>90% of companies run in some form a digital transformation. Yet, only ~30% see the full economic benefit expected come through. Especially in insurance, McKinsey & Company research shows that productivity levels have been flat. At this week's Insurtech Insights conference in Hong Kong I discussed with an esteemed panel of business and technology leaders about how to capture the full benefit from digital transformations. Special thanks to panelists Sue Coulter, David Broom, Michael Kwan Yu Chan and Chris Iacovou for a rich discussion. 4 main take-aways I want to share: 1. Be clear upfront about the business and operating objectives, the scope and tangible business KPIs. 2. Be holistic and integrative in how you run the transformation: defining clear business-ownership overall, integrating of all capabilities in one team, staffing the right people, creating the right mindset and shaping a fast pace, empowered way of working. 3. "Rewire" all parts of the business to make full use of innovation. This includes talent, operating model, definition of business outcomes, underlying data, and of course technology. 4. Craft a journey to scale, always being "relatable" for customers and staff to follow the change in customer experience, new offerings and new workflows.
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"The only thing worse than being blind is having sight but no vision." #DigitalTransformation✨ Is vision the cornerstone of successful digital transformation? Absolutely. In today's rapidly evolving landscape, having a clear and compelling vision is more crucial than ever. It not only guides your organization's strategic decisions but also inspires and aligns every stakeholder towards a common goal. 🎯 ☄️ 𝐂𝐫𝐚𝐟𝐭𝐢𝐧𝐠 𝐚 𝐂𝐨𝐦𝐩𝐞𝐥𝐥𝐢𝐧𝐠 𝐕𝐢𝐬𝐢𝐨𝐧: 𝐁𝐞𝐲𝐨𝐧𝐝 𝐀𝐬𝐩𝐢𝐫𝐚𝐭𝐢𝐨𝐧 Crafting a vision statement goes beyond mere words; it encapsulates the essence of why your organization exists and where it aims to go. A robust vision statement should be aspirational yet grounded, inspiring yet practical. It should resonate with every employee, customer, and partner, driving them towards collective success. For example, consider a vision that reflects a commitment to innovation and customer-centricity, such as: "To pioneer transformative solutions that empower businesses worldwide, driving sustainable growth and positive societal impact." 🚀 𝐓𝐡𝐞 𝐏𝐨𝐰𝐞𝐫 𝐨𝐟 𝐂𝐥𝐚𝐫𝐢𝐭𝐲 𝐚𝐧𝐝 𝐑𝐞𝐥𝐞𝐯𝐚𝐧𝐜𝐞 Clarity in your vision statement is paramount. It should articulate your organization's purpose, values, and long-term objectives succinctly. A relevant vision connects directly to your business goals, ensuring every initiative and decision contributes to your overarching strategy. In practice, a clear vision helps prioritize investments in technologies like AI and blockchain, aligning them with business outcomes and customer needs. ⏳ 𝐓𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐢𝐧𝐠 𝐕𝐢𝐬𝐢𝐨𝐧 𝐢𝐧𝐭𝐨 𝐀𝐜𝐭𝐢𝐨𝐧 A well-defined vision sets the stage for transformation. It serves as a compass, guiding your organization through digital disruptions and market shifts. From operational reimagining to leveraging cutting-edge technologies, a clear vision streamlines efforts towards sustainable growth and competitive advantage. 𝐁𝐞𝐥𝐨𝐰, 𝐈 𝐡𝐚𝐯𝐞 𝐚𝐭𝐭𝐚𝐜𝐡𝐞𝐝 𝐚 𝐯𝐢𝐬𝐢𝐨𝐧 𝐞𝐱𝐚𝐦𝐩𝐥𝐞 𝐟𝐨𝐫 𝐚 𝐥𝐞𝐚𝐝𝐢𝐧𝐠 𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐜𝐨𝐦𝐩𝐚𝐧𝐲 𝐢𝐧𝐢𝐭𝐢𝐚𝐭𝐢𝐧𝐠 𝐚 𝐝𝐢𝐠𝐢𝐭𝐚𝐥 𝐭𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐫𝐨𝐚𝐝𝐦𝐚𝐩 𝐟𝐨𝐜𝐮𝐬𝐞𝐝 𝐨𝐧 𝐫𝐞𝐯𝐞𝐧𝐮𝐞 𝐠𝐫𝐨𝐰𝐭𝐡 𝐚𝐧𝐝 𝐜𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐬𝐮𝐜𝐜𝐞𝐬𝐬: “𝑇𝑜 𝑏𝑒 𝑡ℎ𝑒 𝑚𝑜𝑠𝑡 𝑡𝑟𝑢𝑠𝑡𝑒𝑑 𝑖𝑛𝑠𝑢𝑟𝑎𝑛𝑐𝑒 𝑝𝑎𝑟𝑡𝑛𝑒𝑟, 𝑙𝑒𝑣𝑒𝑟𝑎𝑔𝑖𝑛𝑔 𝑖𝑛𝑛𝑜𝑣𝑎𝑡𝑖𝑣𝑒 𝑑𝑖𝑔𝑖𝑡𝑎𝑙 𝑠𝑜𝑙𝑢𝑡𝑖𝑜𝑛𝑠 𝑡𝑜 𝑒𝑛ℎ𝑎𝑛𝑐𝑒 𝑐𝑢𝑠𝑡𝑜𝑚𝑒𝑟 𝑒𝑥𝑝𝑒𝑟𝑖𝑒𝑛𝑐𝑒 𝑎𝑛𝑑 𝑑𝑟𝑖𝑣𝑒 𝑠𝑢𝑠𝑡𝑎𝑖𝑛𝑎𝑏𝑙𝑒 𝑟𝑒𝑣𝑒𝑛𝑢𝑒 𝑔𝑟𝑜𝑤𝑡ℎ.” Let's embark on your digital transformation journey together. By defining a visionary roadmap, we can align your business objectives with technological advancements, ensuring resilience, agility, and long-term success. What are your thoughts on the role of vision in digital transformation? Share your insights and experiences in the comments below! #VisionaryLeadership #DigitalInnovation #StrategicTransformation #BusinessStrategy #FutureReady #OutSystems
