If you are not able to tell the difference between doing digital and being digital, rest assured – you are not alone.
A lot can be achieved by digitization, no one disagrees. Does it help to scale up the digital transformation? Well, that is a topic in this article.
It’s a no-brainer to build an app, but to stay successful, companies must be prepared to rethink their entire business model. There are numerous examples of how new scalable business models are challenging traditional – Uber, Airbnb, Spotify, and Klarna are just a few.
It’s all about delivering sustainable value over time. The mindset should be “we’re in for the long haul”. That is why many transformation initiatives die an early death, they simply fail to deliver sustainable value over time.
Taking a step back looking at the world around us – we see companies all over embracing a sudden surge of initiatives and massive investments being made, as practically every organization is focusing on transforming themselves into a digital organization.
And rightly so, the track records from some of today’s most valued companies have proven how customer-centricity in combination with technological advancements can create a paradigm shift in the business operations.
Let’s take COVID-19 as an example. Yes, the pandemic has surely dampened the thrust in some aspects but has served as an accelerator in others. Regardless, the pace is continuously picking up, faster than ever before.
So, what makes Digital @ Scale so interesting and important? Let’s explore this further. Digital @ Scale leads to two major considerations – “Digital” and “Scale”. While Digital is relatively easy to comprehend in the context of each company, the art of scaling it is what makes the major difference.
Technology has been assisting businesses to perform faster, better, and cheaper and will continue to do so. There is a plethora of technology options to choose from and a lot depends upon the past investments, existing solutions, company strategy, and sometimes even personal preferences. What matters the most is how the technology is put to work. Digital transformation is about leveraging opportunities in technology to drive the business forward.
As said initially in this article – about the difference between doing digital and being digital. It’s an area of concern and confusion. It is, however, a key distinction. We can achieve a lot by digitization, but does it help to scale up the digital transformation?
It’s all about delivering sustainable value over time. That is why many transformation initiatives die an early death, they simply fail to deliver sustainable value over time. It is easy to build an app, but to stay successful, companies must be prepared to rethink their entire business model. There are numerous examples of how new scalable business models are challenging traditional – Uber, Airbnb, Spotify, and Klarna.
Simple observation reveals that the focus has gradually shifted, first from Operational Excellence to Enterprise Agility and now towards Client Centricity. The scaling of digital transformation can only be achieved when each and every part of the company starts acting in unison with common objectives and having a single focus in mind – their Clients. And being digital for clients – anytime, everywhere.
But how do we achieve this?
At Opticos, we recommend starting with a digital readiness assessment, to deliver:
- A high-level overview of prerequisites for change
- A common view of, and alignment, around the current state
- Risks to address
- Prioritized initial actions to take.
Our Digital Transformation Readiness Assessment Framework takes a broad and pragmatic perspective on digital transformation by assessing areas such as:
- Business Direction
- Innovation & Customer Centricity
- Capabilities & Workforce
- Technology & Architecture
- Ecosystem & Partners
The assessment is focused on the organization’s ability to prioritize, scale, and execute on set ambitions and provides a starting point and foundation for an accelerated digital journey and successful transformation.