How to achieve digital maturity in companies

Santiago, Chile. December 4, 2018. A company that has achieved digital maturity is a company that is moving towards success. In a world in constant technological innovation, organizations must work to optimize their processes, something in which digital transformation is essential, as it will allow them to adapt to market demands. In short, companies that manage to achieve digital maturity will have a considerable competitive advantage.

However, what do we mean by “digital maturity”? Oswaldo Lorenzo -professor at the business school of the University of Deist- published an article in which he defines digital maturity as a direct consequence of digital transformation, «a long-term process for the development of capabilities in adoption, implementation, use and exploitation of technology capabilities in organizations through progressive changes in organizational capabilities.

Such is the importance of this concept in today’s market that it is estimated that organizations with digital maturity generate 9% more income than others and are 26% more profitable, in addition to their market valuation being 12% higher .

Assessment of digital maturity

In an organization, it is possible to analyze this state through the Digital Maturity Index (DMI), which is related to the ability to lead digital initiatives and the ability to execute digital transformation.

To assess the status of entities in terms of digital maturity, some factors must be considered that will also serve to analyze the digital transformation process of any company:

Vision, culture and leadership

In addition to the need to implement new technologies, companies must make a change in the organizational culture, which will necessarily lead to strategic planning, that is, analyzing all the actions that will be taken in the digital transformation process. Here, it is necessary to establish clear and achievable objectives, which have as a starting point the current situation of the company.

The presence of a senior leader of the digital transformation plan should also be considered, a person who is exclusively in charge of supervising that the process is carried out correctly.

Finally, all strategies require the presentation of a budget dedicated exclusively to this process, which considers the resources available and those necessary to achieve the goal of digital maturity.
People

The main element of any company is its workers, so it is clear that training and strengthening their digital skills are the basis of digital transformation.

Along the same lines, to strengthen and optimize workflows, internal communication must adopt the use of new technologies -such as collaborative tools-, facilitating communication between collaborators and areas, in addition to supporting change in the organizational culture.

Customers

Although the internal administration of the company is an important point of the digital transformation, it is also important to adopt a comprehensive strategy in relation to the client. Likewise, a brand/product digital strategy should be considered that allows a better arrival with the target audience. Both aspects will contribute to building a more efficient and profitable relationship with customers, taking advantage of the use of new technologies.

In view of the foregoing, it is important to highlight the need for a more personalized treatment with the client, something in which actions such as implementing a digital ecosystem, adopting a CRM and ERP such as Microsoft Dynamics 365 , real-time communication, sales will be of great help. online and customer experience evaluation. All of the above, in addition to strengthening company/client relationships and fostering trust, will serve as a self-assessment methodology in the digital transformation process, allowing the company to identify its strengths and weaknesses.

digital business

An important part of the process to achieve digital maturity is the possibility of carrying out transformations in the business model, something for which it is necessary to identify new opportunities in the digital environment.

This indicator seeks to measure the shares of business from the Internet, referring to the number of customers who access the company’s online services compared to those who opt for the traditional way. In this area, innovation in business and communication models plays a very important role.

It should be considered that the digital maturity of a company will lead to a change in all processes and in the management of its resources, both material and human. Therefore, it is necessary to have a solid future vision that understands the technological needs of customers, the market and the company itself in order to position itself in an increasingly competitive digital market.