How to ensure the best ROI on your digital transformation
Technology is constantly evolving and organisations must stay ahead of the curve to remain relevant and competitive. Digital transformation has become a buzzword in recent years, but the actual value of digital transformation lies in strategically implemented processes that yield a significant return on investment.
It’s not enough to merely invest in digital transformation; it has to align with your business outcomes and enhance operational efficiency, and improve customer experience to provide the maximum return on investment.
How to measure the success of your digital transformation
There are several key metrics that enable you to measure the success of your digital transformation, including:
- Revenue growth.
- Increased efficiency.
- Monitoring key performance indicators
- Improved customer experience.
- Employee satisfaction.
- Data-driven decision making.
Here are five tips to ensure the best ROI on your digital transformation.
Understand your business objectives
To ensure maximum return on investment for your digital transformation, you must understand your business objectives and what you are trying to achieve. Your digital transformation must align with your business objectives.
Before your digital transformation commences, you must identify and define your objectives and what you want to achieve. This may include an enhanced customer experience, reduced costs, increased efficiency etc.
Once you have identified your objectives, you can ensure the digital transformation aligns with these goals and give you a clearer picture of what you need to achieve during each stage of the change.
Assess your current state
To ensure you can measure the return on investment of your digital transformation, you must be aware of your current state. You need to identify your organisation’s strengths and weaknesses and evaluate existing processes, technologies and infrastructure to determine how technology can help.
Create a digital transformation roadmap
A digital transformation roadmap can ensure you stay on track to meet business outcomes and achieve the maximum return on your investment. A roadmap will help you prioritise initiatives and focus on the program or project objectives at each key decision point in the digital transformation.
A clear and practical roadmap will help you allocate resources and skills effectively and provide a point of reference to communicate to employees and all other relevant stakeholders at every stage of the digital transformation.
Choose the right technology partners
To achieve a return on investment from a digital transformation, it’s important to choose the right technology partners. You must select partners who are experienced and knowledgeable within your industry and have demonstrated experience in delivering successful digital transformation projects.
Invest in quality digital assurance
The best thing you can do to ensure the best ROI for a digital transformation is to invest in quality digital assurance. Onboarding a digital assurance professional will ensure the digital transformation meets all business outcomes and maximises return on investment.
A digital assurance professional’s role is highly beneficial, working to improve all aspects of the program or project and identifying any areas that need improvement. They will assess the project or program to ensure the resources and skills have been allocated efficiently and will preempt risks and solutions to mitigate any challenges.
A digital assurance professional will assess the viability of the digital transformation at key decision points to ensure it meets your business outcomes. If it isn’t viable, they can draw on their extensive knowledge and expertise to offer viable solutions to ensure the program or project is aligned with your business objectives.
Maximise your digital transformation ROI with Global Digital Assurance
To ensure the best return on investment for your digital transformation, it’s essential to invest in quality digital assurance. A digital assurance professional will help you understand your business objectives, assess your current state, ensure your digital transformation roadmap aligns with your business objectives and help you allocate the right resources and skills within the digital transformation.
We provide on-demand training courses designed for assurance reviewers, governments and organisations. Our accreditation enables your organisation to access in-house assurance professionals to ensure the success of your digital transformation.
We have various accredited digital assurance programs built for modern digital environments, suitable for all industries. These modern digital assurance training courses align with best practice standards for agile and gated assurance.
To learn more about our digital assurance courses to maximise ROI for your digital transformation, contact us today!