Correlated with more robust financial performance and with a significant investment of resources and time in digital transformation efforts, “Digital Maturity” is a new term for defining organizations that encompass cross-functional digital pivots and a complementary mindset in leadership. Essentially, the right stuff for building a truly digital enterprise.
Digital enterprises use “data and technology to continuously evolve all aspects of their business models,” and this survey report by Deloitte dives into commonalities that these organizations share.
- Digital pivots have a greater impact when executed in concert rather than selectively, granting greater success to organizations that apply them across multiple business functions.
- Digital maturity is evaluated by the extent to which an organization’s digital transformation efforts are delivering business benefits, correlating directly to how systemically and how broadly an organization executes the digital pivots.
- The big three: Foundational pivots that make the most significant difference
- Invest early in flexible secure infrastructure – Implement a tech infrastructure that balances security with privacy needs with the ability to flex capacity according to business demand and develop new capabilities with agility. 60% of more advanced digitally mature companies implemented this pivot in at least five functions.
- Data mastery is a path to insight – True interpretation of data and analytics gives organizations key revelations for pursuing a path towards greater efficiency and new opportunities.
- Bring talent along on the journey – Successful organizations excel at helping employees develop digital skills, and rely on HR as a key role in putting talent into the right roles with leverage with flexible labor sources.
To get started with digital pivots, organizations are advised to start with “heart of the business” to be able to illustrate the success of digital transformation efforts and adding to early moral victories. Additional pivots – such as engaging with the ecosystem, intelligent workflows, seamless customer service, and business model adaptability – should then be applied throughout functions.
Organizations should not rely on pivots alone to succinctly enact major digital transformation efforts, they must also embrace digital mindset leadership and executive buy-in to help spearhead the necessary evolution within the organization. More of a mindset than a checklist, the journey towards becoming a digital enterprise is an enriching, constantly shifting path that guarantees growth and transformation but never a final end in sight.
I read the article mentioned above (https://www2.deloitte.com/insights/us/en/focus/digital-maturity/digital-maturity-pivot-model.html) and thought it was interesting. While I am not offering an endorsement of a strategy, tactics, thoughts, service nor a company or author, the information was intellectually stimulating and thoughtful and worth a review.
