The 2019 theme was “The Digital Movement”. It explored what companies need to do to successfully transform towards digital-first and make digital their primary platform of business. How to accelerate your digital innovation agenda and deliver sustainable business results?
It has been 25 years since digital was first widely recognized as a significant driver of business and societal change. The digitization of society is structurally and fundamentally changing the way the society, markets and economy are behaving and operating. Digital is storming through the business world at a relentless pace and is changing the rules of the business world. Over the past few years, organizations have widely started digital initiatives and made investments in digital innovation. However, many organizations are still struggling with four key challenges. The four challenges are the challenge to integrate, the challenge to scale, the challenge to delight and the challenge to monetize.
Four key challenges for organizations:
1. The challenge to Integrate
Digital should be a mature component of your company’s DNA and contribute strongly to a significant part of the company’s results. However, digital and the business core are often not well integrated and don’t operate seamlessly in the eyes of customers and partners. Operational inefficiencies still exist, and data quality is inadequate to run analytics and derive meaningful insights.
2. The Challenge to Scale
Organizations launched teams for digital innovation to scout, develop and test new applications and solutions. A dynamic way of working and learning culture challenges traditional thinking and management styles. However, scaling successful innovations and embedding them in the core business has proven to be difficult and time-consuming. Therefore, the business impact is still limited, and ROI is still questionable.
3. The Challenge to Delight
Organizations adopted a new operating model where digital and business core are well integrated. New ways of working replaced more traditional work methods and efficiency have improved. However, customers do not seem to benefit from the changes made and are still experiencing a siloed, broken customer journey. In this situation, the company’s market position has not improved yet.
4. The Challenge to Monetize
Customer satisfaction has significantly improved from changes made toward a digital organization. Digital and core are well aligned and work seamlessly across channels and business domains. Market position may have improved, but gross margins are still under pressure. Efficiency gains have been limited, and ROI is less than was initially expected. Customer expectations are high, but delivery is still too costly. In this situation, digital is always a cost to the organization.
Speakers provided case studies and know-how on:
What can an organization do to accelerate their digital innovation momentum?
How to become part of the digital movement as a leader and a winner?
How to win in the platform economy?
How to build a high performing digital organization?
How to grow from the digital basics to digital excellence?
Organizations need to rethink their position in their markets, ecosystems and value chains and need to transform the way they create value. Most organizations have started their journeys in digital, but many challenges remain.
Video Impression of 2019
Hans Berends shares his knowledge of innovation processes in a digitizing world. Hans Berends (1972) is Professor of Innovation and Organization at the Knowledge, Information and Innovation Research Group, School of Business and Economics, Vrije Universiteit Amsterdam.