There seems to be little doubt that the most attractive part of the UK software and IT services market today is the part that involves helping customers to capitalise on digital technologies. Recognising this, several major software and IT services companies have embarked on programmes to transform their businesses so they can help their clients embrace digital technologies more effectively.
Yet leading commentators (such as TechMarketView) still only forecast meagre growth (2.1%) for the overall software and IT services market in the UK this year. So if you’re a software or IT services business that’s transforming its proposition to a digital one, what are some of the ways you can steal a march on the competition and grow your digital business faster than the rest of the market?
7 Critical Success Factors for Business Transformation
Executing the transformation programme successfully is clearly going to be one of the keys to success. Our experience, coupled with research from leading sources, suggests that there are seven critical success factors that underpin successful transformation programmes. These are:
Establishing a sense of urgency for the move to digital
Creating a clear and compelling case for the change with clear executive sponsorship, that (amongst other things) articulates the opportunity in the market and the consequences of not capitalising on it
Aligning the executive team with the proposed direction of travel
Managing the change programme in an effective and holistic manner
Quickly demonstrating the difference that the move to digital is making
Engaging everyone in the organisation and equipping them with the skills, processes and tools they need to market, sell and deliver digital propositions
Putting in place measurement and reward systems that encourage a focus on digital.
3 Key Opportunities for Digital Businesses
The second is winning and delivering digital business more effectively than your competitors. So what are the key opportunities we see for software and IT services businesses to acquire and deliver digital business more effectively? The recurring openings we see are:
Raising ideal customers’ awareness of an organisation’s digital offerings or capabilities, so customers know that a conversation about digital is likely to be beneficial
Engaging ideal customers in conversations about the key business issues they are facing and how digital can help address them before they ask for help or start to procure digital services
Partnering more effectively with other organisations that have deep and complementary digital capabilities to provide credible offerings or services in the short (or possibly longer) term.
So What Now?
So if you'd like to learn how you can execute the transformation of your programme and win and deliver digital business more effectively than your competitors, let's talk. Each month we’re offering a limited number of complimentary, 1-on-1 Digital Growth Sessions. On these calls our firm's founder, Graham Kennedy, will offer you suggestions for your specific situation so that you can accelerate the growth of your digital business.
About the Author
Graham is an experienced strategy and transformation consultant who developed his expertise working for organisations such as Accenture and A.T. Kearney.
He helps executives in software and technology businesses to grow their profitability, pipelines and revenues more quickly. Typically he helps them clarify the key barriers that are inhibiting them from achieving their growth objectives and introduce ways of overcoming those barriers so they reach their goals more effectively and efficiently.
In today’s markets, these barriers often revolve around:
Filling the pipeline with opportunities to engage new clients
Increasing the effectiveness of marketing and sales activities
Being clear about the digital services that an organisation should develop.
He is also passionate about harnessing science and technology for the maximum benefit of society.