Fwd: Weekly Brief: Rethinking Digital Transformation

[Dr. Ernie Prabhakar]

I wonder if any church is ready to start thinking in these terms. 

Has anyone tried to build a digital-first church?

Even the church of VR seems mostly about moving traditional forms online. 

Sent from my iPhone

Begin forwarded message:

From: Rich Lesser <bostoncons...@bcg-email.com>
Date: August 9, 2020 at 18:01:47 PDT
To: ernest.p...@gmail.com
Subject: Weekly Brief: Rethinking Digital Transformation
Reply-To: "Boston Consulting Group" <reply-40938538-18467081_H...@bcg-email.com>



Leading in the New Reality

Click to view email as web page. To BCG’s network around the world, I’m Karalee Close, senior partner and leader of BCG’s Technology Advantage practice, and I’m happy to be stepping in for Rich today to share my thoughts about digital transformation in our new reality. Digital transformation was a priority for many organizations before COVID-19, but there’s been a material shift in the conversations I’m having with CEOs—in both the sense of urgency and the willingness to change how work is done. In fact, our research indicates that more than 80% of company leaders expect to accelerate digital transformation as a result of the crisis. It’s no longer an interesting concept; it’s a business necessity. Despite this sense of urgency, few companies have achieved the results they had hoped for. I’ve seen a wide range of great ideas that fail to scale. I’d like to offer a few calls to action that can help reboot your approach to digital transformation, so it will deliver the value you need. Reimagine your business with a digital-first mindset. Rethink some of the fundamentals of your operations. This requires innovation not only in products and experiences but also in core business processes. Data science has to be deeply embedded in the workings of your business, with data-driven leadership and human-centered design key to lasting change. Reset the investment portfolio. Refocus spending on driving near-term business outcomes. Cut the tail of projects that are unlikely to deliver real value and shift to fewer, higher-value efforts in the core business. Near-term digital performance boosters have proven to bring margin increases of 12% to 20%. This is critical to business resilience and will fund the ongoing transformation journey. Don’t let legacy IT be a bottleneck. As much as 85% of IT spending is focused on replacing or upgrading core systems, often without a clear path to innovation. Instead, companies can deliver two times the value—in half the time and at half the cost—by using a data and digital-platform approach. Digital business transformation is decoupled from core IT transformation, allowing data to move faster, be more accessible, and become a new source of competitive advantage. Recognize the human side of digital transformation. It’s about more than technology. Digital transformation depends on building new culture, skills, and ways of working, along with the upskilling and reskilling of existing leadership and teams. Further, as the external environment remains highly uncertain, you need to replace traditional transformation approaches with resilience principles, with agile sprints and focused teams driving rapid innovation. We all know just how much the pandemic has upended the business landscape. With the right technology approach—and an environment that embraces learning—digital transformation can drive early and lasting value, so we’re ready for what comes next.   Karalee Close Managing Director & Senior Partner Digital Acceleration Is Just a Dream Without a New Approach to Tech To accelerate a digital and IT transformation and build value faster, focus on business outcomes and decouple the digital transformation from core system replacement. CLICK TO READ MORE It’s Go Time for Digital Transformation People support their companies’ efforts to work in new ways, but many feel the transition could happen even faster. Why You Should Treat the Tech You Use at Work Like a Colleague Imagine your company hires a new employee and everyone just ignores them. This situation happens all the time—when companies invest millions of dollars in new tech tools only to have frustrated employees disregard them. Boston Consulting Group 200 Pier Four Boulevard Boston, Massachusetts 02210, USA Manage Communications Privacy Policy Unsubscribe