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🌍 𝗪𝗵𝘆 𝗡𝗼𝘄 𝗶𝘀 𝘁𝗵𝗲 𝗧𝗶𝗺𝗲 𝗳𝗼𝗿 𝗧𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 🌍 We’re standing on a burning platform. The business landscape is shifting at an unprecedented pace, and companies that fail to adapt risk being left behind. The time to transition into an exponential organisation is now—and here’s 𝘸𝘩𝘺: 1️⃣ 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝗶𝗰𝗮𝗹 𝗔𝗰𝗰𝗲𝗹𝗲𝗿𝗮𝘁𝗶𝗼𝗻 The rapid advancement of innovation, as outlined by Wright’s, Moore’s, and Neven’s laws, has created a compelling business case for boards and executives to embrace change. The cost and complexity of technology are reducing while capabilities are growing exponentially. The question isn't if you’ll embrace it—it's when. 2️⃣ 𝗘𝘃𝗼𝗹𝘃𝗶𝗻𝗴 𝗖𝗼𝗻𝘀𝘂𝗺𝗲𝗿 𝗘𝘅𝗽𝗲𝗰𝘁𝗮𝘁𝗶𝗼𝗻𝘀 Today’s customers increasingly expect self-service options that fit their schedules, coupled with the ability to access expert support instantly. Seamless and frictionless omni-channel experiences are becoming table stakes in customer service. 3️⃣ 𝗘𝗺𝗽𝗹𝗼𝘆𝗲𝗲 𝗘𝗺𝗽𝗼𝘄𝗲𝗿𝗺𝗲𝗻𝘁 The workforce is seeking purpose and opportunities for growth and are eager to move beyond mundane, repetitive tasks to focus on high-value work. They want augmented decision-making tools that allow them to provide greater insight and service, driving both satisfaction and productivity. 4️⃣ 𝗘𝗺𝗲𝗿𝗴𝗶𝗻𝗴 𝗗𝗶𝘀𝗿𝘂𝗽𝘁𝗼𝗿𝘀 Whether fully acknowledged or not, there are disruptors on the horizon for a lot of industries. Organisations that are slow to modernise risk being left behind as new entrants and digital-first competitors reshape the market. 5️⃣ 𝗟𝗮𝗴𝗴𝗶𝗻𝗴 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆 𝗔𝗱𝗼𝗽𝘁𝗶𝗼𝗻 𝗶𝗻 𝗞𝗲𝘆 𝗦𝗲𝗰𝘁𝗼𝗿𝘀 Take insurance, for example—an industry where technology adoption has lagged. Yet the pressure to boost productivity and profitability is mounting. To remain competitive, businesses must accelerate their digital transformation. 🚀 𝗧𝗵𝗲 𝗘𝘅𝗽𝗼𝗻𝗲𝗻𝘁𝗶𝗮𝗹 𝗔𝗱𝘃𝗮𝗻𝘁𝗮𝗴𝗲 Exponential organisations leverage technology, innovation, and agile structures to drive 10x growth, not 10%. It’s time to move beyond incremental improvements and seize the opportunities before us. #DigitalTransformation#Innovation#ExponentialGrowth#Agile#DigitalFirst#TransformationLeadership#ExponentialOrganisations
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How confident are you in making 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐝𝐞𝐜𝐢𝐬𝐢𝐨𝐧𝐬? According to a recent Gartner survey, 𝟔𝟓% 𝐨𝐟 𝐝𝐞𝐜𝐢𝐬𝐢𝐨𝐧-𝐦𝐚𝐤𝐞𝐫𝐬 find that making decisions has become more 𝐜𝐨𝐦𝐩𝐥𝐞𝐱 over the past two years, and 53% feel increased pressure to justify their choices. 🚀 Supporting decision-makers in their daily tasks is now possible with 𝐃𝐞𝐜𝐢𝐬𝐢𝐨𝐧 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞 𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦𝐬: advanced systems that combine cutting-edge technology with 𝐡𝐮𝐦𝐚𝐧 𝐞𝐱𝐩𝐞𝐫𝐭𝐢𝐬𝐞 to enhance and automate decision-making. 💡 In her latest article, Maddalena Moretti explores the features of these new tools and how they are shaping the future of business. Read the full article → to.rulex.ai/DIPlatforms #DecisionIntelligence #Platform #DecisionMaking
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If we don’t execute decisions at the pace that business needs, they become less effective and a bottleneck. Also, executing decisions must provide high-quality and consistent results continuously. Therefore, the success of our business relies highly on the quality and speed of the operational decisions. We must be able to make faster, smarter decisions, which are continuously adapted to meet today’s demanding, changing business world. ▶️ https://lnkd.in/gFh7zjrD #oodlaloop #businessdecisions #decisionautomation #decisionmanagement #decisionintelligence
Decision Cycle - OODA
https://www.flexrule.com
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A Blueprint for Modern Businesses!! In today's fast-paced and ever-evolving business landscape, staying ahead of the curve is not just a choice but a necessity. Businesses that leverage innovative solutions like iMS Systems are not only safe and assured but also set themselves up for sustainable success. These systems are more than just software – they represent a mindset shift towards prioritising compliance, embracing technology, and fostering a data-driven culture. Embracing Compliance for a Secure Future: One of the key pillars of businesses utilising iMS Systems is their unwavering commitment to compliance. By taking compliance seriously, these organisations not only mitigate risks but also build a solid foundation for growth. Whether it's adhering to industry regulations or implementing internal policies, compliance is non-negotiable for businesses aiming for long-term success. Technology at the Heart of Operations: At the core of iMS Systems is cutting-edge technology that empowers