The Need for Transformation
Today, our digital-born businesses like Google and Amazon recognise possibilities created by digital technologies.
They understand that the barriers of pre-digital era have vanished, enabling new business models, new revenue streams and new sources of competitive advantage possible for the first time.
In this new world, this is not only achievable but often cheaper, faster and more customer-centric than ever before.
Using the elements of CODEC, we have successfully transformed the fortunes of businesses in varying sectors and in different parts of the world. The philosophy which underpins this program is Agile and we incorporate Agility into all 5 areas of CODEC.
Often, the enterprise is able to identify a key element of the CODEC program that they believe requires most work. We then deliver a tailor-made program that focuses on this CODEC element.
What are those elements? They are the 5 areas of CODEC. We have case studies for each of the 5 focus areas of Digital Transformation. But first, an introduction to each element:
Customer
Digital technologies change how we interact and serve our customers.
Communication is two-way: their reviews make them a bigger influence than commercials and endorsements, and their participation has become a key driver of business success.
Our success stories in this element highlights the importance of how the customer strategy has changed through Digital Transformation.
Offering
Digital technologies change how we think about opportunities for our customers.
What the customer values can change in the blink of an eye, and your competitors are constantly uncovering new opportunities that your customers may value.
We need to drive continuous improvement in our offering to the customer in order to find our next revenue stream.
Our case study illustrates how we have successfully transformed the Business Models of established organisations, opening new paths through the construction of new value propositions.
Data
Digital technology is underpinned by this area of Digital Transformation strategy. No longer is data an expensive, difficult and specialist area, reserved for the I.T. professional.
Today, data is generated and understood by everyone. Cloud-based storage systems, often the focus of a digital transformation, are becoming increasingly cheap and easy to use.
We need to turn all that data that is available to us, into valuable information that drives business decisions.
Our example illustrates how correct metrics and a robust data strategy can be to an enterprise such as yours.
Employee
Digital technology is transforming how businesses innovate. Testing new ideas was difficult and expensive. Alongside that the business culture seldom supported it.
Today, business embrace Agile-type philosophies to enable continuous testing and experimentation. Prototypes are built cheaply and ideas tested quickly.
We need to be in a state of constant learning and the rapid iteration of products needs to be central to the business strategy.
Our case study highlights the impact this had on a Digital Transformation that was failing to adopt Agile correctly.
Competition
Lastly, digital technologies transform how we perceive our competition. Unlike traditionally when competition was present within our industry, we are finding now that it is also present in neighbouring industries.
Today, a business may find themselves competing with a rival in one sector whilst co-operating in another area. We need to recognise that our value offering to our customer is fully accomplished through business relationships with a network of partners.
We provide an example of exactly how we accomplished this for an industry leader that was losing ground to start-ups.
These five elements of a Digital Transformation describe the focus areas needed by your business today. Just as CODEC deciphers a digital signal, the CODEC Program has been developed to decipher and deliver a Digital Transformation of your business.