Previously, Sea/ spoke with M. Nadia Vincent (née. Marie Nadia Vincent), MBA, Digital Transformation Executive Advisor, Senior IT Management Consultant and Author, about her interest in digital transformation and delved into the Digital Age. Today, we discuss which sectors are digital-ready and discover Nadia’s signature formula for digital transformation success.
With over two decades of industry experience, which industry do you believe has been ahead / behind the curve in terms of digital transformation adoption rate and why?
In my opinion, the financial sector has been, and continues, to pilot the digital transformation journey. This is because it monitors and analyses data extremely closely which has allowed it to anticipate the curve and need for digital transformation before it became apparent.
Conversely, it may come as no surprise that the public sector is at the bottom of the adoption list. This may be because many do not consider this field as a business or perhaps, due to other constraints, there is not an urgency to implement new technology when existing solutions ‘do the job just so’.
Digital transformation is a complex process so who is responsible for steering the ship?
It is important to practice a top-down process where the C-suite lead the digital transformation journey and adopt a 360° approach for their organisation. It is important that the C-suite invest in their team and encourage individual transformation as everyone has a role to play in the organisation’s digital transformation journey. This ensures that the business is holistically committed to success.
In your book Leveraging Digital Transformation, you mention a formula to successfully implement digital transformation. What lead to this creation and can you share this with us?
Ten years ago, I was hired as a digital transformation consultant for a large organisation who had tried, and failed, to implement digital transformation internally for two years. After I successfully delivered the digital transformation programme, I suffered from burn out. So, I took the time to reflect on the lessons learnt from this programme and several other digital transformation initiatives that I had previously led. I realised that there was, and still is, a big misunderstanding when it came to digital transformation. This is why I created The Digital Transformation Success Formula and wrote my first book of the same name.
Digital transformation = (individual transformation X business transformation X technology transformation) ÷ fear
These are the four core factors that need to be considered to successfully implement digital transformation. Organisations need to invest in the team, think about how to implement solutions, ensure that they have the correct technology infrastructure and address any fears at each stage of the journey. Only then do they have the right approach to succeed.
As an industry veteran as a published author in this sector, what excites you most about digital transformation?
I am tremendously excited about the continued innovation across the globe. In my view, technology is the enabler however, we are the catalyst to innovation. I’m eager to see what the next game-changing innovations will be.