Today, we are in the age of the fourth industrial revolution, something that unites the physical, digital, and biological worlds - and requires businesses to be more innovative and agile than ever before. As a result, companies with traditional business models are finding it hard to stay upbeat against market competition. It is predicted that only companies who will focus on utilizing unconventional business models and next-gen tech will be able to uphold a competitive edge presently. Digital transformation, along with digital transformation services providers are emerging as key enablers for companies to sustain in this next phase of the industrial revolution.
Digital transformation might have a different connotation for every industry or company, but if you want to stay competitive, customer-centric, and become more efficient- modernizing your business in this digital age is crucial. Often companies fail to adapt to new technologies because of their inability to select the right digital transformation partner who integrates and implements the right digital capabilities in their organizational ecosystem.
Needless to say, you don’t want to be in the pool of companies who lack knowledge about how to choose the right business transformation partner. Apart from choosing the right partner, involving the right people is also crucial when you think of business transformation as it is more about the cultural and mental shift. Successful digital transformation also requires strategic utilization of your company’s resources.
Another mistake that companies make while selecting a digital transformation company is they focus on the list of features or functionality that they want, which is entirely wrong, You should think about features when you have finalized your mission and goals behind this business shift. Ideally, your technology partner should also align with your mission and busines goals you aim to achieve as part of your transformation journey.
Evaluating your technology partner on multiple criteria is important to guarantee success in your business transformation. There are certain factors that you should consider to find an ideal digital transformation partner for your business. But before that, let’s first get the basics right:
Digital transformation, in simplest terms, refers to the incorporation of digital technologies into all areas of the business to keep up with changing market trends and deliver value to your customers. It’s more about a cultural shift in an organization where people are asked to continually challenge the status quo, innovate, and engage more with customers.
Digital transformation is reimagining your business in the digital age and it all begins with how you think about your business and what experiences you deliver to customers. It urges businesses to think beyond traditional work methods and tools to future-proof your business, In short, thinking, promoting, and building digitally so you become more agile, flexible, and sustainable.
It also means adding value to your every customer interaction by eliminating their pain points through the use of digital data and technologies. Digital transformation delivers many benefits to businesses, including:
- Improved business decision making
- Higher organizational productivity
- Enhanced customer experiences
- Improved operational efficiency
- Streamlined communication
- Faster time to market
Because digital transformation transcends so many benefits you need to think strategically about how you should begin such an initiative. Choosing the right technology consulting partner is equally important.
Let’s discuss the key points that you should consider when choosing a digital transformation consulting partner:
The digital transformation partner you choose should be someone who has a keen interest in understanding your business goals, your existing process, and the ideal technologies that would suit your business for improving operational efficiency. Your partner should definitely be more than just a technology vendor; it should be an innovative product engineering company with expertise in delivering digital disruption. They should know the reasons why your business is lagging behind the competition. They must be able to define a solid digital transformation strategy and execution plan based on your current business goals like:
- Development of a connected product portfolio
- Validation of current business pain points and resolution
- Improved in customer satisfaction and engagement levels
- Strengthening the current market position
- Application of data analytics for internal process optimization
- Speed up the product development process
Choosing the right vendor is always a difficult task for companies embarking on their digital transformation journey, It is not similar to choosing an enterprise software development company to build your next solution. Your criteria to choose the partner should be based on their expertise in leveraging futuristic technologies like artificial intelligence, advanced analytics, machine learning, and others.
You need AI and Analytics solutions to automate repetitive tasks, reduce manual workloads, and improve turn-around time for your business. Managing all such new and specialized solutions obviously require expertise and experience in handling real-time, complex projects. So, focus on finding partners that are digital leaders and have experienced in leveraging a wide array of emerging technologies.
Clear communication between teams is extremely crucial to keep everyone fully aligned in a project. The same applies to digital transformation projects. When you work with an outsourced consulting partner you should ask them about the communication strategy they follow during client engagements, Ask your potential partner to walk you through their onboarding process assuming the agreement is signed. This will help you get a better idea of whether your partner’s ways of working align with your vision or not. Document the entire process of how communication and synchronization will work between both of you. Consider things like:
- If there are conflicting time-zones, how your partner will manage the communication?
- Ask about the availability of teams and their strategy development process.
- What would be the level of involvement of both parties on different project aspects
Remember, digital transformation is not only about the tech. There might be significant operational challenges that are preventing your business from passing through the digital revolution. So when you check your potential partner industry experience, don’t solely focus on what tech they use or how many clients they work with. You should also analyze your vendor mindset and their approach towards digital transformation for every client. Evaluate your partner case studies and figure out the top ten clients similar to your domain to communicate further Inquire your partner’s past clients to know how satisfied they are with the solution delivered.
This is one of the most crucial factors you should consider when evaluating your potential business transformation partners. Analyze things like how devoted your potential vendor is to support your business during difficult times. Are they ready to go a step further or work outside their comfort zone to fulfill your project expectations? Does your partner stick to their pre-set working procedures? How many times they have gone the extra mile to deliver extraordinary results in their past client projects? Are they ready to take additional responsibility when it is required the most? These are the questions that need careful consideration from your end before making a decision.
The synergy between the work ethics, thoughts, priorities, and processes of your partner should be similar to yours to proceed in the same direction during the digital transformation project. It’s vital your partner understands and respects your goals of digital transformation. That’s the only way they can build an ideal digital transformation strategy for your business to help you realize your goals. To check whether your partner has that ability - share your transformation goals and ask them to come up with an execution plan. And, see whether it validates your idea or not.
There is no fixed formula to find out the best digital transformation partner for your business just like there is no common way to business transformation. Every company has unique needs and problems so your partner should always be someone who understands your business goals perfectly and know what it takes to deliver an optimal digital transformation solution.
Some obvious factors you should consider when evaluating a consulting partner are experience, portfolio, and expertise in your industry. Your technology partner should be versatile, agile, innovative, and share the same values as you.
Therefore, the final choice should be someone who has a groundbreaking record of success across industries and has a knack for working with next-gen technologies. Your partner firm should be able to analyze your digital transformation problem statement succinctly with unified solution capabilities.