IT Brief Australia logo
Technology news for Australia's largest enterprises
Story image

10 things business leaders need to know about digital transformation

By Ashton Young
Thu 16 Nov 2017
FYI, this story is more than a year old

Article by Greg O’Loan, regional vice president of ANZ for Epicor Software Digital transformation is not just a phase or a buzzword. Business leaders are realising the important role technology is set to play in their growth strategies. A recent Gartner report states that the number of CEOs ranking IT as a priority has risen from 19 per cent in 2016/17 to 31 per cent in 2017/18. As more people rely on connected devices, businesses must adapt their products, services, and processes accordingly.   Society and technology are changing faster than most companies can adapt. From enterprise resource planning (ERP) to cloud computing, new tools, platforms, and channels are creating unprecedented opportunities to connect with customers and improve processes. However, only the businesses agile enough to transform and adapt to these new digital realities will be able to achieve the competitive advantage promised by digital transformation. The reality is that digital transformation will require some difficult choices to be made to ensure organisations are not dragged along or left behind. Transformation on this scale will fundamentally shift how businesses operate, so organisations should consider the following 10 key tips to help them navigate the journey. 1. Focus on the right level of change New digital technologies should deliver better, more streamlined business operations that will drive competitiveness and growth. Business leaders should focus on where digital transformation can deliver the most benefits and add the most value.  2. Choose the right technology for the business Technological investment is crucial to growth, however, sometimes less is more. Technology, used correctly and to its full potential, can radically improve business operations by empowering employees, driving efficiencies, and increasing agility. By contrast, deploying technology for no real reason can be self-defeating. Being open to the transformative impact of new technologies is one of the most important considerations for organisations. The latest study from Epicor on worldwide growth trends found that companies in high-growth markets demonstrated a strong inclination to invest in technology to empower their workforces, drive efficiencies, and increase agility. For example, around three quarters (74 per cent) of Chinese firms cited IT investment as important, compared to a global figure of 54 percent. The study also found that 62 percent of Australian respondents agree that IT investment is a high priority for their business, higher than the global average of 54 percent. 3. Consider where the company is on its digital transformation journey It can be challenging for business leaders to keep on top of the latest technology trends and solutions being launched in the market. Different solutions provide new ways for businesses to reduce costs, and improve the customer experience and the business’s bottom line.  Many competing technologies profess to drive digital transformation. However, the usefulness of solutions depends on which stage the organisation is at in its transformation journey.  4. To ensure employee buy-in, business leaders must drive the digital transformation process There’s no single roadmap for digital transformation, and the path is different for every business and industry. However, one common thread is that business leaders must attempt to obtain employee buy-in from the beginning. This requires a commitment to digital technology from the boardroom down to all levels of staff. Organisations need leaders with the right mindset and motivation to lead the digital transformation process. 5. Understand and use data for insights Companies that undergo a true digital transformation process place data and information at the centre of their technology-focused business models. Many leaders are shocked to discover just how much information they had available but were not using effectively. Integrated business data is the fuel for any digital transformation journey, so unlocking its value is critical to success in the current environment. The new data landscape provides business leaders with unique opportunities to turn data into insights, with real-time updates powering better decision-making. Forrester research has found that more than 70 per cent of decision-makers use initiatives to encourage more data-driven decisions. Unlocking the value of integrated business data is critical for success in today’s marketplace.  6. Embrace change as part of a wider growth strategy Change is a constant in today’s marketplace. Business leaders must be realistic about what can be achieved in a short period of time. When innovation is driven by rising consumer expectations, growing companies should have specific short-terms goals that embrace innovation and business change as part of a wider transformation journey for growth.  7. Keep an eye on the competition  It is crucial for business leaders ensure digital potential is translated into competitive advantage. This requires leaders to champion the deployment of flexible, digital technologies that can change the way the organisation engages with their customers.  Gartner states, “Technology shapes business strategy, but market, political and financial factors prevail. Embracing the correct digital technology can bring employees together, let businesses expand into new geographical locations with minimal resources, and make the product development lifecycle more responsive to consumer demands than ever before.” 8. Encourage collaboration across departments and divisions New solutions must be aligned with a bigger mission, such as to evolve internal processes, structure, and culture, or to match the evolution in customer behaviour. However, when new technology is introduced, a disconnect can be created between employees and the challenges the organisation is attempting to solve. Business leaders must consider how they communicate both internally and externally, the strengths and weaknesses of employees as a group, and whether employee skills are fit for purpose. Business leaders should question whether they need staff with more advanced digital skills to assist in the transformation journey. 9. Align with customer expectations  The speed at which digital trends are impacting every part of business operations will not slow down. It is the same playing field for all competitors and every start-up attempting to steal market share. Customers expect organisations to embrace digital transformation because they are doing so, and businesses need to join them on the journey. 10. Walk the walk To make digital transformation successful, high-growth companies don’t just pay lip service to ideas surrounding new technology and innovation. Rather, they back them up with investment. Recent research on worldwide growth trends by Epicor found that in the coming year, 88 per cent of high-growth companies are planning significant investments in technology and innovation, while only 49 per cent of slow-growth companies are doing so. Digital transformation is different for every business. While some organisations will have more challenges than others, and some will embrace more technologies than others, being aware of these 10 considerations will help every business that is embarking or has already embarked on this journey.

