Leading through change is a critical aspect of implementing new technology into an organization because with new tech comes many complexities that can create hiccups. Learn more below about steps that CEOs can take to ensure a smooth technological shift within an organization.
Why Businesses Need to Transform their Business Technology
Technology shapes the way that businesses operate. Innovative business tech can automate rote tasks like data entry, streamline complicated and time-consuming processes, improve the customer experience, change the way teams communicate, and much more.
Adopting new technology and being open to innovation has become a must for modern businesses, especially when it can provide such a deep competitive advantage over businesses in your industry that decide the status quo is good enough.
Businesses that push the boundaries and implement these new tools will see the dividends in multiple ways, including:
- More data collection, enhanced access to that data organization-wide, and more ways to use that data to make informed decisions
- An improved customer experience through automated engagement and customer service, an easier experience on your website, and quicker and more effective communication
- Increased agility
- More productivity from employees who can work alongside new technology or allow it to remove manual, repetitive tasks from their plate
- Higher profits (80% of businesses that undergo some form of digital transformation reported increased profits)
But, it’s not easy to smoothly implement advancements in tech when you have multiple teams and departments all using their own chosen technology or even each person who has established their own processes even if they’re inefficient or not secured.
Steps that CEOs Can Take to Lead Through Changes in Major Technology
Digital transformation is a necessity for modern businesses and, for successful implementation, effective leadership is needed to guide an organization through the sometimes-tumultuous moments during the adoption process.
But, the hard work tends to pay off. Organizations with leaders that display a desire to digitally innovate see 26% higher profits, 12% higher market caps, and 9% higher ROI.
So, to help those in leadership positions ease the transition from legacy technology to more modern solutions, we’ve listed a few steps to help lead through major technology changes in your organization.
Set Achievable Goals and Develop a Clear Strategy
First things first, an organization undergoing technology changes needs to have a plan in place and alignment between the top brass, your IT team, and the people who will be using the new technology every day.
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This is especially important when it comes to implementations which can be difficult and time-consuming as well as limiting production while people adjust. A streamlined plan for this can limit the downtime that occurs when transitioning and lower the amount of time it takes for people to adjust to new processes.
Ensure you’re providing your employees with the proper training they need to quickly grasp new innovations and that they have the time to adjust, try new things, and become accustomed to everything without pressure to meet certain demands.
Understand Your Organization’s Current Standing
In order to build a foolproof plan and choose the right technology strategy, leaders need to truly understand their organization’s technology environment. The only way to do this is to connect with experts, whether it’s your internal IT team or hired external experts, who can audit your tech stack and provide a detailed report about how tech is being used in different teams.
Once you have a better idea of your overall infrastructure, you can start developing a strategy to bring in more modern technologies and a plan to implement it successfully organization wide.
Plan for the Long Term
Like most things in the business world, technology is always changing and new innovations spring up often. While updating your tech to modern standards is necessary, it’s not always enough. It’s now a must to keep your finger on the pulse on the evolution of business technology to ensure you’re always utilizing the latest technology to continue providing a next-level experience to your customers and your employees.
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A long-term technology strategy helps make this happen by keeping one eye on the present and one looking into the future, preparing your business for the inevitable new technologies that are just over the horizon.
Though some things can be left to internal teams to complete, sometimes a technology plan is so vast and complicated that bringing in external help is necessary. A managed service provider (MSP) can give an organization access to equipment and expertise that’s needed for the effective implementation of new technologies. They can also help keep you at the forefront of business technology to ensure you never fall behind by helping you establish a long-term plan as we discussed in the last step.
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Measuring the ROI on Technological Innovation
Analyzing the ROI of technological innovations can be difficult, but it is possible, especially if you understand how technology helps even if it’s not directly leading to additional sales. Start by asking these questions:
- What challenges are being solved by this new technology?
- How does this technology help drive results?
- What KPIs will determine success for a digital transformation?
Asking questions like these will help you determine the overall impact that the technology has on a business whether it’s simplifying processes to increase production or making employee lives easier and improving work quality. Sometimes the successes of new tech can be measured in numbers and sometimes it can’t.
Tech ROI also comes in the form of money savings by eliminating wasted time spent on rote tasks or removing the need to maintain older equipment.
Much of the measurement of ROI comes back to the goals and the plan you established as part of the implementation steps. Did this technology meet the goals you set that you previously determined would define success?
Leading through change at any point can be stressful whether it’s swapping out a legacy system for something more modern or introducing new technology to take over and streamline old processes, it takes time, a plan, and mental adjustments by everyone to make it work.
As leaders of an organization, it’s the CEO’s job to ensure everyone is on board and understands why changes are being made, to understand what’s needed within your organization, and to establish a plan for successful and pain-free implementation.
Check out our eBook, Fast-Tracking Your Digital Transformation, to get more insights into why businesses need to stay at the forefront of business technology and how it can be done with minimal disruptions to your overall business operations. Access the eBook now.