Don’t miss the digital boat

Let’s be honest here: How do you feel about the digital transformation? Do you believe that implementing a few new technologies such as mobile devices, cloud solutions or big data tools is all it takes to make the digital transformation happen? You’re certainly not alone, but you’re also on the wrong track. Or maybe you’re just not sure what to expect and decided to just sit the whole thing out? If worst comes to worst, this may threaten the very existence of your company in the medium term.

A mere one-third of companies has realized that as digitalization advances they will have to rethink their processes and business models – both within their own organizations and in their relationships with their customers and suppliers. And only one in ten companies even consider it necessary to change their behaviors or make a paradigm shift. These are the findings of recent surveys and discussions we had with our customers.


Rise to digital excellence!

This also means digital excellence is in high demand. You are wondering what exactly digital excellence is? To us, this means enabling your company to:

  • network with customers and partners in an intelligent and flexible way
  • that is based on digitalized processes and
  • propelled by innovative technologies

to make your business stand out from the competition.

Or put differently: One needs to able to bring together people, things, and data to create new agile and innovative business models to unlock the gates to digital excellence.


The pillars of writing you digital success story

Aligning the following three components is the key to digital excellence:

  • process model
  • organizational structure
  • highly flexible IT architecture

With these components properly integrated, the transformation processes can incorporate digital levers and take business execution to a whole new level.

You can, for example, start by digitalizing your internal processes based on mobile computing, cloud services or digital platforms, allowing you to achieve digital excellence in your own organization. The next step could be to integrate the way you communicate with your customers. Efficiently orchestrate the available channels and rapidly and flexibly respond to customer demands. As a third and last step, you can then elevate your relationships with your business partners to a new level. Work together to design new services, opening up the possibility for you to embrace new business models.


Sounds easy enough, so what is holding you back?

All of this sounds pretty logical. So why aren’t companies simply implementing their digital agendas? Obviously, there are many real-world obstacles that need to be overcome. About one in three companies, for example, say that they simply lack knowledge as to what new technologies and tools can do for them. 45 percent of companies lament their insufficient ability to innovate and more than half of them believe that no digital culture exists in their company.


Unfold your digital capabilities

This tells us that companies need to start by cultivating the right digital capabilities. How can this be accomplished? It’s easy: With a map of digital capabilities specifically tailored to you that will combine the required capabilities regarding technological and organizational expertise with your business approach. Leverage your “capability map” to systematically navigate all business units and reliably determine your level of digital maturity and identify areas where action is needed.

 

Put your company to the test and find out the extent to which a digital culture has been established throughout your organization and to what extent your managers are willing to support and control a digital transformation project. Analyze whether you are up to the challenges of master data management or big data, practice efficient omni-channel management, or even have your own incubator devoted to coming up with and investigating innovative business ideas and willing to accept the risk that some of its ventures may fail.


Tap into the capabilities of the digital transformation

Our innovation labs for digital solutions are designed to help companies build the necessary technology expertise. Technologies are becoming more and more affordable, but they are no longer enough to produce the hope-for competitive advantages. Our seasoned consultants will therefore show you ways to revamp your processes to exploit new and innovative business models. Digital platforms allow you to break monopolies, maximize your reach, and expand into new markets, regardless of your company’s size. The goal is to become more agile and flexible and to systematically intensify relationships with your customers and partners. We will contribute our expertise to help you establish a digital culture and to fill it with life. The digital maturity of your organization is the key to success. It decides whether you will miss the digital boat or leverage digital intelligence to successfully master the transformation.

written by
Henrik Baumeier
Henrik Baumeier is Partner at CAMELOT Management Consultants AG and has been supporting companies in their transformation for the digital ages for several years. He oversees the Enterprise Information Management division and has led corresponding projects at global industry leaders in the past 12 years.

This post is also available in: German