A Five-Step Digital Transformation Plan For ICT And Media Companies

- Ingo Piroth

Being in the throes of sweeping technological changes, digital transformation has always been a priority for companies operating in communications, media, and technology sectors. Facing tough competition, churn, and constant change, many companies tend to pursue the same digital initiatives as their peers play ‘catch up’, acting on the fear of missing out, or worse, fearing extinction. Such frenzied implementation of digital transformation projects is often misguided, and gives mixed to negative results, which further fuels skepticism.

Though companies in communications, media, and technology sectors share the common goal of accelerating their product and service delivery, most are invariably hazy about the specific digital transformation that truly fits them. It helps to stop, think, and ask questions to arrive at the right mix of digital transformation that they can readily pursue. How do people, processes, and technologies come together to solve existing problems? More importantly, where, and how to start the digital transformation?

At the base level, most companies in these sectors share these five common business imperatives while pursuing digital transformation. Here is a ready-reckoner that elaborates these five imperatives as a five-goal approach that companies operating in the communications, media and technology sectors need to pursue.

GOAL 1: ACCELERATE PRODUCT DEVELOPMENT