It's clear that digital transformation is here to stay. Is it, however, delivering the promised value? If your company isn't getting as much value out of new technology as you anticipated, the problem could stem from your adoption process.
According to Forbes, 84% of all digital transformation projects fail. When you consider that digital technology spending is expected to exceed $2.8 trillion in 2025, more than double what it was in 2020, those unsuccessful projects can add up to a lot of wasted time, money, and effort.
The fact is, maximizing the value of your tools requires monitoring and reporting on their adoption and impact. But how do you measure adoption? What metrics and insights indicate success, and how do you track them effectively to align business units and leaders around digital transformation strategies? In this blog, we’ll cover the answers to these questions.
Real-time Analytics
It's easy for businesses to lose control of their digital environment with so many tools and dispersed teams. According to Gartner’s research, 60% of employers experience frustration with new software, and only 20% have access to a usage analytics dashboard. The two findings are related: real-time analytics can help assess metrics to accelerate the adoption of digital technology across the business and guarantee the investment is properly spent.
Detailed analytics supplied by intuitive dashboards can aid in determining software utilization and whether or not employees are efficiently using the solutions. Among the questions they can answer:
Which solutions have been fully adopted and are moving the needle?
What solutions are underused and could benefit from increased adoption?
Where in an application are users getting confused or dropping off?
Which tools have served their purpose and are no longer needed?
What new tools will benefit the business most?
Data insights and analytics can be utilized to discover what makes users more productive and why certain processes are abandoned. It can show you where and why usage is declining, such as when users leave fields blank or skip certain tasks.
It can also assist you in training personnel to use features or accomplish tasks more efficiently as well as be used to streamline software spending by uncovering unused licenses and redundant systems or reveal tools that aren’t being used much at all, making them good candidates for phasing out.
Organizations can use this information to reduce friction during new technology implementations while also optimizing the value of existing investments.
Measurement in Action
Digital adoption platforms (DAPs) are being used by forward-thinking companies to collect and track KPIs in order to measure the success of digital transformation initiatives. These deep data insights enable CFOs to make data-driven decisions about how to get the most out of technology investments and guarantee that money spent on technology is wisely spent in the long run. More businesses are recognizing that digital transformation goals require a digital adoption strategy backed by the right technology.
One of the most important KPIs for measuring successful adoption is how quickly employees onboard and get up to speed on new software tools – in other words, “speed to proficiency.” An employee's ability to navigate the new program swiftly and effectively will demonstrate this.
For CRM users, for example, the timely nature of filling out customer information is critical. Sales representatives that do not fully comprehend how to use the system may be unable to finish those tasks due to a lack of training and understanding. This could lead to missed opportunities and a pattern of new personnel operating inefficiently outside of their technological systems.
Data on these types of practices across an entire organization, spanning dozens of software systems, provides actionable insights for onboarding new employees more effectively and ensuring personnel is not underutilized. As a result, adoption is accelerated, employee efficiency increases, and ultimately employee satisfaction rises.
Employee satisfaction should always be a priority for good leaders, and it should be monitored like any other business indicator. The level of employee satisfaction with new technology will be evident by gauging employee productivity, and by tracking a reduction in support tickets related to tool usage.
Other important adoption KPIs to monitor are user retention, time spent using an application, and engagement with new features. These metrics show how companies may empower their employees to fully utilize an application's capabilities and get the most out of their investment.
No Adoption, no transformation
Getting the most from your digital technology will continue to be a significant matter as the workplace environment changes and new technologies are introduced. Without successful adoption, the promise for digital transformation to help your firm become more efficient and lucrative cannot be achieved.
CFOs must accelerate digital adoption with the right technological solutions to maximize the impact of their digital transformation. Only with these technologies in place will CFOs be able to monitor the proper KPIs and gain meaningful insights from adoption-related data.
Remember that successful digital adoption goes beyond tool usage; it pushes the boundaries of what your technology stack can achieve, helping you realize the full potential of your investments across the organization.
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