Develop your digital roadmap as an integral part of your company’s strategy. Fully quantified business case and potential of each digital lighthouse. Clearly defined functions and technologies. For every relevant unit of the company.
Project example: Digital roadmap for a professional services firm
Professional Services firm with over €300M revenues in Germany and partner companies & subsidiaries worldwide.
Context and challenges:
Many of the firm’s younger staff are digital natives open to new technologies. They had initiated a whole range of digital initiatives already. These commanded significant people and financial resources across the company.
However, the organization lacked a comprehensive digital strategy that is closely aligned with the company’s overall strategic direction. Which priorities in ‘horizontal’ digitization (internal processes and customer interfaces)? Which priorities in ‘vertical’ digitization (expansion of the product portfolio and entirely new digital business models)?
Moreover, the management team felt that most digital initiatives had been started without proper due diligence, deep thinking on the right business model and a sound investment case. Digital lighthouses had been initiated, funded and prioritized although they were not clearly aligned with the overall company strategy.
The management team assembled a working group which became LWC’s day-to-day counterpart. In the working group, we took a close look at each of the four areas of innovation: internal processes, customer interfaces, product portfolio expansions and new digital business models.
For each of them, we defined key requirements stemming from the strategy, brainstormed on potential digital initiatives in an ideation phase, prioritized them, detailed the business model and quantified the investment case for the shortlisted initiatives.
We vetted each initiative that made the final round with external digital luminaries and experts who helped us assess and select the optimal technology platforms and potential partners. We then developed a detailed implementation and test-learn-change-and scale up roadmap for each initiative.
In addition, we helped the company build up their future digital organization and the role of the Chief Digital Officer (CDO). His responsibility is to manage the portfolio of select initiatives more systematically, prepare scale up vs terminate decisions and align the digital portfolio with the company’s overall strategy.