How to go about a digital transformation

Key business objectives across all departments of an organization.
Anonymized example from one of the largest transformations in banking globally.
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The business objectives are nicely laid out and are in structure similar to a balance sheet, covering all key aspects of the organization. The darker colored objectives are the most critical ones. The input of all key stakeholders is typically enriched with information from the annual report, strategy documents from different departments, other key initiatives as well as corrective information, as required.

3. Defining the vision for your digital transformation

Defining a highly precise and compelling vision is a crucial step in developing a digital transformation strategy. A vision needs to summarize both user benefits and business objectives. Only when you have both key perspectives covered, will a vision statement resonate with both your customers / the end users as well as internal stakeholders.
The vision statement thus serves as a critical guidepost for all stakeholders involved in the digital transformation journey, providing clarity about the desired future state of the organization. This approach thus allows to build trust and credibility internally and externally and helps drive adoption and engagement among users, customers and internal stakeholders alike, ultimately leading to the required support and higher satisfaction.
The process equally ensures that the digital transformation initiative is aligned with the overall strategy of the organization. This alignment can also help to secure buy-in and support from management, making it easier to allocate resources and implement the digital transformation initiatives effectively.
In summary, to develop a compelling vision for digital transformation, it is essential to consider both user benefits and business objectives. By doing so, organizations can develop a vision that is both customer-centric and aligned with the broader goals and objectives of the organization. This approach can help to ensure that digital transformation initiatives create value for the organization and its stakeholders and contribute to the long-term success of the organization.