When thinking about digital solutions it is sometimes difficult to know where to start. At LBSPartners we think about digitalization in four ways, digital capabilities, customer experiences, operational processes and the underlying business model.
Digital Capabilities
Unified Data and Processes, understanding and integrating processes and the data at the core of the organization. Solution Delivery is the ability of your organization to roll out the changes to the products, services and processes as part of your digital solutions. Analytics Capability is critical. There is more data available about every aspect of life, within the organisation insights are available about customers, products and processes. How the data is captured, stored, reported and acted upon is fast becoming a strategic advantage. Business and IT Integration – Digital Transformation requires strong organisational integration between technology and business executives.
Customer Experience
Customer Understanding can be improved using digital technology to gain insights into geographies, market segments and customer behaviours. Enable sales growth through the use of modern technology, video, presentations on tablets and applications, through predictive marketing, or by streamlining your customer-facing processes. Customer Touch Points can be greatly improved through offering self-service options, by ensuring there is coherence across all channels of communication with the customer, or by improving customer experience. For example, it can be improved through fast and transparent issue resolution – a forecourt salesman sent me a personalized video of the features in an Electric Vehicle I was enquiring about. His video production quality wasn’t bad, but I was more than impressed with the effort he went to.
Operational Processes
Current production of service processes can be improved through automation (digital process optimisation) and data analysis or features can be introduced with the aid of digital technology. We have become very familiar with worker enablement through work anywhere, anytime models, broader and faster communication, and knowledge sharing through well structured cloud solutions for training, product and process information. Performance management by improving operational transparency and better data-driven decision making.
Underlying Business Model
The way business is transacted may need to be altered before new entrants with more agile and engaging business models appear. There is an opportunity to improve products or services. Many retailers have gone online. Medical Doctors are providing online consultations, etc. Digital platforms are also enabling organisations to overcome silos by sharing content broadly. New digital products may be possible or organizational boundaries may be reshaped to provide customers with greater value. This requires investigating opportunity throughout the value chain.
Organisations can consider transitioning from a multi location organization to a truly global operation. And finally there are opportunities for shared digital services.