Digital transformation has become essential as businesses shift from local to global and competition rises fiercely. According to a study by IDC, global spending on digital transformation is expected to reach $2.3 trillion in 2023, highlighting the increasing importance of digital transformation in the business world.
Embracing technology innovation is a way to develop a comprehensive view of the project management lifecycle. It helps to understand how to leverage people, processes, and projects to achieve digital transformation. However, true digital transformation is not simply about digitizing existing processes. It requires a new business model, new strategy, and new ways of working.
A lack of strategy change sets any project or implementation plan up for failure. According to a report by McKinsey, 70% of all digital transformations fail. Some challenges that can lead to failure include unclear project goals and vision, unworkable deadlines, ineffective communication, and unidentified skills of the project team.
Privio Center is a tool that can help account for these major challenges right from the project planning phase, before they escalate and become a burden to you and your team members. In fact, according to a survey by Capterra, 66% of businesses say that project management software helps them complete projects on time and within budget.
Privio Center’s Dashboard feature allows you to keep track of every move among different teams, to form a solid structure in place and tackle the issues that may arise. It is well equipped to develop metrics to measure performance, track those metrics, and get your team to report on them. According to a study by PwC, 77% of executives say that digital technology is causing them to rethink their customer experience.
With Privio Center, you can not only deliver a better customer experience but also ensure the successful completion of projects and digital transformation initiatives. Implementing Privio Center can help businesses address some of the significant challenges that come with digital transformation, such as unclear project goals and vision, unworkable deadlines, ineffective communication, and unidentified skills of the project team.
Using the Dashboard feature in Privio Center, businesses can track their team’s productivity, performance metrics, and progress in real-time. With all the necessary information and updates available in one place, businesses can ensure that their projects are on track and successful in achieving digital transformation goals.
In conclusion, the integration of digital technology into different areas of business has become essential in today’s global marketplace. Digital transformation requires more than just digitizing existing processes; it requires a new mindset, new strategies, and a willingness to embrace innovation. With Privio Center, businesses can successfully navigate the challenges of digital transformation and emerge stronger, more efficient, and more competitive than ever before.
- Digital transformation market size: https://www.globenewswire.com/news-release/2020/06/09/2045905/0/en/Digital-Transformation-Market-to-Reach-1-009-8-Billion-by-2025-at-a-CAGR-of-18-5-Global-Analysis-by-Market-Research-Future-MRFR.html
- Importance of digital transformation: https://www.forbes.com/sites/forbestechcouncil/2021/03/25/digital-transformation-is-more-important-now-than-ever-before/?sh=13cf99456ed3
- Digital transformation success rate: https://www2.deloitte.com/us/en/insights/topics/digital-transformation/digital-maturity-and-digital-transformation-success.html