Now is the time to think ahead

Is your com­pany fit for a dig­i­tal future?

Every­one is talk­ing about tech­no­log­i­cal tran­si­tion and a new indus­trial rev­o­lu­tion. What they are refer­ring to is dig­i­tal­i­sa­tion, which is forc­ing com­pa­nies to adopt a new way of think­ing and make new invest­ments, lead­ing to fun­da­men­tal changes in the econ­omy. Ulti­mately, this shift is cre­at­ing cor­po­rate, eco­nomic and polit­i­cal chal­lenges. Iden­ti­fy­ing and tak­ing advan­tage of these ongo­ing changes while ensur­ing that your com­pany adheres to its own path and does not drift off in the wrong direc­tion is no easy task. What’s more, not every for­mula for a dig­i­tal future is ben­e­fi­cial. Many firms have already found the right solu­tion, but some are still look­ing. How­ever, this is a trend that can­not be ignored as com­pa­nies’ dig­i­tal strate­gies and data-​driven busi­ness mod­els are amongst the key cri­te­ria in busi­ness analy­sis. A check­list of ques­tions can help you to deter­mine how fit your com­pany is and what risks need to be elim­i­nated.

A vital check for keep­ing on track – nobody wants to be a dig­i­tal dinosaur!

Point ONE – dig­i­tal­i­sa­tion in your indus­try:

  • What are the dri­vers behind dig­i­tal­i­sa­tion in your own sec­tor (com­peti­tors, new busi­ness mod­els, changes in client behav­iour etc.)?
  • To what extent do you have to respond to a change in these dri­vers?
  • Look­ing ahead to the future, how is the sec­tor likely to change in the next few years and how is this affect­ing your own busi­ness model?
  • How might your com­peti­tors react and is there poten­tial for the num­ber of com­peti­tors to increase?

Point TWO – cor­po­rate change:

  • What would be involved in rein­vent­ing estab­lished, inflex­i­ble processes for devel­op­ing stan­dards?
  • Which depart­ment is respon­si­ble for man­ag­ing your company’s dig­i­tal future? Are some depart­ments already in the process of dig­i­tal trans­for­ma­tion?
  • Will some work sit­u­a­tions change as a result of this trans­for­ma­tion?
  • Do all employ­ees sup­port the leap into the dig­i­tal age?

Point THREE – gear­ing up for the future:

  • To what extent is the research and devel­op­ment sec­tion of your com­pany embrac­ing dig­i­tal­i­sa­tion?
  • Is there poten­tial to incen­tivise inten­sive, knowledge-​driven, cross-​functional teams to adopt inno­v­a­tive approaches? What form do the incen­tive mea­sures take?
  • What is your strat­egy for cre­at­ing a new range of dig­i­tal ser­vices?
  • Which co-​operative part­ners will pro­vide sup­port in real­is­ing dig­i­tal strate­gies and projects? Are there any?

Point FOUR – data ana­lyt­ics:

  • How is the global avail­abil­ity of data via the inter­net used? Is your com­pany aware that the web con­sti­tutes infra­struc­ture and the browser is a plat­form?
  • Are data sets analysed in your com­pany?
  • How are these analy­ses used? Are new products/​services being devel­oped on the basis of these results? If so, what are they?

Point FIVE – secu­rity:

  • Is your com­pany pro­tected against cyber-​attacks?
  • What mea­sures are used to pro­tect data from attack­ers?
  • Is there room for improve­ment? How can your company’s IT secu­rity be opti­mised?

Point SIX – pro­vid­ing resources:

  • Is the req­ui­site amount of fund­ing, time and resources avail­able for the trans­for­ma­tion process?
  • Which depart­ments require addi­tional staff and what are their qual­i­fi­ca­tions?
  • Is there an invest­ment plan for dig­i­tal­i­sa­tion and what form does it take?
  • Which financ­ing part­ners are sup­port­ing or expected to sup­port the com­pany?

Point SEVEN – dig­i­tal­i­sa­tion trends:

  • Are you aware of the fol­low­ing mega trends?
    Enter­prise col­lab­o­ra­tion, Crowd­sourc­ing, Forums, blogs, microblogs, Part­ner col­lab­o­ra­tion, Infor­ma­tion secu­rity, Near-​field com­mu­ni­ca­tion
  • What trends have been iden­ti­fied as oppor­tu­ni­ties? Which of these could be imple­mented?
  • Is there poten­tial for new col­lab­o­ra­tions in dig­i­tal trans­for­ma­tion?

Are there any prob­lems relat­ing to point FIVE? IT for star­tups and SMEs under one roof.