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The cost of Digital Transformation

Blog: The cost of Digital Transformation

Lisa Williams

@ maveric-systems | | Science-Technology

There are a lot of arguments for and against the relevance of digital transformation of business in today's world. Although the arguments against the need of digital transformation are strong and logical, practical results indicate that the arguments for digital transformation hold greater strength. Needless to say, today, almost every large corporation has invested in transforming its business digitally. It is only the small and medium business enterprises which are lagging behind. No doubt, the greatest fear these small and medium business enterprises face is the high cost associated with digital transformation. They are well aware of the positive results that digital transformation will bring in for them. It is only the initial cost which bothers them. However, it is to be noted that the cost of digital transformation can be minimized by a great extent if the enterprise adopts a few smart strategies. In this article, we shall try to explore a few such smart strategies which will help in bringing down the total cost of digital transformation.

  1. Selecting a comprehensive Digital Transformation
    The key to successful digital transformation lies in the selection of the right program. Needless to say, the market has a large number of digital transformation programs that promise numerous benefits. However, the number of transformation programs which cover multi-dimensional areas are rare. Such programs do not stop their projects after the development and installation of business software, but also provide post installation services. At the same time, these programs help in training the people who will be working on the software. These transformation programs might seem costly at first but if you consider all the services they offer, you will realize how cost effective they are.
  2. In house training of employees
    Most Digital Transformation offer business analysts who help in the planning of the project. The business organizations believe that the business analysts provided by these services are better for the project. They do not realize that they are also bearing the cost of these business analysts. It is always better to invest in the training of a few in house managers instead of hiring external managers. This is because the training of employees will come handy for the organization, even after the completion of the project. If you compare the cost of training of employees and the fee of external business analysts, you will definitely discover a way of cutting unnecessary costs.

The bottom line is that small and medium business enterprises do not have any reason to fear digital transformation, if they plan properly.