Journey into the digital
22:30 in Stockholm - A young intern for a wealth management firm is still in his desk putting the final touches on a pitch for creating an investment fund exclusively for cyrpto currency /Bitcoin users.
07:30 in Helsinki
A young mother wakes up, feeling cold and angry with the heating in her house. Starts tweeting – “Energy companies sell KWHours. Why? Why can’t they sell #temperature and a peaceful night sleep? #yetanothercoldnight #fedup”.
10:30 in Copenhagen
A large industrial equipment manufacturing company specializing in port /cargo equipments starts a workshop to renew their strategy. In the agenda are 4 hours reserved on how they can renew their business model to an end to end port fleet management solution provider instead of a seller of individual equipments.
All of this is happening now. All of this has a profound impact on the way businesses will transform in the coming months, not years.
All of these are different situations – yet all of them have at least three commonalities in them:
- In all of these situations, the companies have to depend on IT while working in a traditional way in order to provide a solution. How?
- In all of these situations, the companies cannot depend exclusively on their own staff and suppliers – but will need help from an ecosystem in order to provide a real solution. How?
- In all of these situations, the companies have to go through a duality challenge: How do you remain a bank at core of your heart while IT becomes the main engine and enabler? How do you remain an energy provider while ensuring you are not selling just energy, but a good night sleep? How do you remain true to your core engineering and manufacturing competency while working with numerous ecosystem providers to orchestrate a fleet management solution?
If you notice my questioning, you will see a key word comes up in all these cases – “How”. A lot of work done in digitalization today tries to explain “Why should one invest on digitalization?” and “What they can do with digitalization?” – but few tries to explain the “How to go about doing it?”
The answer to this lies in all the “Hows” that we answer in our daily life – How do we go from home to work? How do we learn a new language? How do we build a dream home? How do we plan for retirement? Do you see the common pattern in the answers? Every one of them is a journey.
Digitalization too, is a journey and it can be a complex one if not done right.
So , what’s the best way to explain this journey? Through a map of course. Please click the image to see it more detailed.
Remember duality? It needs to be a part of the journey.
- Your traditional business forms the core foundation for any business renewal. It needs to be industrialized, optimized, automated and ready to support your digital endeavors.
- Your digital business success depends on you building your digital platform. This will allow you to experiment different solutions and business models. This will help your ecosystem partners to work with you in an easier way than before. This will bring the needed agility that you sometimes miss in your core business. And finally, this will drive your transformation into a digital company without losing your core identity.
Want to know more about how we are helping our customers on this journey? Read our whitepaper here.
Now, I want you to take a challenge. Take the journey map given above. Use it to draw the journey map for your organisation or your customer. Do it with colleagues over lunch. Do it on a napkin. Take it to your boss or bring it to us and get the dialogue started.