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Digital Transformation Success

Overview of the need for and difficulties encountered during a Digital Transformation. Includes drivers, obstacles, levers, case study and observations.

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Digital Transformation Success

  1. 1. Digital Transformation Success
  2. 2. Why digital transformation and why now? Customer experience Reduce operational inefficiency Modernizing legacy systems Org Structure & DigitalTalent Change Management Competing technical priorities Innovation and customer experience are priorities Revenue generation and growth Impact of digital tech trends on business priorities 1958 – 61 years 2016 – 18 years Inefficiency Digital Disruptors Top Challenges Top Needs Corporate Lifespan Shrinking C-Suite Perspective Sources: McKinsey, Tek Systems, IDG Red Hat Global, Adobe & Forrester
  3. 3. Why is digital transformation so difficult? Digital is hard to define Behavior is changing: Industry Societal individual Functional areas and priorities not clear Path to ROI is not always clear Technology is not neutral
  4. 4. Digital transformation or incremental optimization? Phased optimization leading to full transformation. • Increased revenues • Reduced costs • Improved productivity • Enhanced customer experiences • Improved collaboration May look like a refinement rather than a reinvention. • Increased revenues • Reduced costs • Improved productivity • Enhanced customer experiences • Digital products and services • New business model • Monetization of hidden assets • High Impact performance A radical change in the way products and services are delivered to create new value. Transformation Hybrid Incremental Optimization Digital transformation or incremental optimization?
  5. 5. 8 Digital Transformation Levers: A spin on an existing framework ¥ The 8 levers for digital optimization & transformation • Demand generation - the process of getting people interested in what you have to sell • Reach - the extent or range of effect, or influence. • Customer experience - is your customers' holistic perception of their experience with your business or brand • Path-to-purchase - series of channels that customers use or are exposed to in order to convert into a 'purchase' • Process - a series of interrelated tasks that, together, transform inputs into a given output • Optimization - the process of identifying and implementing new methods that make the business more efficient and cost effective. • Agility - Adapt quickly to market changes - internally and externally. • New Business Models - company's plan for making a profit Source: 8 levers framework Flevy
  6. 6. A case study Case study: Situation: Firm and its distribution network lagging behind competition in digital sales. Action: Started digital transformation on growth side: involving digital advertising, websites, CRM, social media, customer experience, reputation management and sales processes. Digital tools and processes were set up to capture data. Results: Significant increase in digital sales. Data generated was used for product planning, capacity planning, financial planning and evaluation of new business models. Note: By treating the transformation as non- linear, the growth side transformation kick started the efficiency side transformation.
  7. 7. Keys to success • End-to-end • Break down by- channel • Manual vs. automated • Replace complicated processes • Usable & appropriate • Location & access • Quality & structure • Consolidation • Ownership • Governance • Roles & responsibilities • Skills • Leadership • Third parties • Objectives & compensation • Commitment • Cognitive • Behavioral • Emotional Process Technology People Data Culture • Tools • Integrations (API first) • Why?
  8. 8. Observations • Digital transformation is a business transformation • Digital transformation is non-linear and depends on speed, flexibility and iteration • Digital transformation is more about talent and less about technology • Maximum benefits are derived when processes are also digitized • Thinking of digital transformation as non-linear, allows improvements in any one of the 8 levers to impact and inform the other levers • Data is the “fuel” that powers all digital tools and processes • Technology is not neutral – governance and ethical frameworks are critical • Understand and account for the intersection of digital and physical worlds • COVID has been an accelerant to - not the genesis of - digital transformation
  9. 9. Eric Siano is the managing director of Blue Leopard LLC. In his role, he helps firms navigate the complexities of the digital landscape and transform their marketing, sales and digital capabilities, processes and technologies. You can reach Eric at: www.blueleopardllc.com An MSDC certified Minority Business Enterprise eric.siano@blue-leopard-llc.com Insight Transformation Results