Related stories
Top stories
Story image
Cybersecurity
Cybersecurity prompts upgrade for 1.3 billion electricity meters
ABI Research finds Advanced Metering Infrastructure (AMI) and cybersecurity concerns are prompting the upgrade of 1.3 billion electricity meters by 2027.
Story image
Women in Technology
Huawei webinar emphasises the importance of women in tech
Industry findings by Coursera discussed as part of a webinar jointly organised by Huawei and Reuters Events found 6% more women enrolled in tech courses this year than in 2021.
Story image
CrescoData
SPS network now available to CrescoData eCommerce customers
CrescoData, a Pitney Bowes Company and PaaS business in the commerce space, says its customers can now connect to the SPS Commerce Retail Network.
Story image
Digital Marketing
Similarweb acquires SEO and rank tracking company Rank Ranger
Digital intelligence company Similarweb, which specialises in analysing web traffic, has acquired Rank Ranger, a market leader in SEO and rank tracking.
Story image
Training
Trojan cyber attacks hitting SMBs harder than ever - Kaspersky
In 2022 the number of Trojan-PSW detections increased by almost a quarter compared to the same period in 2021 to reach 4,003,323.
Story image
Remote Working
Australia’s remote workers face connectivity and security issues
SOTI's new report finds better video conferencing technology and improved security measures are top concerns for remote workers in Australia.
Story image
Nozomi Networks
Nozomi Networks, Siemens reveal software integration
Nozomi Networks and Siemens have extended their partnership by embedding Nozomi Networks’ software into the Siemens Scalance LPE local processing engine.
Story image
Digital Transformation
The Huawei APAC conference kicks off with digital transformation
More than 1500 people from across APAC have gathered for the Huawei APAC Digital Innovation Congress to explore the future of digital innovation.
Story image
Sift
Sift shares crucial advice for preventing serious ATO breaches
Are you or your business struggling with Account Takeover Fraud (ATO)? One of the latest ebooks from Sift can provide readers with the tools and expertise to help launch them into the new era of account security.
Story image
Ransomware
Cybersecurity starts with education
In 2021, 80% of Australian organisations responding to the Sophos State of Ransomware study reported being hit by ransomware. 
Story image
Cybersecurity
More than 40% of banks worried about cloud security - report
Publicis Sapient's new report finds security and the lack of cloud skills and internal understanding of business benefits are big obstacles for banks moving to the cloud.
Story image
Cybersecurity
A10 Networks finds over 15 million DDoS weapons in 2021
A10 Networks notes that in the 2H 2021 reporting period, its security research team tracked more than 15.4 million Distributed Denial-of-Service (DDoS) weapons.
Story image
Sustainability
Equinix announces milestones on sustainability commitments
Equinix has released its 2021 Sustainability Report which outlines progress, innovation and accomplishments on key ESG commitments.
Story image
Cybersecurity
Comcast to use ThreatQuotient for cybersecurity operations
Comcast, the parent company of NBC Universal and SKY Group, has chosen ThreatQ Platform and ThreatQ Investigations to meet their cybersecurity needs.
Story image
Malware
New vulnerabilities found in Nuspire’s Q1 2022 Threat Report
“Threat actors are quickly adjusting their tactics and these exploits tend to get industry attention, but the threat posed by older and attacks still persists."
Story image
Wireless
Cradlepoint expands its Cellular Intelligence capabilities
Cradlepoint has announced additional Cellular Intelligence capabilities with its NetCloud service.
Story image
Innovation
Fastly acquires Glitch, enables faster developer innovation
"This acquisition brings together two of the worlds best ecosystems for application development into a single, seamless developer experience."
Story image
Attain
Revenue operations is taking centre stage
As the business world continues to evolve, new demands need to be met to keep up with the ever-changing landscape. 
Story image
Silver Peak
The path to an adaptive, modern network
Managing and securing the network looks different than it did just two years ago—especially given that most of these networks are made up of multi-generations of infrastructure stitched together over time.
Story image
ChildFund
ChildFund launches new campaign to protect children online
ChildFund says WEB Safe & Wise aims to protect children from sexual exploitation and abuse online while also empowering them to become digitally savvy. 
