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Strategy not technology drives digital transformation (Report)

Strategy not technology drives digital transformation - Cubility - Perth Australia

Key findings from the study:

Digital strategy drives digital maturity.

Only 15% of respondents from companies at the early stages of what we call digital maturity — an organization where digital has transformed processes, talent engagement and business models — say that their organizations have a clear and coherent digital strategy. Among the digitally maturing, more than 80% do.

The power of a digital transformation strategy lies in its scope and objectives.

Less digitally mature organizations tend to focus on individual technologies and have strategies that are decidedly operational in focus. Digital strategies in the most mature organizations are developed with an eye on transforming the business.Maturing digital organizations build skills to realize the strategy.

Digitally maturing organizations are four times more likely to provide employees with needed skills than are organizations at lower ends of the spectrum. Consistent with our overall findings, the ability to conceptualize how digital technologies can impact the business is a skill lacking in many companies at the early stages of digital maturity.

Employees want to work for digital leaders.

Across age groups from 22 to 60, the vast majority of respondents want to work for digitally enabled organizations.Employees will be on the lookout for the best digital opportunities, and businesses will have to continually up their digital game to retain and attract them.

Taking risks becomes a cultural norm.

Digitally maturing organizations are more comfortable taking risks than their less digitally mature peers. To make their organizations less risk averse, business leaders have to embrace failure as a prerequisite for success. They must also address the likelihood that employees may be just as risk averse as their managers and will need support to become bolder.

The digital agenda is led from the top.

Maturing organizations are nearly twice as likely as less digitally mature entities to have a single person or group leading the effort. In addition, employees in digitally maturing organizations are highly confident in their leaders’ digital fluency. Digital fluency, however, doesn’t demand mastery of the technologies. Instead, it requires the ability to articulate the value of digital technologies to the organization’s future

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Sourced from Deloitte

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Cubility are the trusted advisor to some of Australia’s largest oil and gas, mining, utilities and public companies. We help ensure your company is operational ready and business effective through modern technology strategies, program management and IT support.

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