With March Madness well underway, this blog miniseries showcases important modernization topics in a head-to-head matchup style. Installment #5 features what happens when you take a technology mindset vs. a holistic mindset to modernization.
Your legacy system can’t be upgraded, its performance is slow, the cost to maintain it is astronomical, and it can’t integrate with new processes. With technology believed to be at the epicenter of these problems, it’s very tempting to only focus on the technological aspect of legacy modernization. While it is an important aspect of modernizing, implementing the latest technology alone won’t make for a ‘slam dunk’ to keep a long-term competitive edge. A survey conducted in 2019 found that digital transformation risk was a #1 concern of CEOs, executives, and directors, yet 70% of all digital transformation initiatives did not reach their goals. With consensus on the importance of modernizing, why is there is such a disparity between the intended results and the actual results?
In this matchup, learn how adopting a holistic organizational mindset to modernization can help drive success, rather than focusing just on technology.
The Technology Mindset & The Myth Behind It
Organizations that solely focus on the technology aspect during modernization initiatives believe that technology will answer all of their problems and only plan for potential technology risks. This mindset lulls leaders into a false sense of security and is a common myth. The reality is that technology is a challenge and a driver, but other aspects involving people and processes need to be part of your strategy. Technology will change how people work and transform business operations, so it’s best to prepare for this from the start.
Why A Holistic Organizational Mindset Prevails
Taking a holistic approach to modernization is about looking at the big picture – structure, culture, talent, processes, and technology. You’ll notice technology is a part of this picture, but it’s not the only element. The all-encompassing mindset focuses on enabling agility across the organization to adapt and evolve with your customers’ needs. Successfully adopting this mindset includes:
- Establishing a purpose that aligns with your organization’s vision.
- Garnering executive buy-in early on in the process to help sustain the long-term momentum needed.
- Acknowledging modernization is not just an IT initiative; it is a company-wide journey throughout every department.
- Embracing a continuous approach that doesn’t have a start/end date, but one that can evolve with your organization to keep innovating and re-imagining.
- Cultivating a culture that can adapt to change and move with your organization, not against it.
- Developing talent that will grow with your organization and a plan to get the right resources in place.
To learn more about modernization approaches, contact us today.