Today, digital technology is viewed as mostly synonymous with information technology (IT). Some see it as merely a part of marketing. Some see it part of finance or operations. The rise of the Chief Digital Officer came about as a way to traverse all parts of your business.
Many consider it to be mostly a service that exists to fix things that are broken. Digital Adoption should instead be looked at as a complimentary tactic for improvement spanning operations, marketing, finance and of course, IT.
Today’s Digital Technology is Not Your Parent’s Y2K
Digital Technology has changed dramatically since the days of Y2K or the Dot-Com boom. Fortunately, Y2K did not turn out to be the apocalyptic episode that we had braced for. But despite – or maybe because of – our deep-rooted relationship with digital advancements, there remains the notion that the IT department houses the guys you call when something breaks.
Today, IT is often still considered a service that exists merely to fix things that are broken. While in reality, “fixing stuff” is only the tip of the iceberg.
Your Competitive Edge
By adopting and properly leveraging digital technology in your business, you can unleash your most valuable asset. It can save you time and money to conduct your everyday tasks and have everyday communications. If you want to gain a competitive edge, finding ways to do more with less can be your key differentiator between your business and it’s competitors. Making use of digital technology
Having digital technology as part of your company’s secret sauce can make the difference between you soaring in your industry or getting left behind. An in-house team or an outsourced strategic partner reporting directly to the top boss will collaborate with all other departments, propping them up. No siloes. The rise of the Chief Digital Officer, or CDO, assists and collaborates with all departments.
Digital Technology Needs to Shift From Business Cost to Business Investment
Imagine the CEO – or the head of any of the above four categories – seeing an ad or presentation for the latest slick technology promising a world of possibilities. This mastery of solutions for all pain points their area is facing hits home with emotional perfection (as any good ad campaign should). Suddenly the cheque book is out before consulting with the other departments. It becomes some robust application requiring sizeable up-front financial commitments and resources.
Fast forward 12-18 months and countless dollars and hours spent – not to mention a lot of frustrating, painful change – only to have buy-in from only a select handful of employees and minimal usage of the application’s litany of features.
The above scenario showcases a classic technology problem that trickles down to affect financial losses and staff morale, productivity as well as lost opportunity costs. Digital technology becomes a curse word, and the business starts to shun innovation. Even investment in core technology is eschewed for fear of making another bad investment. The business is left open to risk of data loss and ongoing interruptions to its operation.
Rise of the Chief Digital Officer
Had the theoretical company above adopted a digital technology culture, seeing digital adoption as an investment, not as an expense. As well as bringing onboard a layer of corporate direction that is digital-first would allow the company to implement solutions faster, adopt new technologies more completely, and maximize business continuity. The CDO has a seat at the C-Suite table and, as such, he or she understands the goals and challenges of the organization.
This markedly different attitude toward digital technology is an organizational game changer. The CDO can now work to solve business concerns and promote collaboration across all departments. The digital technology mandate has shifted from, “the guys we call when something breaks,” to “the experts we engage to help solve challenges and make the organization more competitive.”
Digital as a Business Investment
Regarding digital as a business investment, not as an expense, ushered in the rise of the Chief Digital Officer. A consultant who can help strategize IT solutions that are more powerful and rewarding than those break-fix, Band-Aid approaches that have burdened the IT department with a bad name since the dawn of the personal computer. Solid digital technology begins with smart technology and thoughtful, incremental investments and improvements. Investments designed with the objective of enabling the company to reap valuable rewards for years to come.
The CDO traverses your business dragging everyone along from chaos to order. As stated above, they touch all areas of the business from IT to marketing to operations to finance. These areas can all be aligned thanks to the rise of the CDO. A Chief Digital Officer (or simply a digital advisor) can be the digital right-hand side of the CEO.
If the rise of the chief digital officer arose due to its ability to operate on the outside ring (as an island or as part of the other four departments) they would only recommend solutions as a subject matter expert and service provider in their given area of expertise. Yet another silo. But, by operating in the centre, reporting to the boss alone, the CDO can facilitate the company’s planning process and ask questions understanding the needs and pain points of each of the departments.
Three Ways to Use Digital Technology to Its Fullest Potential
1. Build a strong digital technology foundation. You wouldn’t put a souped-up engine into a car with a deteriorating frame and blown out tires. So why would you purchase a powerful application only to run it on an antiquated or unreliable technology infrastructure?
2. Plan before you buy. Don’t lead with your emotions. Explore several possibilities and vet them against established criteria before you make any decisions at this critical stage.
3. Involve a trusted consultant in any major discussions that involve infrastructure or operations. A CDO brings a unique perspective to the situation and helps you invest wisely.
If you’d like to learn more about how the Rise of the Chief Digital Officer’s role and how they can help your business grow, get in touch with Wingman Direct & Digital Advisory today.
Book a Wingman Today for a Free Digital Adoption Plan Consultation
There is no doubt that technology is critical to your business today. Organizations need to adopt a digital-minded strategy to be able to thrive. But it’s essential that technology is deployed correctly. And more specifically, you shouldn’t start without a solid digital adoption plan in hand.
If you feel that your current technology infrastructure might be holding your organization back from reaching your goals and objectives, it may be time to invest in a digital adoption plan, like what Wingman can provide you. Contact us today and we can show you how to make your technology work harder and smarter for you by creating your own unique digital adoption plan.
Book a Wingman today to discuss how we can help.
