How to unlock the potential of your business
Defined by technological advancement, companies around the world aim to harness the potential of digital innovation. However, amid the general excitement about transformative technologies like artificial intelligence (AI) and data analytics, executives often face numerous challenges in effectively integrating the technology into their large-scale operations.
Correct problem identification
Correctly identifying the problems to be solved is very important to start a successful digital transformation process. By prioritizing urgent challenges that directly affect customer experience and organizational performance, businesses can develop targeted action plans to use digital solutions effectively.
One of the main challenges facing executives is the transition from small-scale testing to large-scale deployments across the organization.
Although many companies have successfully piloted projects that demonstrate technological capabilities, they often face difficulties in turning these initiatives into tangible improvements to company performance.
Human resources and data approach
Addressing this challenge requires a concerted effort to align HR and data strategies with overall business goals.
Achieving large-scale deployments requires organizational training and human resource management to facilitate seamless integration of technology solutions into existing workflows.
Cultivating human resources capable of driving innovation and executing technology projects effectively is critical to the success of any digital initiative.
Investing in company talent development and creating a culture conducive to continuous learning and technological advancement is critical to long-term digital success.
Avoiding the trap of technology
In today’s landscape, there is a tendency among companies to adopt emerging technologies such as generative artificial intelligence without clearly defined use cases. While these technologies have immense potential, it is critical to avoid adopting them solely for the sake of innovation.
Instead, businesses should focus on solving challenges and areas through a holistic assessment of available technology solutions.
Despite investing in state-of-the-art technology solutions, many companies struggle to fully leverage their technology investments. This underscores the importance of addressing underlying operational bottlenecks to maximize the value of technology investments.
A holistic approach involves not only implementing the technology, but also optimizing the associated processes to maximize the value of the technology.
Shifting towards a digital mindset
Successfully navigating digital transformation requires a fundamental shift in organizational culture, where technology becomes part of every aspect of business.
Executives must foster a mindset where technology is seen not as a separate function, but as an integrated component of the organization’s DNA.
This involves training employees with the skills and resources to tackle technology-led innovation at all levels of the company.
In conclusion
As businesses advance through the transformations of the digital environment, strategic vision is critical to driving technology transformations to success.
By addressing key challenges such as human resource management, problem identification and value capitalization, executives can set their organizations on a path to growth and increased competitiveness.
Investing in the fundamentals of digital transformation lays the foundation for long-term success in today’s rapidly evolving business environment.
Alina Făniță este CEO și Partener al PKF Finconta. A lucrat cu companii multinaționale sau firme antreprenoriale din domenii diverse de activitate, pentru a le oferi servicii de audit financiar, due diligence, restructurări de grupuri, audit intern și alte servicii conexe activității de control intern. Este membră a celor mai prestigioase asociații profesionale din domeniu: ACCA (Association of Chartered Certified Accountants), CECCAR (Corpul Experților Contabili și Contabililior Autorizați din România), CAFR (Camera Auditorilor Financiari) și IIA (Institute of Internal Auditors). A absolvit EMBA Asebuss la Kennesaw State University, a fost trainer pentru cursuri IFRS și este invitată ca expert la numeroase conferințe de business. alina.fanita@pkffinconta.ro
