It’s easy to view digitalization as a cost centre – something that only drains resources without generating immediate results. This mindset is short-sighted and misses the long-term benefits of digitalization. By instead seeing digitalization as a continuous process, companies can break down large investments into manageable milestones. Each step is evaluated based on how it contributes to business goals and delivers a clear ROI.
A common mistake is trying to understand the full scope of a digitalization initiative at once and setting a static budget for the entire journey. The result is often fear of the numbers, viewing it as an expensive one-time cost. But digitalization is not a project with a fixed endpoint – it is a dynamic process that requires continuous investments and updates.
Technology constantly evolves, just like a company's needs. Therefore, it’s better to see digitalization as a continuous process where the initiative is broken down into smaller milestones, and each step is evaluated in terms of how it contributes to the company’s long-term business objectives.
You have to view digitalization as a continuous process. It’s not just about one initiative or a single digital project – technology is a toolbox used to achieve long-term business goals.
Oskar Lundgren, CEO at Meta Bytes
Digitalization can be compared to building a house. You start with the foundation and work your way up, with ongoing improvements and maintenance along the way. Similarly, companies must continuously evaluate and invest in their technological infrastructure to avoid technical debt and remain competitive. Moreover, technology and software are dynamic in nature – they are constantly changing and influenced by their surroundings.
Therefore, digitalization is about constantly adapting to market changes and implementing new solutions that drive the business forward. Investing in technology is not like buying a machine for a production line – where you know exactly what you’ll get – but rather a more dynamic process where new tools and solutions are continuously added.
By embracing digitalization as a continuous process, instead of viewing it as a cost, companies can build a strong foundation for future success. It’s about continuously adapting, improving, and implementing the solutions that best drive the business forward. When digitalization is seen as a strategic investment with long-term business goals in focus, it becomes not just a necessity but a catalyst for growth and innovation.
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