It’s time for companies to reconsider their long-held beliefs about the perils of digital transformation. In fact, these beliefs are quickly turning into myths that need to be debunked systematically.

1. 4/28/22, 2:42 PM Debunking Top Three Myths Holding Back Enterprise Digital Transformation
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Debunking Top Three Myths Holding Back Enterprise
Digital Transformation
It’s time for companies to reconsider their long-held beliefs about the perils of digital
transformation. In fact, these beliefs are quickly turning into myths that need to be debunked
systematically.
Digital transformation is one of the top concerns for businesses around the world in the post-
pandemic world. Companies have understood that, if leveraged timely and in a business-results-
driven manner, technology can play a huge part in not only business continuity but also pushing the
business forward.
Despite the fact that digital transformation was a goal for most businesses even before the
pandemic, the progress made in the last year has been tremendous and faster than in the previous
few years. Businesses are more eager to advance further and faster on their digital transformation
roadmap now that they have seen the benefit they can derive from this effort.
Businesses can face several hurdles on their digital transformation journey, the most significant and
detrimental of which are the myths surrounding it. Here are some myths about digital transformation
debunked so that businesses can be confident in taking the next step in their journey and not be
discouraged when obstacles arise.
Myth #1: Digital Transformation Is All About Technology
The majority of conversations about digital transformation are around technology. While technology
is vital, it is not everything, and what matters most to businesses is value.
Also Read: Signs To How Digital Transformation Could Fail
By Prangya Pandab - April 27, 2022
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2. 4/28/22, 2:42 PM Debunking Top Three Myths Holding Back Enterprise Digital Transformation
https://enterprisetalk.com/featured/debunking-top-three-myths-holding-back-enterprise-digital-transformation/ 2/2
The majority of digital transformation initiatives fail due to a lack of leadership support. Rethinking
the business, how services and products are delivered, and how consumers are engaged and retained
is too big a transformation for the IT department to handle alone. The management team and key
stakeholders within the company are responsible for digital transformation, and without their
commitment, employees at the grassroots level would be unable to drive and respond to the cultural
and functional changes essential for initiative to succeed. It’s a concept that needs to be accepted by
everyone in the company.
Myth #2: Digital Transformation Is Costly
The most significant impediment to digital transformation is generally the cost. Successfully
transforming the way a business runs and increasing productivity, however, is the first step toward
strategic cost optimization and may help an organization better align its IT budget with business
objectives. In the long run, moving the budget from maintaining an inefficient and unproductive
environment to deploying enabling technologies can save significant IT waste and debt.
A successful digital transformation decreases paperwork, improves data transparency, fosters cross-
team collaboration, and aids resource optimization. If properly planned, the benefits and return on
investment achieved from digital transformation far transcend the initial cost to implement change.
Myth #3: Digital Transformation Necessitates Workforce Reduction
Digital transformation does not imply a reduction in workforce. Employees have more opportunities
as a result of digital transformation. Employees can thrive, grow, and uncover their true capability and
contribution with enhanced automation, greater insight, and transparency into essential processes
and systems. Digital technology is meant to supplement, not replace, the skills of the employees.
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Prangya Pandab
Prangya Pandab is an Associate Editor with OnDot Media. She is a seasoned journalist with almost seven years of experience in the
business news sector. Before joining ODM, she was a journalist with CNBC-TV18 for four years. She also had a brief stint with an
infrastructure finance company working for their communications and branding vertical.
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