational journey and be successful? Streamline Control is a Calgary-based company targeting challenges, addressing common errors made during transformation processes and guiding companies to success.
As the world changes, so do the challenges facing organizations. Industrial technology is evolving faster than ever before and, to keep pace with this evolution, outdated systems must be renovated. Budgets are concentrated on maintaining old systems with aged technology when there are alternatives to reduce costs, stay current, and find efficiencies.
The craze around digital transformation becomes obvious when taking a closer look at the benefits: increased revenue (Deloitte), improved operational efficiency (Forbes), improved product quality (Deloitte), and reduced costs (McKinsey). However, to succeed, organizations must understand and prepare for potential challenges and avoid pitfalls.
“Digital transformations are like every other complex IT project, but with even more challenges because they shape the way a business operates,” says Matt Devine, CEO of Streamline Control, an Alberta-based company recognized for its notable expertise in digital transformation processes.
Among the challenges of digital transformation are resistance to change, failure to deliver, and not having the right technology to implement proper procedures. Succeeding in digital transformation means establishing the right game plan and executing that plan based on the best practices – an organization must be willing to go all-in to reinvent. Innovative technologies have proven to be key factors in reaching digital transformation goals; organizations engaged in collaborative, guided experiences have 1.6 times higher customer satisfaction rates (O8).
With over a decade of experience in implementing industrial technologies along with its digital transformation framework, Streamline’s clients are making significant strides in their digital transformation journeys. Using a proven framework as a roadmap, successful transformations help organizations compete more effectively, become more efficient, and provide a path towards meaningful growth.
To learn more about how Streamline can help guide your transformation journey, contact us.