The digital revolution is fundamentally transforming the global economy. It is creating challenges and opportunities in all areas, from value proposition to operating model, culture to economics.
Thierry Mennesson, Partner, discusses Oliver Wyman's unique approach to digital transformation.
This article and interactive iOS application explore how incumbents can become leaders and ultimately win through digital. It provides a guide for incumbents preparing to embark upon digital transformation journeys, while highlighting the dangers that loom for organizations that fail to take action.
Are you a digital leader or laggard?
Take the digital assessment.
Digitize What You Have
- Do your processes start from data?
- Are your processes simple, immediate, and end-to-end?
- Is manual intervention an exception?
Decouple Old & New Technology
- Do you explicitly invest in a mid-tier?
- Are >60% of your eligible projects executed agile style?
- Have you separated "legacy" and "new" IT teams?
Put Analytics on the Front Lines
- Do you have a set of focused analytics efforts in place?
- Are you ready for the paradigm shift of analytics?
- Are you implementing flexible, distributed data infrastructure?
Free the
digital team
- Do you have a separate digital unit?
- Are you able to attract digital talent?
- Has agile execution conquered legacy mindsets?
Innovate without borders
- Have you clearly defined your innovation agenda?
- Do you have a network of strategic innovation partners?
- Have you focused and funded innovation through labs?
Enable new digital businesses
- Is a digital business competing with your current one?
- Are >40% of sales through digital channels?
- Have you migrated along profit pools through digital?
As the pace of change accelerates, the gap between incumbent leaders and laggards gets wider. Laggards will need to catch up, or digital will fade their existence.