businesses to streamline their operations, enhance efficiency, and drive innovation. By integrating technology into every aspect of their operations, these businesses are able to stay agile, adapt to market changes swiftly, and deliver exceptional value to their customers. Data-Driven Decision Making: In the digital age, data is king. Businesses that harness the power of data through iMS Systems gain valuable insights that inform strategic decision-making. From identifying trends to predicting customer behaviour, data-driven organisations are better equipped to stay competitive and seize opportunities in a dynamic marketplace. Leadership for the Future: Forward-thinking leaders recognise the transformative potential of iMS Systems and champion their adoption within their organisations. By embracing innovation and fostering a culture of continuous improvement, these leaders pave the way for their businesses to thrive in an increasingly digital world. Building Connected and Integrated Businesses: iMS Systems serve as a catalyst for connectivity and integration within businesses. By breaking down silos and fostering collaboration across departments, these systems enable seamless communication, efficient workflows, and a holistic view of the organisation. This interconnectedness not only improves operational efficiency but also enhances the overall customer experience. In conclusion, businesses that embrace iMS Systems are not just investing in software – they are investing in a mindset that prioritises compliance, technology, data-driven decision-making, forward-thinking leadership, and interconnectedness. By leveraging the power of iMS Systems, businesses can unlock their full potential, drive sustainable growth, and stay ahead of the competition in today's rapidly changing business landscape More info here - https://lnkd.in/gAkibpbG #Technology #AI #Compliance #Sustainability #ESG #Business #Operations
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In today's fast-evolving digital landscape, digital transformation goes far beyond updating technology. It's about reshaping business processes and fostering a culture of continuous improvement. Andy Watts, INSTANDA's Business Development Director (EMEA), shares how adopting a Benefits Realisation approach can help ensure digital transformation delivers tangible financial, operational, and strategic objectives. Key Takeaways include: ‣ Identify Clear Benefits: Define what success looks like and set clear vision and goals. ‣ Align with Strategic Objectives: Ensure IT initiatives contribute to broader business goals. ‣ Robust Planning & KPIs: Meticulous planning and metrics to measure success. ‣ Continuous Measurement & Flexibility: Monitor performance and adapt to changes. ‣ Engaged Stakeholders: Secure buy-in from all levels of the organisation. Curious about how this can work for your organisation? Read the full article for in-depth insights and practical tips here: https://lnkd.in/eiBQzEar #DigitalTransformation #Insurance #BenefitsRealisation #INSTANDA #Innovation #BusinessStrategy #CustomerExperience #Insurtech #OperationalExcellence
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I’m excited to share my thoughts on, "How to Unlock the Most Value from Your Digital Transformation." I've been directly involved in a wide range of impactful IT initiatives over the years, what have I learned? While selecting the right technology is crucial, successful digital transformation is about so much more — it's about reshaping business processes, cultivating an innovative mindset, and fostering a culture laser-focused on continuous improvement. In my latest post, I explore the concept of Benefits Realisation and its critical role in ensuring that digital transformation programs deliver tangible financial, operational, and strategic results. From enhancing customer experience to streamlining operations and improving risk assessment, the impact of a well-executed digital strategy is profound. Of course, if you’d like to have a conversation about un upcoming program of change and would like to know more about where INSTANDA could be of value, do get in touch. #DigitalTransformation #BenefitsRealisation #Innovation #Insurance #BusinessGrowth
