Do Digital for Differentiation:
One practice that seems to be gaining momentum is the idea of focusing on those business models, processes and applications that can really deliver great benefit when there is differentiation in the target market. One is tempted to go after the mission critical and differentiating products or services, but a safer start would include lower impact areas where money saving could fund future efforts that were more ambitious. Sometimes brand new areas of growth are also good candidates especially if a better customer experience is an important deliverable.
Creating a Digital Target Architecture:
When designing a digital target, it is important have a comprehensive view of that target which would include a visual representation that is surrounded with key visions, goals and phases that spell out financial opportunities and risks. Gathering important inputs to the creation process including executive vision, customer needs, competitive forces and the state of the current operations is crucial to creating a solid set of targets. Identifying contributing technologies is also a key ingredient to the baking of a satisfactory digital target. Watch this space for more detail in the future.
Employ Incremental Transformation:
Some organizations are starting with customer experience intense products or services and deliver incrementally better interactions. Others are starting with legacy standard transactions and surrounding them with new contexts and experiences. Some organizations are aiming at processes and systems that give immediate revenue boosts like customer on-boarding or prospect gathering. The import issue here is to start small and grow to your digital destiny unless an organization is under great pressure to deliver or an organization has discovered an industry shaking business model. Then it is full speed ahead.
The digital zealots would have you jump on the wave just to be on it. I say work the wave smartly Take control of your target architecture, but don't ignore the need to change and adjust it with a reality based approach.