The term “transformation” has long had a place in corporate America’s lexicon, but its definition has evolved over the past few years. Once the norm, most senior executives now consider the standard 18-month transformations timeline unsustainable due to high associated and implementation costs. Management is pressed to demonstrate cost takeout in real-time, execute on a more tactical scale, and realize efficiencies using a more targeted approach to transformation.
Enter “Little T,” a more agile approach to transformation that boasts lower associated costs and uses existing assets to deliver the highest return on investment. Little T does not call for full system or process overhauls, and the less daunting time frame and more moderate price tag make for an easier business case to endorse. With fluctuating markets and rapid advancements in technology, Little T gives organizations increased control of change efforts and enables rapid course adjustment rather than engrossing businesses in lengthy transformation programs.
Despite the evolution of corporate transformation, both Big T and Little T still have potential to fail. In fact, corporate transformations have an alarmingly high failure rate of more than 70%, and transformation fatigue often sets in as the result of repeated lengthy, mismanaged, or failed efforts. While the deployment of Big T is sometimes unavoidable when facing significant corporate events, Little T is emerging as an affordable and efficient way to enable change. As today’s marketplace evolves and more technology is centered in the cloud and easily integrated, Little T will continue to redefine change in corporate America.
Read Finance Transformation Challenges to learn how to take a well-defined, integrated approach to navigating your company’s transformation.