Story image
Cloud Security
Aqua Security createa unified scanner for cloud native security
“By integrating more cloud native scanning targets into Trivy, such as Kubernetes, we are simplifying cloud native security."
Story image
Microsoft
New Relic enters multi-year partnership with Microsoft Azure
New Relic has announced a strategic partnership with Microsoft to help enterprises accelerate cloud migration and multi-cloud initiatives. 
Story image
Employment
Tech job moves - Forcepoint, Malwarebytes, SolarWinds & VMware
We round up all job appointments from May 13-20, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Qualys
Qualys updates Cloud Platform solution with rapid remediation
The new update is designed to enable organisations to fix asset misconfigurations, patch OS and third-party applications, and deploy custom software.
Darktrace
Threat actors are exploiting weaknesses in interconnected IT/OT ecosystems. Darktrace illuminates your entire business and takes targeted action to stop emerging attacks.
Link image
Story image
VPN
The most common online scams in Australia
No one is safe from online scammers, and many of these scammers have capitalised on the pandemic, using this confusing time to attack more people than ever.
Story image
Digital Transformation
The impact of COVID-19 on healthcare environments and care delivery
The COVID-19 pandemic has revolutionised the healthcare industry while overcoming staff shortages, social distancing requirements, and lockdowns.
Story image
Remote Working
Successful digital transformation in the hybrid work era is about embracing shifting goalposts
As organisations embraced remote working, many discovered they lacked the infrastructure needed to support history’s first global load test of remote work capabilities.
Story image
Artificial Intelligence
How to ensure ethical deployment of AI implementations
The increase in automation and machine technology such as AI and machine learning has unlocked a whole new level of scale and service to organisations. 
Story image
Migration
Let’s clear the cloud visibility haze with app awareness
Increasingly, organisations are heading for the cloud, initiating new born-in-the-cloud architectures and migrating existing applications via ‘lift and shift’ or refactoring.
Story image
Excel
Could your Excel practices be harming your business?
While Excel has been the de-facto standard for budgeting, planning, and forecasting, is it alone, enough to support organisations in the global marketplace that’s facing rapid changes due to digital transformation?
Story image
Data Center
Preventing downtime costs and damage with Distributed Infrastructure Management
Distributed Infrastructure Management (DIM) can often be a lifeline for many enterprises that work with highly critical ICT infrastructure and power sources.
Story image
Vectra AI
Understanding the weight on security leader’s shoulders, and how to shift it
Millions of dollars of government funding and internal budgets are being funnelled into cybersecurity to build resilience against sophisticated threats, indicating how serious this issue has become.
Story image
Manufacturing
HINDSITE wins Aerospace Xelerated Pitch Challenge with solution to support Boeing
Brisbane-based startup HINDSITE was the winner of the first ever Pitch Challenge organised by Aerospace Xelerated in partnership with Queensland XR Hub. 
Story image
Infrastructure
Nutanix study reveals financial services sector lagging with multicloud adoption
Nutanix has released new research that reveals the financial services sector is lagging behind when it comes to multicloud adoption.
Story image
Sisense
Data and analytics could be key to higher selling prices in APAC
Sisense's latest report has found that almost half of data professionals in APAC think customised data and analytics can create better selling prices for their products.
Story image
Apricorn
Data backup plans inadequate, data still at risk - study
The Apricorn 2022 Global IT Security Survey revealed that while the majority organisations have data backup plans in place, data for many are at risk.
Story image
Digital Transformation
Pluralsight and Ingram Micro Cloud team up on cloud initiative
Pluralsight has teamed with Ingram Micro Cloud to build upon cloud competence and maturity internally, and externally support partners’ capabilities.
Story image
Data Protection
Barracuda launches new capabilities for API Protection
"Every business needs this type of critical protection against API vulnerabilities and automated bot attacks," Barracuda says.
Story image
Broadband
Telstra enters into new RSP agreement with Opticomm
Telstra has entered into an RSP agreement with Opticomm (A Uniti Group Limited subsidiary) to provide network fibre services to customers.
Story image
Customer experience
Gartner recognises Okta for abilities in Access Management
Okta has announced it has been recognised as a Customers' Choice for the fourth time in a row in the Gartner Peer Insights "Voice of the Customer" report.
Exabeam
Find out how a behavioural analytics-driven approach can transform security operations with the new Exabeam commissioned Forrester study.
Link image
Story image
Application Security
What are the DDoS attack trend predictions for 2022?
Mitigation and recovery are vital to ensuring brand reputation remains solid in the face of a Distributed Denial of Service (DDoS) attack and that business growth and innovation can continue.
Softiron
For every 10PB of storage run on HyperDrive vs. comparable alternatives, an estimated 6,656 tonnes of CO₂ are saved by reduced energy consumption alone over its lifespan. That’s the equivalent of taking nearly 1,500 cars off the road for a year.
Link image