So where are you on the journey? The UK National Digital Transformation Benchmark will help you to locate your position and navigate your route through the template of the Digital Matrix.
- The business imperatives of digital transformation are experimentation, collision, and re-invention, and you must ensure that you are addressing all three of these at all times.
- You must learn to respond to threats and opportunities through co-opetition with other organisations far more quickly and effectively than today to continue your business success.
- You must be permanently active in effective ecosystems at all phases of your transformation and beyond to give your business the best chance of continuing success.
The rewards are great; the price of failure is equally great. Your first need is to figure out where you stand.
With the critical help and support of Professor Venkatraman, PA Consulting and Savannah Executive Search we have created a detailed self-assessment survey that will enable you to position where your business is, from your professional role perspective. This will be different and differently informed depending on your role and degree of engagement with the coming changes. No-one individual will have the whole picture. An HR director will have a different view from a finance director but both are valid and important to your business response. A CIO or CTO may have a more detailed understanding of the technologies involved but this is not only about technology; it is about the need for new business strategy in response to a transforming marketplace that is powered by all manner of technology influences. You need all of it.
Comparing your differing functional perspectives will allow you to find gaps and omissions in your shared understanding of where you are to inform how you need to proceed, specifically to respond to emerging opportunities and threats and to participate in or orchestrate the ecosystems that will best support you.
Similarly, by comparing the varied responses of organisations in the same industry sectors, we can develop an informed view of each and where the norms are. By publishing aggregated details of norms and best in class we’ll be able to provide you with important benchmarks for comparison, and a far more accurate understanding of your position relative to others in your sector and others who may be eying it up.
If we stick to our plan we’ll have the first of these benchmarks available in January 2018, and by continuing the work through 2019 and 2020 we should be able to see the national dial moving as the FTSE proceeds through the business changes demanded by the digital era. This is the ultimate value of the UK National Digital Transformation Benchmark.
Once armed with your self-assessments and our published benchmarks you will have a much better sense of whether you are approaching the challenge of transformation effectively. Your use of these resources and activities will then be greatly enhanced by access to independently certified, digital transformation mentors able to peer review your understanding and response to bring an external perspective to your situation and progress.
We are committed to building this cadre of certified, independent digital transformation mentors and we are looking for candidates now. This is the second of the initiatives we launched with Professor Venkatraman on 28 September.