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Digital Transformation Best Practices

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Digital Transformation Best Practices

  1. 1. Arrk Group: Digital Transformation Best Practice Ian Southward Managing Director Date: February 2014 © 2014 All materials property of Arrk Limited
  2. 2. Digital Transformation Best Practice: Agenda  The Digital Imperative  Leadership, Vision and Strategy for Digital Transformation  Organisation and Culture  Digitising the Customer Experience  Building a Digital Platform  Execution and Delivery  Digitisation Examples © 2014 All materials property of Arrk Limited 2
  3. 3. The Digital Imperative According to research conducted by Cap Gemini, Companies embracing an holistic approach to digital transformation are: 9 - 26% more profitable than their industry sector competitors Generate 9% more revenue than their competition through their employees and physical assets Create more value, generating 12% higher market valuation ratios In an April 2013 McKinsey Survey, 65 per cent of CEOs polled said they expected that an adoption of a fully integrated digital platform would increase their companies’ operating income over the next three years © 2014 All materials property of Arrk Limited 3
  4. 4. The Digital Imperative This presentation summarises how best-in-class digital companies are becoming digital in a few key dimensions:  Leadership, Vision and Strategy  Organisational and Cultural Challenges  Digitising the Customer Experience  Building a Digital Platform  Execution and Delivery © 2014 All materials property of Arrk Limited 4
  5. 5. Digital Strategy: Vision  Build a digital business that will help us to scale quickly, at low cost and high quality to build a highly competitive, automated business that will help achieve our growth ambitions  Think digital first, or as the UK Government puts it, “Digital by Default”  Digitise key business processes by priority determined by their impact upon our growth, minimal marginal cost and greater transparency and automation  Digitise Customer Engagement processes so that they can do more self-management, make payments, check balances, undertake what if analysis and become self-sufficient of our call centres. This will save time, cost and resources  Digitise internal processes to better automate our value chain, reduce cost base and utilise publicly available information to things like trace  Automate identity and fraud checks for greater compliance and reduced risk  Harness Mobile payment technologies for more reliable and lower cost payments  Build a common digital platform for digital by default services which will significantly impact the value of the business  Base management decisions on a real time analytics engine to give far greater accuracy of information and consequent decisions  Make life simpler for our customers and staff by allowing them real time communications tools to interact fully and effectively with out resorting to calls and emails © 2014 All materials property of Arrk Limited 5
  6. 6. Leadership, Vision and Strategy for Digital Transformation  A clear business digitisation strategy driven from the very top of the organisation  Strategy should be Enterprise wide but the implementation and transition phased and iterative.  Clear goals should exist for each business unit and expected business benefits from digitisation should be stated  Try, measure, evolve to reflect rapid changes in digital capabilities and trends  Governance processes must reflect the need to pioneer, accept small failures, learn fast and continually evolve the ideal mix of digital capabilities for your organisation.  Transform and innovate within each business unit and at the enterprise level  Deliver consistency to clients, staff and partners  Design new cross business unit services to deliver value add and competitive advantage  Innovate with partners  A digital strategy and roadmap should be continually evolved to adapt to  Rapidly changing trends  New technologies  Competitive pressures and  Market conditions © 2014 All materials property of Arrk Limited 6
  7. 7. Organisation and Culture  Established processes and knowledge workers can stifle innovation and entrepreneurial spirit. Businesses need to promote an entrepreneurial culture across the organisation.  Many lean, innovative digital start-ups are already revolutionising industries and companies such as Blockbuster are no longer in business as they failed to see where their industry was heading.  Your organisation will need to adopt an entrepreneurial mindset and embed it in its culture.  Your staff are already using digital technologies to make gradual but significant changes to their daily lives as consumers, they are going to expect the same as employees. They will have ideas.  Leading digital companies are trying out digital technologies to revolutionise the way employees collaborate and communicate. They are also ensuring that digital ideas are captured, prioritised and harnessed.  Let your employees know that from now on, you want them to think and act like digital start entrepreneurs and to bring ideas and then ensure you have governance that invests in those ideas.  It must be clear that digitisation is supported from the top and the board is focussed on securing the right digital future for the company.  Many organisations are creating the role of Chief Digital Officer, others are embedding the digitisation responsibility within various senior roles.  Whichever way you do it, building an organisation with the structure and mindset to think and act like a digital entrepreneur is key to success. © 2014 All materials property of Arrk Limited 7
  8. 8. Digitising the Customer Experience  The Customer Experience is one of the first places companies look at for rapid Return on Investment for the digital initiatives  Great benefits can be had from digitising the way customers engage with your organisation and deliver benefits such as increased automation, improved quality, reduced costs and a better overall customer experience and positive brand perception.  Customers expect to be able to engage digitally with your organisation across all touch points and also expect that you can use all the data you have about them to personalise their experience and fill in forms automatically, provide service or product recommendations that are relevant and context sensitive  Best in class digital companies are digitising the entire customer facing processes across all channels and across all parts of the enterprise to provide a consistent experience  They are also making previously internal only processes available to customers to increase the level of self-management customers can undertake.  Use big data capabilities to analyse the huge amounts digital information  Use this data and social networks to solicit feedback, try out new offers and gauge customers reactions to new innovations © 2014 All materials property of Arrk Limited 8
  9. 9. Building a Digital Platform  Build a digital platform upon which interfaces to all key services in legacy and 3rd party applications. The platform should interface to all social networking platforms and support engagement with customers through any channel and any device  Use both real time and batch based analytics so your organisation can respond to real time transactions/postings being made by your customers but also analyse the huge amounts of digital information to lean new and interesting emerging trends and business insights  Make use of NoSQL databases such as Neo4J to find interesting relationships between seemingly unconnected data to better understand their customers and their businesses  Automate processes as much as possible to support a truly rich digital customer and partner experience. This includes automating knowledge based processes.  They are of course making use of cloud based technologies to drive down cost and speed time to market and provide massive scalability. They are using best of breed, proven open source tools for much of the interfacing to legacy and third party applications. © 2014 All materials property of Arrk Limited 9
  10. 10. Execution and Delivery  Rapid Execution and Delivery of digital initiatives is vital  Your organisation will need an efficient way of generating ideas for digital initiatives and can it execute on these quickly  The process used for developing a digital initiative must be designed from a complete User Experience perspective and delivered using a highly iterative and agile based delivery methodology  Once live, you must  Constantly monitor usage and actively seek feedback from customers  Have a steady flow of new features and functionality and be bold in trying out new features  Listen for what customers think and deploying changes quickly  Adopt Agile engineering practices and deliver in short iterations will help keep time to market to a minimum and keep code quality high  Many organisations start their digital initiatives within particular business units. However, it is important that the customer sees an end to end, joined up digital experience.  Develop an overall digital platform which you can continually evolve  Package and present services through the platform to ensure investments in particular business unit initiatives can be deployed enterprise wide © 2014 All materials property of Arrk Limited 10
  11. 11. Example of Digitising Business Process: Instant loan application © 2014 All materials property of Arrk Limited 11
  12. 12. Example: Overnight stock market changes © 2014 All materials property of Arrk Limited 12
  13. 13. Thank You We Deliver! Ian Southward Managing Director Date: February 2014 © 2014 All materials property of Arrk Limited

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