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Digital transformation has the potential to do just that: transform an organization, making it more efficient, more responsive and better positioned for long-term success.
But it’s not all that easy. In fact a survey from McKinsey in late 2018 found that just 3 percent of companies feel that they were successful in their digital transformation efforts.
Laura Laberge, senior knowledge expert at McKinsey , said that “the hit rate is so low that it’s discouraging. They feel like they’ve been doing this for four years, spending millions of dollars on technology and people capital and nothing has changed.”
Reasons cited for Digital transformation failures include:
- Lack of CEO sponsorship
- Lack of consensus on Digital Transformation goals
- Being too cautious in going forward with the Digital Transformation Plan
- Focusing too much on the short term instead of the long term
- Attempting to do technical tasks beyond the skill set of the organization
But there is more to worry about. Another category of Digital Transformation pitfalls was called out by Erika Morphy in an article for CMSWire: security, privacy and legal. For example, systems under flux are often more vulnerable.
Dan Hanson, SVP of management liability & client experience with Marsh & McLennan Agency, said that “as you are putting more and more things online internally to inform employees about what is happening, they are more apt to click on emails that appear to be from the company, and open links precisely because they’ve been getting so many emails and they need to stay on top of projects.”