Digital transformation (DT) projects often fail – we know that – but there are steps companies and their partners can take to maximize the likelihood of success. In today’s franchising world innovation and digital transformation can be a huge factor for franchise success. In a recent conversation with Rohit Kapoor, the Vice Chairman and CEO of EXL Service, it became clear to me that digital transformation – in spite of all the myths and horror stories – can transform business processes and whole business models if certain things are true. The discussion was more of a meeting of the minds than anything else, and was therefore fun. It was stimulated by a Harvard Business Review survey (conducted by EXL Service) published as part of HBR’s reporting on the state of the practice of “Digital Transformation: Bridging the Gap Between Expectations and Outcomes.” His and my experience (including data we’ve collected at Villanova University on digital transformation) – far from pie in the sky – describe a realistic approach to digital transformation. We now know that when certain things are not true, digital transformation projects will likely fail, and some will fail spectacularly. But we also know that when certain things are true, well, digital transformation can succeed.
