Where Should the Company's Digital Revolution Begin?
In a time of rapid change and intense competition, it is crucial for companies to adapt to the digital revolution, and manufacturing companies are facing significant transformations. The importance of embracing digitalization and automation for manufacturing companies to survive and thrive in the modern business world has never been bigger. However, there is a huge risk that companies get lost. I want to emphasize the need to start in the right place to create the conditions for successfully driving the necessary digitalization projects. It starts with the CEO and their management of the company. A digital system support for driving strategic initiatives and goals and effectively managing rapid changes at a company-wide level is lacking in most companies today, which poses a significant risk to the business community and its ability to succeed in digitizing other parts of the company.
We have witnessed extensive digitalization within companies, where different roles and departments have adopted digital tools and processes. However, it is important to note that the CEO role has often lagged behind. Despite other executive roles being digitized, which has proven crucial for the company's success and overall digitalization, the CEO role has not received the same digital support, and a majority execute their strategic goals and initiatives using analog tools like Excel, which is a significant contributing factor to the failure of 90 percent of strategic initiatives such as digitalization and automation.
The industry is undergoing a revolution in both AI and digitalization, and it is more important than ever for CEOs to be able to set clear priorities and follow up on implementation to ensure that companies maintain their relevance and competitiveness.
This is where digital goal management comes into the picture. By providing a platform that enables CEOs and management to quickly adapt the entire company to a changing market and new goals, digitized goal management is a prerequisite for the entire digital transformation. With goal management software, strategic initiatives and goals can be advanced in a clear, transparent, and efficient manner throughout the organization, and the need for this is crucial for companies to successfully navigate this transformation.
Productivity improvements and the importance of digitalization and the use of digital tools is highly relevant. It is clear that companies that do not embrace these tools risk falling behind and even failing. There are also many companies that will adopt digital tools but still fail due to a lack of digital tools to make the right things happen in time. Leading and operating a company analogously, without the right system support for the purpose, is inefficient, limits the capacity for cross-functional work, and takes too long, regardless of the strategic goals and initiatives a company pursues. To make businesses competitive, organizations must be governed and developed in a modern and digital way.
It is evident that we are facing a revolution. The question companies need to ask themselves is where the revolution should begin to have full impact. Too many companies start at the wrong end, resulting in many failures. It must start with the CEO and the CEO's ability to drive digital transformation.
As a CEO, one should take the lead in the digital transformation and ensure that the entire organization is on board. Navigating successfully through the digital transformation requires clear leadership and digital system support that enables smooth transition. By embracing digitalization and automation, CEOs can shape the future of their companies and secure their position in the fast-moving and competitive business world.
In a time of significant external disruption, where both AI and electrification are revolutionizing industries and forcing major transformations, I urge all CEOs to recognize the need for digitalization of their company's processes and tools to create a strong foundation for successful digital transformation. By embracing digital tools for goal management, companies can drive strategic initiatives such as digitalization and automation more effectively, rather than becoming one of the companies that succumb to the aftermath of rapid digitalization.
Per Forslund, President Howwe Technologies
Katarina Bennich
Chief Marketing Officer
katarina.bennich@howwe.io
Howwe Technologies AB (publ) is a Stockholm-based international SaaS company targeting larger organizations. Its SaaS application Howwe® is a proactive tool that helps organizations to execute their strategies better and faster by visualizing, steering, and measuring the business and strategy acceleration in real-time throughout the entire organization. Howwe helps its customers to create provable and measurable financial results.
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