DX_Strategy_for Business 1Administration

Dx strategy talks about DX METHOD in business planning

1. M P Vijay Kumar
DIGITAL
TRANSFORMATION
STRATEGY
M P Vijay Kumar
July 2024

2. M P Vijay Kumar
The views expressed are those of the presenter and
therefore, do not necessarily represent the views of
organizations, I am associated with.
Importantly, presenter is not a practicing SME.
Strongly recommend engaging SME before next
steps.
This deck does not cover aspects of risk and
implementation of DX strategy
INSURANCE!!!

3. M P Vijay Kumar
15 minutes on DX Strategy
1.What ?
2.Why ?
3.Who ?
4.How ?
5.Key trends !!!
•Scope :Digitization is data conversion. Digitalization is improving processes with digital solutions. DX is leveraging tech for total organizational overhaul.
•Impact:Digitization is a task-level change. Digitalization impacts operations processes. DX is a strategic shift.
•Goal :Digitization aims to make data more accessible. Digitalization targets operational efficiency. DX aims at complete organizational transformation.

4. M P Vijay Kumar
What ?
•DX is a strategy of enabling business innovation predicated on the incorporation of
digital technologies into operational process, products, solutions, and customer
interactions.
•DX is in itself, a broad business strategy.
•Developing a roadmap for short- and long-term DX , guided by business outcomes, not
technology, is the essential foundation.
•DX involves the building of a digital ecosystem in which there is coherence and
seamless integration between customers, partners, employees, suppliers, and
external entities, providing greater overall value to the whole.
•Outcomes :improving efficiency, maximizing revenue growth, enhanced CX,
innovation, risk mitigation, employee engagement and reducing operational costs.
New Technology + Old Operations = Expensive Old Operations

5. M P Vijay Kumar
Why?
•DX strategy ensures that there is an impactful, measurable, and
concerted effort toward key business goals.
•Moves the needle for a business when there is a coordinated and
strategic initiative.
•DX is often complex, involving multiple departments and impacting
the daily tasks of employees; it takes time, communication, and
collaboration, to be successful
Transformation looks different at every organization, that’s what makes the digital transformation strategy
so important. It’s a personalized roadmap of where change is most effective with your organization.

6. M P Vijay Kumar
Who ?
1.C-suite: Provide the vision—the why—to the organization.
•not just allocating budget,
•need to ensure digital transformation efforts are aligned to the
long-term strategy and goals of the organization.
2.Digital transformation leader: Dedicated person /team ; helps
accountability, visibility, and focus within a company.
3.Cross-functional and multi-level representation: Assure a sense of
ownership across functions and provide visibility on transformation
initiatives and progress.

7. M P Vijay Kumar
Who?
4.Trusted partners: It’s rare to have a completely internal digital
transformation
•must rely on trusted partners and experts to support needed technologies,
lend industry and process expertise, and troubleshoot execution.
•choosing the right partners, ones that are as invested in your success as you
are, and share the same values and innovation goals, is a must.
•strengthen core competencies by seeking partners who complement
strengths & understand business, accelerate results & drive initiatives
forward.achievindigital transformation outcomes.
Agility key for digital transformation. Putting in place a strategic roadmap is essential but being
willing and capable to adjust according to results is the ultimate path to success

8. M P Vijay Kumar
The Three
Skills of a
Digital
Leader
Key to successful digital transformation is nurturing a company culture that’s
innovative, collaborative, and inclusive ; both a top-down and bottom-up approach.

9. M P Vijay Kumar
How?
Transformation looks different at every organization, that’s what makes the DX strategy so important.
It’s a personalized roadmap of where change is most effective with your organization

10. M P Vijay Kumar
Key trends !!!
1.More investment in DX,
triggered by / after Covid
2.AI & ML
3.Hybrid cloud
4.Cyber Security & Privacy
5.Process transformation
over technology
6.Hyper Automation
7.Edge Computing
8.Quantum Computing
9.Digital twins & Additive
Manufacturing
10.Leveraging Digital technology
for sustainability goals

11. M P Vijay Kumar
My 2 cents…
•DX failure is largely due to CXOs starting project with all fanfare but
gradually reducing oversight, intensity
•Every DX project important, small and big. CXO commitment
important for building organisation confidence in DX projects and
culture to get there.
One of the misconceptions about DX is it’s a destination ; as businesses evolve, DX will continue to be a critical part
of business strategy in order to remain competitive, differentiate products and services, and drive efficiency.

12. M P Vijay KumarM P Vijay KumarSTAY SAFE. STAY HEALTHY. STAY ACCOUNTABLE