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Digitalization – Is Your Business Ready? by Next Step |   posted: 04/15/2017

Through effective use and leverage of technology, service-based business models, and enhanced customer experience, organizations such as Adobe, Daimler Benz, Hilton and Schibsted Finn have achieved growth in revenue, profit, and market valuation. Across all industries, digital capabilities, along with new market dynamics and buying patterns are driving the need for change.

Benefits of digitalization include:

• Increased customer loyalty and retention – leading to more predictable revenue streams
• Ability to penetrate new markets and gain incremental revenues
• Streamlined operations and improved efficiency
• Greater market position today and future

Keys to Successful Digitalization:

Success in digitalization requires planning, design, and implementation of:

1. Market and opportunity understanding and development
2. Customer journey definition, monitoring, adaptation, and feedback process development
3. Value network partner/ stakeholder engagement
4. Organizational readiness and adaptability
5. Technology and services development and implementation
6. Integrated delivery and communications with all stakeholders

Is Your Company Ready for Digitalization?

Planning, piloting, adapting and then implementing a digitalization initiative can be time and resource intensive. Therefore, starting with a clear and objective assessment of what will be required prior to beginning the change process is essential.

Through Next Step’s experience leading digitalization initiatives globally, we have compiled an extensive checklist and assessment of a company’s readiness (and requirements) for digitalization.

Some of the most critical factors to assess to determine readiness for digitalization include:

1. Current market segmentation today and new potential market opportunities
2. Packaging and pricing model today (products, licenses, services, delivery methods)
3. Organizational structure, management, and decision-making processes
4. Use of technology and tools for collaboration, communication and service delivery
5. Employee tenure and diversity (backgrounds, generations, and ideas)
6. Product development and delivery processes and cycles
7. Partnership model and/or value chain approach
8. Organizational adaptability to customer and market requirements

The full assessment can be conducted by Next Step’s team over a three – four week period with recommendations for value improvement provided at the end of the assessment. This can also be extended to include engagement of Next Step for strategy, business case and implementation of digitalization on a project basis.

The full assessment can be conducted by Next Step’s team over a three – four week period with recommendations for value improvement provided at the end of the assessment. This can also be extended to include engagement of Next Step for strategy, business case and implementation of digitalization on a project basis.

About Next Step:

Next Step, based in Silicon Valley with Europe subsidiary, delivers revenue and valuation growth for global organizations needing to scale and transform. Since 1997, Next Step’s 40 professionals with hands-on experience in sales, marketing, leadership, and innovation have delivered measurable results for Adobe, Avinor, Cisco, Comerica, Google, Genetech, Goodwill Industries, LiveNation and hundreds of other organizations.

For more information, visit Next Step at www.nextstepgrowth.com or call 1 650 361 1902 or (47) 902 30 982.

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