Through digitalization, global organizations such as Adobe, Daimler Benz, and GE 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 innovation and new business models.
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
While digitalization is often used for streamlining operations and reducing costs if can also be a key factor for growth – through incremental revenues and market access.
Keys to Successful Digitalization for Growth
As shown by Adobe and other companies, successful digitalization for growth can be achieved through a proven six-step process:
- Digitalization Opportunity Assessment
- Customer journey definition, monitoring, adaptation, and feedback process development
- Value network partner/ stakeholder engagement
- Organizational readiness and competency development
- Technology and services platform definition and implementation
- Integrated delivery and communication to stakeholders
To learn more about how to get started with digitalization for growth, see Digitalization – The Next Step to Success or contact us to participate in one of the upcoming Digitalization Executive Forums or seminars offered in Oslo in the next months.