Digital transformation is no longer a tool considered as simply existing to improve efficiency within a business, it has become something central to strategic planning and execution as businesses worldwide are investing time and money into driving their own digital transformation agenda forward at a rate faster than their peers and with vision and ambition greater than elsewhere within their industry.Are you a digital transformer?
Typically, digital transformers:
- Set aside up to two times the amount of digital investment for future growth than their business competitors.
- Exceed their competitors in multiple aspects of growth indicator including sales, new products and services, and customer experience.
- Experiment with a wider range of digital technologies to achieve their growth goals and proactively plan for greater investment to accommodate such technology.
- Have an expectation that investment in digital technology has the power and capability to deliver significant business transformation.
Now’s the time to transform
In today’s business world it’s fair to say that every organization, irrespective of industry, is fast becoming a digital business through a combination of two things: a desire to lead rather than follow and through pure necessity.
The difference in performance and success between those that choose to lead – the transformers – and those that don’t – the followers – is that digital transformers have developed an intrinsic understanding of the importance of centering growth as the firm focus of their digital strategy: they are the strategists placing growth at the center of their investment planning. To have such an understanding is invaluable. It enables an organization to perceive the full potential and impact of digital within their business setting.
Irrespective of industry or where in the world they are based, digital transformers are working hard to realize their digital growth and investment plans. They are pace-setters and digital explorers with the confidence to deliver on their brave new digitally driven business strategies.
How we can help
By offering expert advice and guidance throughout a digital transformation initiative we work with clients to help them achieve the required repositioning of digital within their organization. It is always our recommendation that digital transformation be introduced, or realigned, to be integrated within the central business strategy. This helps to unify different strands of business priority and approaches and deliver greater clarity as to how to realize the digital transformation vision.
We encourage you to think about four key aspects related to your current business operations and the emphasis your organization currently places on digital. This will enable a more thorough and targeted exploration of transformation solutions. The four key aspects to consider are:
- Are they digital transformers or followers?
- How do they perceive and prioritise a digital approach?
- Does digital pose any apparent threats to your business activity or reputation?
- How could digital capabilities pull us ahead of our competitors?
- Which of your competitors are digital successes, and why?
- What digital technology opportunities can you identify within your organization?
Your place in the business world
- Can you identify any new business trends and technologies that represent potential opportunity for your organization?
- What scope and flexibility do you have regarding digital investment?
- Consider how you manage and benefit from external partnerships that might enhance your transformation plans.
- Do you prefer to see your digital strategy as a way to further develop your marketing initiatives?
- How do you identify new markets and value, specific to your industry?
Leadership and planning
- Within your management team who should take responsibility for digital development and how will you distribute that responsibility?
- How and who will liaise with internal and external parties regarding your new digital transformation ambitions?
Get in touch with a member of our team today to begin a discussion about how we can help you begin your own digital transformation