Prysm is laser-focused on helping companies develop digital transformation initiatives because we understand that leaders in the digital space are also revenue leaders. Case in point: a McKinsey & Company study1 found that companies that wholeheartedly embrace digital technology — strategically, not just tactically — pull in, on average, five times more revenue than digital laggards. No small potatoes.
In a 2016 report2 entitled "Deliver Business Results by Boosting Workforce Digital Dexterity," Gartner wrote that "Digital business is moving routine work to the sidelines while increasing the tight partnership between people, computers and other digital resources." Further, the report revealed that "Digital business strategies typically drive an accelerated rate of change in technologies, skills, products and work practices."
To leverage the benefits of this move towards digital business, organizations need to seek out employees who are skilled in technology, as well as in their respective areas of expertise. An example is marketing people who are adept in using marketing automation tools to generate and nurture leads. These activities scale better than older "analog" ways of accomplishing things because one person can produce a higher volume of work.
Gartner identified the following four components of a commitment to digital dexterity:
- Talent — Designing digital literacy initiatives that recognize and build on individual personalities, interests, skills, and roles.
- Planning — Building a sustainable operational strategy for digital dexterity.
- Culture — Creating a workplace culture that values and rewards digital dexterity initiatives.
- Tools — Exploiting a variety of digital dexterity education services.
Start off with a strategic mindset. Merely adopting new digital technologies will not propel your company toward digital leadership. Instead, think about digital dexterity as part of organizational DNA. From internal collaboration to customer success, digital dexterity can enhance everything you do. What's more, it demonstrates a commitment to innovation that attracts clients who also excel in this area.
Once you've nailed the strategy, it's time to build a business case for a digital workplace. As mentioned earlier, digital technologies boost scale, which translates into profits. Here's an example: Studies show that most companies suffer from an epidemic of employee disengagement, which directly translates into lost productivity. Gallup's research shows that U.S. employers lose a staggering $450 billion to $550 billion every year due to this phenomenon. A digital workplace, which enables more effective collaboration, can greatly boost both engagement and productivity, preventing this lost revenue. Wherever possible, quantify the value that adopting digital technologies can bring to your company.
It goes without saying that you cannot transform your company into a digital leader without fostering a culture that leverages the advantages of your digital initiatives. For example, at Prysm, we use our software to enhance our team meetings. Because our digital workplace is accessible from anywhere on any device, it makes it easier for our employees to work from home more often, without sacrificing their effectiveness as team members. Being able to work from home can mean recapturing a couple of hours of your day you'd otherwise spend in traffic (at least for those of us in crowded Silicon Valley). It can also mean greater productivity, due to some blissfully quiet and uninterrupted work time. These benefits can translate into a happier workforce — which means that employees stay longer and work harder than they might otherwise. Win-win.
Once you've done the planning and set the stage, it's time to choose the technology that will help you realize your goals. That's the perfect time to check out Prysm's award-winning digital workplace platform. Prysm products are easy to implement in any IT ecosystem. Our intuitive interface requires little to no employee training (even for those who are new to digital technologies). And it can be used to enhance meetings, sales presentations, data visualization, and many other activities.
1How B2B digital leaders drive five times more revenue growth than their peers,” McKinsey & Company, October 2016.
2” Deliver Digital Business Results by Boosting Workforce Digital Dexterity,” Gartner Inc., July 2016