We receive a lot of questions concerning digital transformation. Starting from what it is to if we really need it and – of course – what is it good for. Covid changed a lot. Many executives accepted digital transformation, but not yet really internalised it. Sad, but true.
We conducted a long-term research study over the last two years. The results are striking. 90% of executives do not know their digital score. They even do not know about the existence, the importance, and the method to measure their digital maturity. Sad, but true.
Whilst, digital transformation is so important and becoming increasingly strategic. Those enterprises succeeding with digital are outperforming their peers by factors of two to ten times. Digital-born companies playing in a whole different league. Not only the tech giants but also exponentially scaling start-ups soon become unicorns and shake the longstanding incumbents. Sad, but true.
Imagine you could know what every single consumer would like to buy or listen to or consume. Imagine you could provide those products or services at the right time to the best conditions. Imagine you would know the market conditions, all your inventory, all your value chain, in real-time. Imagine you could predict those factors upfront. Imagine you could forecast demand, arrange the supply chain, accordingly, even influence fashion trends, markets, and prices, to dominate the competition. Impossible? Think again. Think differently.
Advanced analytics and artificial intelligence make the above possible. Tech giants and true digital leaders draw their superpowers from their vast amount of data, powerful computing infrastructure, best available talent, and a clear focus on these topics. So, it is possible, you just need to aim for it and work hard.
Imagine all your processes running super-efficient, completely seamless, and frictionless. Imagine you can follow every single item, every single transaction online in real-time, just as it happens. Imagine you could forecast demand, procure, manage logistics and inventories accordingly, most effectively. Unachievable? Better think twice about what you wish for.
The internet of things, 5G, RFID, NFC, edge computing, hyper-connectivity, and many other state-of-the-art technologies and their various applications, make a stark difference. Using them wisely, leveraging them to remove friction, remove waste, save on energy and resources, watch the whole life cycle very carefully, makes a great deal. So, you think it is unachievable? We saw many great companies using these solutions to gain tremendous benefits and protect the planet at the same time.
Imagine you can surprise your customers every day repeatedly. You produce new offerings, new channels, new business models, new partners, new value propositions, and new experiences, regularly. Imagine you can execute on the best ideas coming from inside or outside your organisation. Sounds undoable? You deserve more than that.
For B2C business models omnichannel or multi-experience is the hottest topic. On top of that, last-mile-delivery, subscription business models, and recommendations, are super critical, the battleground for most of the consumer industries. In B2B contexts, integration, resilience, demand forecasting, supply planning, sales, and operations planning, become of great significance. Undoable for laggards. Done by leaders. You decide.
People, technology, and governance must support your business strategy. Digital transformation is not a choice. It is not about if, and it’s also not about when. You are already late. The question is what and how. What needs to be digitally transformed and how.
This can only be achieved if you have great people, rock-solid technology, and business-minded governance. Let us have a look at a vision for these three supporting dimensions.
Imagine you work like a few-month-old start-up. Imagine all your people are super-skilled, highly motivated, take initiative, are open minded, always hungry to learn more, and extraordinary team players at the same time. You are an employer of choice, attracting the best talent possible. Too good to be true? Aim for even more.
Imagine you have the latest state of technology. Imagine you can scale it up exponentially. You have all the data you need and can analyse it in real-time, use artificial intelligence, and produce the best business insight. And all of this is super secure, fully resilient, and as cost-effective as possible. Technology is a true enabler of business growth. Not possible? Yes, we can.
Imagine true leadership. Imagine the whole executive team is united and fully aligned. Imagine everybody supports digital transformation, feels the sense of urgency, agrees on the vision and the objectives, and pushes the boundaries. Imagine you have super effective use of your financials, best budgeting, and monitoring. Imagine the whole organisation is geared towards your KPI’s and a great culture of performance is established. Beyond your imagination? Aim for it and strive for it. Better than giving up on yourself.
Now, as you can see, succeeding with digital transformation is not easy, but possible. And the gains are huge. The ones who develop a cohesive vision, execute their strategies, strengthen the organisation, and digitally transform the business, to provide the best possible customer experience, those will be among the leaders. All the others are doomed to fail…
Consciousness is super critical. Are you aware of your situation? Do you know where you are? Measure your digital maturity. Compare yourself against your peers. And repeat these exercises annually, with the help of a trusted independent party. Digitopia assures your progress, aligns your executives, and accelerates your journey. Worthwhile talking. Let us get in touch.