Unleashing the value of digital transformation
How can organizations ensure they successfully handle digital transformation? Certainly not by wildly investing in every new technology that comes along. Blundering into hype cycles and blindly following the advice of so-called gurus is definitely not the best strategy. And yet it is what many companies end up doing in the absence of a clear digital transformation policy.
Here are four key questions that companies who want to handle their digital transformation responsibly should be asking themselves.
Are we doing the right things?
- Are we able to identify the relevant technologies in time and translate them into digital innovations?
- How do we reliably measure which innovations best fit our strategy?
Are we doing it the right way?
- Are our digital projects aligned with our current and future architecture and security requirements?
- How can we integrate innovations into our current business models and operations?
Are we getting them done well?
- Do we have the right business and IT competencies to realize this transformation?
- What’s the most appropriate development and change strategy?
Are we getting the benefits?
- How can we guarantee that once the budgets are assigned, the profits will in fact be ultimately realized?
- How and when are we going to measure the benefits?
As these four key questions make clear, digital transformation is about more than just investing in new digital trends. A clear digital transformation policy is crucial, it will help identify and realize your expected potential. Ensuring a transparent innovation process creates clarity about the steps you need to take, to carry you from a vague idea to a concrete and complete business case that fits with your overall organizational strategy.
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