At this point in time, most companies are grappling with digitization. This is being driven from the very top of future-looking firms. Yet, there seems to be a mismatch between the corporate strategy at such organizations and the support functions such as finance or HR. As, a result companies are developing digital capabilities, but not exploiting them. Only a fifth of companies are managing to use their resources, as confirmed over business research undertaken by BCG. If used strategically, firms can still leverage their capabilities to reduce cost by about thirty percent and improve productivity by a factor of two-fifths. A few of the best practices have been identified that these handful of digital leaders, possess beginning with the entire process being focused on generating business value. The design principles are user-centric. Agile working ways have been introduced. These firms generally tend to have a centre of excellence where holistic digital capabilities are developed, rather than focusing on individual functional areas. These firms do not trust single vendors, but make use of a multitude of them to separate out the risks. In order to begin, one must first understand the level of digital maturity the company is at. Any digital projects already undertaken needs to be had a close look at. As a sort of internal research, one can start off with lighthouse projects to see how well they do in a small, controlled area. Broad transformation projects need to be sued to scale them up. For this a proper roadmap is required.

Source:https://www.bcg.com/en-us/publications/2018/what-when-support-functions-are-not-ready-for-digital.aspx?linkId=54828720&redir=true

Uploaded Date:25 August 2018