In today's fast-evolving digital landscape, digital transformation goes far beyond updating technology. It's about reshaping business processes and fostering a culture of continuous improvement. Andy Watts, INSTANDA's Business Development Director (EMEA), shares how adopting a Benefits Realisation approach can help ensure digital transformation delivers tangible financial, operational, and strategic objectives. Key Takeaways include: ‣ Identify Clear Benefits: Define what success looks like and set clear vision and goals. ‣ Align with Strategic Objectives: Ensure IT initiatives contribute to broader business goals. ‣ Robust Planning & KPIs: Meticulous planning and metrics to measure success. ‣ Continuous Measurement & Flexibility: Monitor performance and adapt to changes. ‣ Engaged Stakeholders: Secure buy-in from all levels of the organisation. Curious about how this can work for your organisation? Read the full article for in-depth insights and practical tips here: https://lnkd.in/eiBQzEar #DigitalTransformation #Insurance #BenefitsRealisation #INSTANDA #Innovation #BusinessStrategy #CustomerExperience #Insurtech #OperationalExcellence
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Operational excellence avoids uncertainty, demanding data and details that simply are not available during the innovation journey. For example, at the drawing board stage, it is impossible to know what customers will pay for a product that is a year from being market-ready and whose features are still being defined. The need for data delays innovation projects, often to the extent that new products miss their market opportunity and only achieve a fraction of their expected financial outcomes. https://lnkd.in/dNyCZ-X7 #AppletonGreene #BusinessConsulting #CorporateTraining #ManagementConsulting #appletongreene #appletongreenandco #certifiedexcellence #accreditedassociatelearning #accreditedexecutivelearning #accreditedseniorlearning
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We are thrilled to announce a global strategic partnership between Swan Advisory Group and River Consultancy Group. What does this mean for you and our clients? We are action takers, not arm-chair advisors. This means we can now offer expert technology advisory and consultancy as well as business advisory services globally to make the boat go faster – from bow to stern. Who is Swan Advisory Group? As one of the emerging tech consultancies in the US, Swan Advisory Group empowers businesses to achieve growth, innovation, and sustainable value by aligning IT strategies with business goals. They provide strategic advisory services spanning your technology landscape that help C-level Executives make informed technology investments decisions. Intertwined Business and IT Strategies result in resolved friction between Business and IT, robust Operating Models, measurable operational and organizational efficiencies, improved IT capability maturity and a focus on executing IT transformation that prioritizes business need. Swan Advisory Group utilizes purpose-built software that harnesses the power of AI to help CIOs create integrated business and IT strategies. This innovative solution creates IT Strategy 10X faster by leveraging best practice frameworks, automation, templates and more… An initial conversation with Swan Advisory Group will demonstrate why they are good at what they do! What this partnership means for our clients and prospective clients: A One-Stop-Shop to create and deliver your business and IT strategies. We aim to exceed strategic goals, not just meet them. -Comprehensive IT strategy alignment with business objectives. -Portfolio analysis to align project outcomes to strategy objectives. -Enhanced technology investments and operational efficiencies. -Accelerated digital transformation journeys. -Sustainable growth and long-term value creation. -Access to a combined team of seasoned experts committed to your success. Book your free consultation now by reaching out to Robert Willis on [email protected] www.swanadvisorygroup.com #BusinessGrowth #DigitalTransformation #Innovation #ITStrategy #CustomerSuccess #Partnership #Consultancy #AI #TechnologyOptimization #Riverconsultancygroup #freeconsultation
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While authored in 1995, this article remains relevant today and reflects the essence of Altum Strategy Group and what we do for our clients. At Altum Strategy Group, we deliver the next wave. Thanks to #HBR for a blast from the past this week! https://lnkd.in/eYPZUt_b #AltumWave #businessleaders #finance #techonology #hr #risk #operations
Disruptive Technologies: Catching the Wave
hbr.org
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