To identify the key factors
that drive success
in a digital transformation, BCG recently
surveyed over 800 senior executives
globally across all major industries,
and studied more than 70
digital transformations supported by BCG.
The study showed that
only 30% of digital transformation
efforts achieve success.
However, there are six
key factors that,
if addressed adequately,
can flip the odds of success
in a digital transformation
from 30% to 80%.
One of the six success factors
is having a business-led modular technology and data platform.
Our research reveals that companies
that have a modular, flexible,
interoperable technology
and data platform aligned with business
needs and goals are 33%
more likely to succeed
in their digital transformation efforts
than those that do not.
In fact, amongst companies
that managed to pull off
a successful digital transformation,
a staggering 75%
had such a digital and data
platform in place.
To help you assess your readiness
to make the necessary tech upgrades
and allocate funds accordingly,
we have developed a set of
Yes/No questions about three key
aspects of tech design and enablement.
Business-led & fit for purpose.
This means that the tech
transformation is grounded
in real business value,
supports the overall digital strategy,
and provides transparency
on the impact on products, processes,
and the organization.
Designed for frequent upgrades.
Using iterative deployment methods
to accelerate deployment
time for features required
by the use cases
during the transformation
and allow flexibility
for catering to future needs.
Designed emphasizing IT
architecture best practices.
This drives discipline
while building new capabilities,
and minimizes delivery
risk for the strategic use cases
in the digital transformation.
Here are a few other practices to follow
as you progress with your digital
transformation efforts.
Decouple the digital transformation
from your core system transformation
and run the two in parallel.
A gradual, outcome-driven approach
to implementing a modern digital
and data platform is the fastest,
most cost-effective path to value.
Liberate data from core systems,
because data is a valuable
enterprise asset that is defined,
modeled, and owned by the business.
IT should build data platforms
that democratize the use of data
throughout the business.
Continually build
and refine new capabilities
in your people.
Actively look to take ownership.
In-source differentiating capabilities
and have them work with common goals
next to the front line.
Use iterative deployment methods.
Increase speed and agility
by using new ways of working across
technology and business IT
engagement.
Focus on speed to value.
Be bold in shelving projects
that cannot launch or create
value quickly, as they will
otherwise be outdated
by the time of launch.
Finally, as one of our senior clients
puts it: