What Is Digital Transformation?
You need to answer the question, “How/where can “technology” change the rules and economics of (your particular) game – for your business and for competitors, some of whom may not be active in your market (yet)?” In other words, can it help you scale profitably? Digital technologies include AI, RPA, ML, 5G, 3D printing and so on.
Digital Transformation is only part of the strategic puzzle – a necessary ingredient but not sufficient to create a resilient strategy. For example, have you thought through your obligations and desires from an Environmental, Social and Governance perspective? Indeed, how can technology help you do so without compromising your climate-related objectives? Should we become a “B-corp” to signal the change to consumers, employees and other stakeholders? Could an alternative means of sourcing capability improve our economic and product delivery performance?
Digital Transformation doesn’t change whatever differentiates you against the competition and it usually doesn’t change the fundamental rules that govern success in your chosen market. But it could significantly change the relationship you have with customers and the insights you have into their behaviours and preferences. It will lower the barriers to entry for new competitors entering your market – witness the rise of the “challenger banks”. So, the need to continually scan the market for threats (and opportunities) has never been more important! Of course, technology can help with that too, but only if you have access to the right capability and capacity, when you need it.
What Isn’t Digital Transformation?
If all you are doing is automating existing processes, that’s simply “digitising” which brings limited business value.
Before automating anything, you should be asking, “Why are we performing this activity at all?” And if you should, “Is there anyone else who could do it better (quicker, cheaper to higher quality) than us?” If there is, why aren’t they doing it instead? Now you’re thinking “transformational”.
What Are Digital Advisory Services (DAS)?
This depends where you are on your journey: before inflexion, at inflexion or post-inflexion. “Inflexion” is the point at which you had planned – or plan – to scale profitably: where your top-line and bottom-line grow together.
Before Inflexion (pre-funding): DigiDisruptor will road test your strategy, your “transformation” programme, your budget assumptions, your capability acquisition strategy. We will identify gaps, quick wins and potential partners necessary for the next stage of the journey and update your “pitch-deck” (if necessary)
At Inflexion (post-funding): assess the art of the possible and adjust strategy and expectations accordingly.
Post Inflexion: assess “lessons learned” on your journey so far and course correct accordingly.
Why Do You Need DAS?
Most of the mistakes you are about to make have already been made: learn from our wealth of experience here at DigiDisruptor and focus on making the mistakes that only you can make.
Learning is a process (the “scientific method”) – it doesn’t happen by accident: hypothesise, test, learn, course correct, repeat. These learning processes and the supporting structure need to be in place at the outset.
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