Digitalization and game-changing digital trends are transforming all industries, and have become high-priority topics on almost every CxO agenda.
Advances in digital technology are frequently perceived as “silver bullets” that can ensure effective delivery of anticipated change. Undoubtedly, digital has huge potential: to fundamentally transform the business-operating model; to unlock the “impossible challenge”; to greatly accelerate change; and to intimately connect a company to its customers in real time. A new digital business logic is evolving :
Turning digital has become a well-understood imperative. Digital disruption has already significantly changed many industries (as illustrated in the graph below), and more examples will follow. Digitalization is the single-greatest factor for change of our time, and new offerings and business models are necessary to compete long term.
Although digital has commonly found its way into corporate strategies, the path to transforming adequately remains unspecified. Digital is an extremely broad field crossing many functions. The transformation entails challenges and opportunities for all parts of the company.
On their way towards the desired target, many companies find their successful digital transformations hindered by similar challenges: lack of transparency on the impact of innovation, unclear responsibilities within companies (IT? Marketing? R&D?), processes and information technology not capable of change. Digital can also expose a company’s inner contradictions, reveal hidden pockets of poor performance and even lead to perceived core capabilities becoming seen as critical weaknesses.
In fact, digital keeps raising many challenges and questions for our clients :