Choat via Adobe Stock New technology initiatives often fail to deliver real value for businesses, leaving C-suite leaders to deal with the lack of tangible outcomes. In PwC’s latest Pulse Survey , 88% of executives said their companies struggle to capture value from their tech investments. How can you avoid being part of that group and take a new approach that will demonstrably achieve digital transformation goals? Moving forward with a strategic vision, a clear understanding of what success may look like and an appreciation of the breadth of change management is central to digital transformation. Common pitfalls that hinder tech investments from creating value include misalignment with business objectives, lack of user adoption, emphasizing tools over strategy, confusion on how to capture value and ignoring cultural fit. To overcome these challenges, we recommend taking a better approach to modernization. By viewing each product as an ecosystem with defined inputs, interactions and outputs, businesses can extract more value. Taking a deep dive into specific modules allows companies to concentrate their resources on solving vertical challenges, which include clear business problems such as reducing inventory or improving turnaround time. Working across different technologies, processes and functional departments helps to drive […]
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