Technology transformation is playing an important role in improving business performance. This improving business performance is majoring in the outcome of technology transformation with reference to advanced technologies and the involvement of strong IT performance. Both advanced technologies and strong IT performance play a vital role in improving business performance.
Organizations are investing a lot in technology transformation, as a result, it is leading to various cultural and talent gaps. Other than cultural gap and talent gaps, it also shows a weak partnership or weak acceptance level between IT growth within the organization and the rest of the business along with various business units. These gaps if are not addressed in time may further lead to the collapse of the business and brand. As discussed in my other article referring reskilling people, the organization really need to look into reskilling their workforce, improve and accept the diversified culture, bring harmony and improvement between IT & other business units following a strong measurable IT follow up so as to identify and improve the gap that is needed for improving business performance.
Growth Engine within Technology Organizations
A survey says that technology organizations have generally fallen short to Executive expectations. With the introduction of IT to advanced level, the workforce has got a myth that human resource is replaceable at any time or is a headcount only. But when an organization is looking for growth and has a target of improving business performance, organizations are investing in reskilling people and culture. This investment has further improved the culture in such organizations where the workforce says that their technology organizations’ performance will significantly improve as a result there will be visible differentiation in overall business and will have a competitive edge over their competitors.
Organizations do expect that with the introduction of advanced technologies and investing in reskilling their workforce will significantly improve their revenue rather than focusing on cost-cutting or cost reduction. The organization does believe that improved technology portfolio of organizations will play a major role in attracting new customers with an extra edge over their competitors. Also, organizations have a firm belief that the use of advanced technology will pass on various efficiencies to their existing customers to have trust and strong bonds with them. Following the same, technology transformations will help organizations in attacking new customers meanwhile maintaining the existing customers that result in improved revenue and brand marketing. Digitalization and automation are some examples of technology transformation.
Organizations also accept that with the introduction of advanced technologies have improved their performance. It is visible from various performance trends within the organizations. Technology transformation has not only improved the performance but also have sustained these improvements. Technology transformation not only is helping in improving the performance but also opening up various other opportunities and hence enhancing the organization portfolio as well.
Organizations are investing in technology improvement and reskilling their workforce that results in improving their core technologies, modernization of IT advancement and improving the various operating model that further result in increased revenue, health employee satisfaction, and brand marketing.
Organization Challenges and way forward
Technology transformation is good for organizations to move along and sustain as part of the 4th industrial revolution or digital transformation. Also, it has its challenges that organizations need to act and mitigate. Major challenges that any organization needs to act immediately are as given below:
Strengthening IT infrastructure and collaboration with other business units
Technology transformation presents opportunities to establish processes for delivering business value and not only just codes. Processes which get creating and applying together with business partners helps in promoting ongoing collaboration. It also helps in bringing employees from IT and other business functions together as cross-functional teams for the best of the outputs.
Cultural modernization and Reskilling the Talent
Cultural and talent-related issues are always the top challenging issues as always for any organization. Organizations need to keep on reskilling the talent along with improving the cultural modernization. Organizations need to carefully look for gap analysis and plan for talent improvement considering all business dynamics. These gaps must further be measured using available technologies to ensure the best fit is occupying the right seat.
Quantifying business values
In general, everyone is using the technology to measure the existing performance, execute gap analysis for the workforce, plan for training and later again measuring gap analysis updates. This helps in maintaining the performance part only. In this complete scenario, organizations miss measuring business value. These values are not only quantified and measured but are also advised to share across all within an organization to maintain transparency. These values also help in agility and improving performance in all aspects.