Why Do Fewer Than 3 out of 10 Company’s Digital Transformations Succeed?

According to insurance executives, almost 3 out of 4 efforts to digitally transform business operations within companies fail to capture any perceivable or at the least quantifiable advantages in return for the effort and expense. 

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In this recent article, a pair of insurance executives explains the root cause of those failures as ‘the human factor’ where misalignment of goals and incentives across an enterprise leads to undesirable outcomes.

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To best overcome the element of human error that’s undermining business objectives when undertaking digital transformation, the authors recommend ensuring that the company’s grander vision is made clear to employees as a complete picture and emphasizing how and where employee and enterprise goals are aligned in everyone’s favor.

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The authors describe the completion of a successful digital transition as connecting the three corners of a triangular shape - leadership’s vision, customer needs, and employee processes.

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You can read more about how to avoid the human factor pitfall when executing a digital transformation here.