Top Digital Transformation Consulting Firms
Digital transformation consulting firms are on the rise, as businesses look for new and innovative ways to improve their efficiency. As we move into the “information age,” transformation efforts need to be accelerated to remain competitive. The need for assistance is evident. As a report from The McKinsey Global Institute shows, firms will continue to outsource as they seek new and cost effective ways to do business. In order to thrive, companies need to hire the right consultants.
Top digital transformation consulting firms are expected to be those that can solve business problems in an innovative and creative way. McKinsey identifies four stages of digital transformation: Innovation, Customization, Commercialization and scaling. Transformation initiatives should begin with an innovation strategy, aiming at improving productivity, lowering costs and increasing innovation. Next, companies need to define their expectations, in terms of what they want and how much they are willing to pay for them. Once these are established, a new strategy can then be developed.
Transformational change is about rethinking the system, rather than simply reorganizing. Just as Walmart’s strategy changed from building a “store on the street” to creating an online store, transformation efforts need to evolve. Companies need to align their actions with their goals. They cannot simply go through the motions, as they will have to lose productivity and suffer a backlash from customers who don’t see the value of the changes. Going forward, transformational change should include adoption of a balanced approach, which should include internal and external design strategies, strategic planning, improvement processes and metrics.
On the other hand, the third stage of digital transformation consulting is the development of an operational strategy. It includes defining the company vision and mission, aligning the activities of higher management, suppliers, employees and consumers, and identifying the drivers of change. The next stage involves execution of the plan to ensure it is successful.
Finally, digital transformation consulting firms should provide continuous support and help to the implementation team. They should understand the current status and recommend any necessary adjustments. This is where most firms fall short. Their support is insufficient and they are only concerned with the revenue, while not really helping to make the business work.
Top firms will also consider the impact of the digital transformation, as well as the long-term goals. There is no point in going through the motions if the business cannot achieve its long-term objectives. The transformation plan should include a strategic framework, goals, and timelines. A digital transformation consulting firm should be able to help determine how the plans are being implemented and managed. It should also have the capability to assist the organization with the implementation of the transformational change.
Top firms should be willing to provide periodic training. In fact, this training should be varied and exhaustive. The training should cover internal controls, delivery, use of technology and analytics, and recommendations. The training should cover the operational functions of the organization, but it should also cover what the customer needs to know. All these should be part of the core competency of the firm.
At the end of the day, it is the capability to identify problems, provide solutions, and train the people that matter that makes the difference between top firms and those that just appear to be able to offer the same services. When looking for top digital transformation consultants, the organization must be able to check all these boxes. If it does not, then it might want to go on and look for a different consultant.
The costs of hiring such a person are another consideration. This will need to be in line with experience and the kind of service that the firm provides. There are some firms that can hire one or two people for a minimal fee and still provide the same quality of service. There are also firms that require a hefty retainer and annual maintenance fees to keep the people on the payroll.
Last but not least, you need to look at the past performances of such a person. If a company has been around for a while, then that could be a sign of the quality that they provide. Otherwise, you might want to consider working with a new firm. Take a look at their portfolio to get an idea of what kind of projects they have handled in the past.
Working with top digital transformation consulting firms requires careful evaluation and selection. There are a lot of opportunities out there, so it is important to choose one that is perfect for your needs. Keep these factors in mind when you are trying to find the right firm for your project. It will help to keep an eye out for all of these things when you are trying to make your transition into a digital transformation. You will be able to get the services that you need to successfully complete any of your projects.
Deepak Wadhwani has over 20 years experience in software/wireless technologies. He has worked with Fortune 500 companies including Intuit, ESRI, Qualcomm, Sprint, Verizon, Vodafone, Nortel, Microsoft and Oracle in over 60 countries. Deepak has worked on Internet marketing projects in San Diego, Los Angeles, Orange Country, Denver, Nashville, Kansas City, New York, San Francisco and Huntsville. Deepak has been a founder of technology Startups for one of the first Cityguides, yellow pages online and web based enterprise solutions. He is an internet marketing and technology expert & co-founder for a San Diego Internet marketing company.