Digital transformation is probably the biggest challenge facing most organisations today. Every digital road map is unique. Yours will differ from your competitors, your partners and the companies you most admire. It will depend on your customers, your business goals, your staff and culture, and your willingness to embrace change.
At Daresay we know how difficult this can be. That’s why we have developed a five-step digital transformation model that is designed to advance an organisation and provide tangible value to all stakeholders. The model has proved extremely effective in transforming organisations such as Länsförsäkringar AB – voted best digital bank three years running – into leading digital providers. Some companies climb step three with us first, and then go back a step or two. But just as your transformation strategy is unique, so might your journey be. Your may also start on another step, but to maximise your potential, revisiting step one and climbing to the top, will get you there in the best condition.
Step one begins with a customer-centric vision. Your vision and business strategy should focus on delivering what customers want over the long-term rather than focusing on what can deliver the best returns today, or what products and services are in the pipeline. Forecasting market trends, examining the leadership framework and assessing both your own and your competitors’ digital capabilities are all part of the first visionary step. When we began working with Arbetsförmedlingen, the Swedish public employment service, their vision was to become relevant again for employers in order to help people back into work. Something that we are helping them to achieve as they walk through the transformation steps.
With a vision in place you can move onto an assessment of your organisation’s ability to deliver on the strategy. A key part of digital transformation is change management. Your organisation is constructed for your current path – and probably not one that fully embraces digitalisation. Creating an in-house digital start-up is often a great way to begin, this allows you to test your way forward, deliver results quickly and prove the value of digital investments to the entire organisation. However, at some point changes to the organisation will probably need to be made– whether it’s recruiting, replacing or training staff. Getting this right can only be done by mapping your organisation’s structure to the needs of your digital strategy. A typical example of this can be seen at ASSA ABLOY. We originally came into the company as an additional organisational resource to help them reinvent door locks. Once our design and development team had co-created the “digital key”, ASSA ABLOY employed their own team of UX designers as they continue along their digital path.
As organisational change can take time; so moving onto the next step of creating the right value for your customers can be done in parallel. What do your customers really want? What are new innovators planning that will steal market share? Is the cash cow now holding the company back? Understanding your customers is the key to understanding your future. What you perceive them to be and how they act and feel can be very different. By meeting them, sharing their experiences, and using the data they provide about themselves, key insights can be gained that become instrumental in developing concepts and creating digital offerings. For TV4 Fotbollskanalen.se we were able to design and build a new digital service for football fans in just three months by meeting and understanding what fans wanted.
Design and development can only reflect customers’ desires when you truly know what they are, and where and how you fit into the digital eco-system. With digitalisation – and the opportunities it provides – comes new partners and new providers. Your entire product portfolio may be hosted on a third-party site, you may start mining big data, new mobile services may be added to your offering, or your code may be made open source. Identifying the ideal partners in your new ecosystem is a key strategic decision to ensure secure and smooth integration – at the front and backend – and ultimately to deliver a successful transition.
Success of course, needs to be measured. One thing we can say about digitalisation is that data is available. Often too much data. By creating measurable business KPIs, the tools can be created to measure the success of a transition. Sometimes all you may need is an effective customer survey, other times the number of downloads or visits to a site will provide a measurable KPI. Identifying KPIs and monitoring them provides a key proof-point for all internal stakeholders to see and share. When we created the VAB app, for Försäkringskassan, for instance, we saw within a space of a week that it was in the TOP5 most downloaded apps on the app store. And today, there are over 1 million app visits per month. The tools are there to measure success. And success is what we at Daresay strive to deliver.
…And you still want to know more, get in touch and we can tell you more. But if you want something to think over, try this: The timing has never been better. By acting now you can make transformation your success story. All you need to do is be daring, to trust us, and we can make this journey together.