How Digital Maturity Is Affecting Core Operations And Value
By Doug Bannister
Founder & CTO
October 10, 2018
Regardless of your organisation’s industry, the digital space that you work in can be overwhelming. New digital trends, such as big data, AI, mobility, are having a considerable impact on both organisations and individuals. To survive, organisations must employ digital communication strategies to meet the growing demands of the business to remain digitally mature. In other words, they must be able to adapt and compete in a constantly changing digital market. Every company can take steps to become more digitally mature. Doing so can create competitive advantages and increase market share.
ADEPT COMPANIES ADAPT
There are several key factors that help identify digital maturity. One aspect is the ability to adapt to increasingly digital environments. Another is implementing digital technologies to improve operations. According to a 2017 digital business global executive study and research project from Deloitte Insights, more than 70% of respondents from digitally maturing companies say their organisations are increasingly organised around cross-functional teams versus only 28% of companies in the early stages of digital development. Clearly, there is a fundamental shift occurring in the way work is getting done, a paradigm change that will significantly impact organisational behaviour, corporate culture, talent recruitment, and leadership tactics.
WORKING ON YOUR CORE
Having too many competing priorities is often the biggest barrier to realising digital maturity. However, to achieve it, companies must fully commit to making digital communications a core part of their organisation and business strategy. Leaders must not only emphasise that digital maturity is of paramount importance, but use that focus to transform the business, customer experience, and the bottom line. To truly drive digital success, this level of commitment may require major changes within an organisation, including reconfiguring of the leadership team, organisational structure, workforce, and culture. Monumental changes such as these are no longer optional, but essential to survive.
THE LONG VIEW
Digitally mature companies take the long view. These companies utilise longer strategic planning horizons than those employed by less digitally mature organisations. In fact, almost 30% of these organisations plan five or more years in advance compared to only 13% of the least digitally mature organisations. In addition to the long view, their digital strategies focus on both technology and core business capabilities. They are also open to organisational change and flexibility, providing them with the ability to adjust more fluidly in rapidly changing digital environments.
FOUNDER & CHIEF TECHNOLOGY OFFICER
Doug is Founder and Chief Technology Officer of Omnivex Corporation.
Doug is considered by many as a visionary in the digital signage space. In his role as CEO and CTO Doug is responsible for the long term product architecture and the overall vision for the company. He has always maintained direct responsibility for the architecture of the software to ensure the product remains at the forefront of the industry. Combined with his vision, leadership and experience as an entrepreneur in the LED sign market, Doug has used his understanding of customer requirements and knowledge of technology to create one of the leading software solutions for the digital signage industry.