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Most major consultancies agree that no matter how awesome your tech is, your Digital Transformation efforts appear doomed from the start. In 2016, Forbes assessed the risk of failure in Digital Transformation to be 84%. According to McKinsey (70% in 2019), BCG, KPMG, and Bain & Company, the risk of failure falls somewhere between 70% and 95%. Why? Because 𝐭𝐞𝐜𝐡 𝐢𝐬 𝐨𝐧𝐥𝐲 𝟐𝟎% of the equation.
Here are reasons why Digital Transformations keep failing:
1. Lack of effective change management and user training.
2. Insufficient leadership support and decision-making.
3. Business units' misunderstanding of their roles and objectives.
4. Neglecting the human aspect of stakeholders.
5. Absence of clear vision and alignment to business outcomes.
6. Inadequate consideration of necessary tools and tactics.
7. Difficulty in managing external vendors.
8. Implementing changes on the fly without a structured plan.
9. Lack of long-term commitment and resources.
10. Challenges related to people's mindset and adoption.
What do you think is the most critical factor contributing to the high failure rate of Digital Transformation efforts?
Here are reasons why Digital Transformations keep failing:
1. Lack of effective change management and user training.
2. Insufficient leadership support and decision-making.
3. Business units' misunderstanding of their roles and objectives.
4. Neglecting the human aspect of stakeholders.
5. Absence of clear vision and alignment to business outcomes.
6. Inadequate consideration of necessary tools and tactics.
7. Difficulty in managing external vendors.
8. Implementing changes on the fly without a structured plan.
9. Lack of long-term commitment and resources.
10. Challenges related to people's mindset and adoption.
What do you think is the most critical factor contributing to the high failure rate of Digital Transformation efforts?
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