What would be the price for your business if it does not adapt to today’s evolving business environment?

Technology advancements, shifting customer trends, and compliance requirements are some factors that demand change. Technology advancements allow organisations to improve their business operations’ efficiency, increase team collaboration, strengthen their IT security posture, or provide cost savings through scalable technology platforms.

Shifting customer trends may require your organisation to redefine its product and service offerings to satisfy customer expectations. A blue ocean strategy may be adopted where new market spaces are identified for existing products and services offerings. Compliance requirements may require your organisation to make significant changes to its policies, structure, and business operating model. These changes may require investments in current and new systems. Non-compliance may impact your organisation’s reputation.

The business opportunity and compliance changes usually require substantial digital transformation. Digital transformation is not easy to implement due to the complexity of most organisations and their environments. Significant changes require a digital roadmap to help navigate the organisation from its baseline environment to its target environment.

Before an organisation commences its digital roadmap, four very important things are required:

    1. Define the target environment that achieves the change requirements with reference to business objectives, value chain, and business operating model.
    2. Produce an analysis of the current environment with reference to the existing business operating model, systems, and value chain.
    3. Perform a gap analysis between the current and target environments. A gap analysis will help determine the extent of the change and what is feasible in terms of current capabilities and constraints. The gap analysis findings may require adjustments to the target environment to ensure its achievement is feasible.
    4.  Use the gap analysis to define a digital roadmap reflecting how the current environment will migrate to the target environment. Break up the roadmap into various stages with estimated timelines for each stage, and their benefits to be realised.

The roadmap needs to be practical, leveraging off current capabilities; and be flexible to adaption, as new constraints or information emerges. A digital roadmap should never be cast in stone!

Carbon8 Consulting has practical experience and many examples of creating digital roadmaps both within our team and in conjunction with our specialist partners. Please contact us, if you require any help in defining your target business model, understanding your current environment, identifying the gaps, and implementing a roadmap that is adaptive to emerging change.

Richard Pritz – Associate Partner (Digital Transformation)

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