Digital Transformation health check

Last month, we attended a couple of conferences in Auckland where we ran a ‘Digital Transformation health check’ – a short survey to see how different organisations see themselves perform in the Digital Transformation (DX) journey. Despite the different audiences between the two events, the survey results reveal some interesting common patterns.

8 principles of DX

At SilverStripe, we ‘make Digital Transformation happen’ by helping our clients and users execute digital strategy fast through Agile mindsets, world-class tools and services. We help organisations transform digitally throughout the 8 DX principles (These principles were surveyed with the attendees at the two conference: Global Digital Banking Conference and Digital Transformation Summit. Attendees were asked to rate how they thought their organisation performed in each of the DX principles. The ranking was from 1 – 'badly performing' to 5 – 'well performing'):

1. Customer led
2. Data driven
3. Distributed authority
4. Leadership drive
5. Capability
6. Responsiveness
7. Managed risk
8. Technology enabled

Global Digital Banking Conference

This event is focused on the banking sector, attended by over 100 banking executives and decision makers.

On the whole, the banking respondents rated their performance towards the higher scales across the 8 principles. Of all principles, the two aspects that rank the highest are ‘leadership drive’ and ‘managed risk’, with 85.8% and 85.3%, respectively, rating their performance on the high 4 - 5 scales. 0% of responses were recorded in the low 1 - 2 scales. This shows that banking staff do have a strong belief in their leadership team and are confident that they are managing risk well.

Our Leadership team do not understand or support us at all		Our Leadership team are engaged, transparent and guide us well

 

We don't manage risk at all		We assess real vs perceived risk and proactively manage risk

A high 71% rating was given for the ‘customer led’ aspect on the 4 - 5 scales. This is promising since getting feedback from customers to adapt competitive offerings is crucial in the Digital Transformation journey.

We don't know our customers at all		We listen to our customers' feedback and adapt our competitive offerings

‘Data driven’ was the ranked the lowest with 21.4% thinking they were on the 1 - 2 scales. Perhaps more metrics should have been used or made available for banking staff to base their decisions on.

We have no metrics to base our decisions on		We use metrics to validate use cases and make sound decisions

‘Capability’ was the ‘most unclear’ principle. Nearly half of the respondents (47.6%) gave a neutral rating to this principle.  

We don't have the competencies and resilience to start DX		We are resilient, agile and fully capable of dealing with changes in DX

Digital Transformation Summit

This event covers a wide range of sectors with attendees at C-suite roles in digital.

Interestingly, there are some distinct similarities between the 2 surveys with 2 separate audiences. The two principles, ‘leadership drive’ and ‘managed risk’ also rank high in this survey, with 62.% and 79.3% in the high 4 -5 scales, respectively.

The same percentage of respondents in this survey rated their performance in ‘customer led’ as in the other survey (71%). This indicates that customers are still the number 1 factor that drives what companies and organisations are offering.

Nearly half of the respondents in the Digital Transformation Summit survey was also unclear about their ‘capability’ (rating 3) – the same result as the other survey.

Key differences between the two surveys

• The audience in the Global Banking Conference survey seemed to rate their performance on the higher scales than in the DX Summit survey.
• More neutral responses were given in the DX Summit survey than the other survey. While ‘capability’ was the only principle with nearly half of the responses giving the neutral 3 rating in the first survey, the latter survey sees this in 3 principles: ‘data driven’, ‘capability’ and ‘responsiveness’.

Are you fit enough for Digital Transformation?

If you want to participate in the survey, please complete this short questionnaire. We will send you the new results once they are available.