Digital Transformation (DT) Is Not an Individual Sport
The ROI on Digital Transformation Investments Is Huge
There are many success stories lately on how traditional companies have redefined their businesses with digital transformation. It’s fascinating to see traditional companies like Walmart, Home Depot and Macy’s starting to add digital channels successfully to sustain their core business and fight against a completely digital retailer like Amazon.
Why Then, Is the ROI for a Majority of the Companies Sub-Optimal?
My boss says this sometimes, “Everyone wants to go heaven…but no one wants to die”. This statement applies to how quite a few enterprises are approaching digital transformation. I have noticed that in most of the cases, either the CIO or the CDO (Chief Digital Officer) are made solely accountable for the digital transformation effort. The CIOs/CDOs seem to be “committed,” and other CXOs are just “involved” in the business redefining effort. We do not need to be a genius to figure out that such an isolated accountability strategy will never work. The key objective of digital transformation is to reinvent the business model by leveraging technology. Every member of the CXO needs to be committed to this effort, not just involved.
Make DT a Team Sport
There are many ways the CXO team within an enterprise can divide and conquer the responsibilities of a digital transformation. Here is one of many possible ways that resonate with me:
Each organization may have unique nuances that need to be considered first. Figure out what collaboration framework may work best for you. CIOs and CDOs will have to take the lion’s share of the responsibilities. But everyone has a key role. There is also value in making everyone’s responsibilities known internally from the start.
Play together. Win fast or lose fast.
Written by Saurajit Kanungo, President
Saurajit Kanungo is passionate about helping customers realize consistent value from their investments in technology. He has a strong background in conducting technology strategy, business systems planning, software/vendor selection, solution architecture, and project/program management.
He has managed more than ten large FP writings and software/vendor selections for large and mid-sized companies. Saurajit has program managed large scale multi-year, multi-million dollar digital transformation initiatives. Saurajit has also spearheaded multiple long-term business systems roadmap efforts by balancing key architectural goals like maintainability, scalability, flexibility, and cost.
Reach out to Saurajit to discuss digital transformation initiatives for your team!