Digital Maturity Makes You Poised For Business Growth and Competition

I encountered an article earlier that talks about “Digital Maturity Makes You Poised For Business Growth and Competition” and here are some of it:

Crafting a?digital strategy?is essential in today's competitive market. Covid-19 is proof enough of how important it is to be agile and ready to adapt to changes quickly.

Amid lockdowns and quarantines, organisations had to pivot and embrace digital transformations earlier than they expected. Unfortunately, not everyone was ready for such a significant?change, exposing vulnerability and a lack of readiness to evolve.

Of course, nobody expected a global pandemic to happen. However, the fact remains that change is continuously happening, so going digital is no longer an option, but a necessity. On top of that, you needed to act quickly to avoid getting left behind, but you also needed a clear vision of how to become digitally mature.

What is digital maturity?

There is no one definition for digital maturity, as you might hear different variations, but it generally has to do with your digital capabilities. According to Boston Consulting Group (BCG),?digital maturity?measures your companies ability to create value through digital means.

When speaking of digital capabilities, this is not just about your technologies or IT infrastructure. You also have to consider other organisational aspects, such as your team, processes and culture. Think of it this way — even if you invested in the most advanced digital systems, they would be useless if your team did not know how to use them properly, were trained effectively and embraced them.

Overall, digitally mature organisations can readily take advantage of and respond to changing customer demands and market dynamics influenced by technology.

Digital maturity vs. Digital transformation

Digital maturity and digital transformation are often confused despite being different things. Whereas digital maturity is about your capability to implement technological changes to respond to market conditions, digital transformation involves the integration of technologies into all your business processes to create fundamental change.

Thus, to undergo a successful?digital transformation, you first need to understand your digital maturity. Otherwise, you may run into problems, resulting in wasted time, effort and money, not to mention potential impact on marketshare, revenue and competitive advantage.

Why is digital maturity important, and how can I achieve it?

Change is the only constant in such a fast-paced world, so you need to be agile and resilient to face these changes head-on. Digital maturity helps set your company apart by giving you a competitive advantage. In addition, it enhances your operational efficiency and allows you to offer a seamless?customer experience.

As those around you, along with new players entering your space, become more digitally mature, it will become a necessity for you to tackle this question. The longer you leave it the more risk you attract and the less likely you are to be in a position to offer comparable customer experiences. Time really is of the essence when it comes to addressing digital maturity.

So how can you achieve digital maturity?

First, it is essential to understand that digital maturity does not come overnight. Much like how you approach other strategies, you need to build a roadmap to plan each step and investment thoroughly. Here's some points for consideration to work toward achieving digital maturity:

1. Create a vision

2. Evaluate your current digital maturity

3. Get buy-in from leaders

4. Start small before scaling initiatives

5. Measure success

Want to know more? Head on over to the full article here for more ideas and perspective. Afterwards, why not drop me an email to share your thoughts at [email protected]; or call me on 0467 749 378.

Thanks,

Robert