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The Digital Maturity Index
In a rapidly changing business environment, digital transformation helps to strengthen competitiveness, maximizes efficiency and seize innovative opportunities .
Competitiveness
In today’s digital world, staying competitive is critical. Companies that digitally transform their processes, products and services can operate more efficiently, innovate faster and deliver value to their customers more quickly. Digital transformation enables companies to keep pace with rapidly changing market conditions and differentiate themselves from the competition.
Customer experience
Today’s customers are increasingly digitally oriented and expect seamless, personalized and convenient digital experiences. Digital transformation enables businesses to meet these expectations by using digital channels to sell, service and interact with customers. A positive customer experience is a key competitive advantage and can lead to higher customer satisfaction, retention and revenue growth.
Increase efficiency
Digitizing business processes can significantly improve a company’s efficiency and productivity. By using automation, data analytics and digital tools, manual and time-consuming tasks can be streamlined. This frees up staff to focus on value-added activities and helps to reduce costs.
Innovation potential
Digital transformation creates new opportunities for innovation and new business models. By using technologies such as artificial intelligence, Internet of Things, Big Data analytics and cloud computing, companies can identify and develop new products, services and business opportunities. Digital transformation fosters a culture of innovation and enables companies to adapt to changing market conditions and enter new markets.
Data-driven decisions
Digital transformation enables companies to collect, analyze and use valuable data to make informed decisions. Data enables organizationsto understand customer behavior, identify trends, measure effectiveness of actions and optimize business processes. Data-driven decisions can improve the success rate of business strategies and minimize risks.
Employee engagement and empowerment
Digital transformation can also strengthen employee engagement and empowerment. By using digital tools and technologies, employees can work more efficiently, be more flexible and collaborate across geographical boundaries. Digital transformation enables employees to realize their full potential, expand their skills and actively participate in the development of the organization.
The Path to success
3 key questions need to be answered:
- What is the best approach for my company?
- Where do I stand in comparison to my competitors?
- How much, and above all where, do I need to invest in order to be successful quickly?
A tailor-made approach helps to find the right answers:
- The determination of the digital maturity level
- A fit/gap analysis tailored to the individual company.
- The resulting data-based prioritisation of all projects (existing, planned and reference projects) based on the chosen business model.
Following these 3 steps will enable a measured but focused activation of the company’s digital potential.
The service consists of 3 levels that build on each other
Depending on the willingness and readiness, the first steps can be taken, or the company’s own maturity level, the corresponding fields of action and then a concrete roadmap for the company’s digital development can be developed in a structured process.
What is the best course of action?
First, a 1-day facilitated workshop is being held to determine the maturity level. The results of this workshop are summarized and the resulting report serves as the basis for the next steps.
Regardless of whether the approach is strategic or goal-oriented: The dimension-specific priority values are analyzed and the focus dimensions need to be determined, the results visualized and again will be summarized in a report. This can be done within a 2 weeks period.
If a significant number of projects already exist, a PMO is in place or the priority matrix is just the start of the journey, the duration of the next step will be determined. If the outcome of this phase can be embedded in an existing programme logic, it should take about 4-6 weeks.
With considerableentrepreneurial will, the above programme can be completed within one quarter.
Content
- The Digital Maturity Index
- Option 1: Target Function driven prioritization
- Option 2: Key Performance Indicator-driven prioritization
- The Roadmap
FAQs
The Digital Maturity Index is a methodology that examines 20 dimensions divided into 4 areas. A moderated self-assessment is used to generate scores on a scale from 0 to 5. These scores represent the current state of digitalization in that dimension. There is no good or bad. What matters is the knowledge of the current status.
Each of the three levels builds on the previous one, creating a rigorous logic in which concrete projects or programmes build on the current state of digitization. Only the KPI-based logic allows priorities to be set independently of the current status. The advantage of this approach is that the dimensions are directly linked to the company's key figures. The strategic approach focuses on long-term transformation.
In the DMI, the focus is on gaining knowledge. This can be ensured through the participation of multidisciplinary teams in the workshop. The success of the generated and prioritized projects and programmes is part of the respective activities.
Flexibility is a prerequisite for mastering the journey into a digitalized and digitalized future. The methodology itself is hierarchical: The result of one level serves as input for the next level.
According to this methodology, prioritization is only carried out on the basis of the results generated. However, concrete procedures should always be discussed and planned flexibly in order to combine the best result from the logic of the procedure with the experience of the actors.
The Digital Readiness Index is in the tradition of the focused Industry 4.0 Readiness Indices.
In 2015, TÜV Süd's Digital Service competence centre developed the Smart Industry Readiness Index (SIRI). With this index, industrial companies can efficiently determine where they stand on the basis of 8 pillars with a total of 16 dimensions. The successful application with hundreds of companies and the development of the Prioritization Matrix in collaboration with EDB Singapore have paved the way for effective and efficient positioning in this area.
Frank has been heavily involved in the development and deployment of this SIRI and has extended this approach, which is tailored to manufacturing companies, to all industrial customers and added the additional area of 'Customers'. With the 4 areas of customer, process, technology and organization now covered in 20 dimensions, a site assessment can be carried out that combines efficiency with precision.