BDO believes digital entrepreneurship helps in the hunt for new products and services, other markets and new sources of income. But it can also maintain and expand grow current customers’ share of wallet and convert more prospects into clients.
The process of getting in touch with both current and new clients, in itself highlights the need for digital transformation. According to TCS consultancy’s Global Trends Study, it all comes down to creating the best possible touch points with both existing and new clients. In its survey of 800 managers, 95% said digital technology is essential to make and keep contact with customers.
‘BDO helps organisations to make the most of the opportunities offered by digital transformation, while keeping a close and continuous watch on the risks.’
The risks are diverse: cyber threats, compliance with new laws on privacy and intellectual property, over-investment, and staff who lack the skills, management and leadership to make the switch. Organisations with organisational problems or without the habit of continual development also risk losing out financially. Anticipating risk is something we do. Risk management is in our genes.
We combine this focus on risk with a clear view of the opportunities digitalisation can bring. We are different, because we offer a combination of technological expertise and experience plus in-depth client and sector knowledge, and true professionalism. These three elements guarantee an integral approach.
‘Anticipating risk is something we do. Risk management is in our genes.’
The BDO 360° framework for digital transformation
Successful digital transformations require a well-structured, cohesive plan. BDO has developed the ‘BDO 360° framework for digital transformation’ to investigate what is happening within an organisation as a whole, and within internal processes. This starting point allows us to create clear targets and efficient methods to execute your digital transformation across all relevant areas.
The digital transformation of an organisation is guided by three key fields: five digital transformation focus areas, the level of digital maturity or
transformation phase within the organisation, and the internal level of execution.
The five focus areas are interlinked. This means as soon as you start the process of change in one focus area, it will automatically have an impact on one or more of the others. Your organisation will determine a strategy and a future vision for each focus area and together these strategies direct the transformation.
We will now explain this in more detail
An integrated approach is crucial
These three levels are the building blocks in every organisation wanting to go fully digital. There are various ways of making this change. The purest involves an organisation that devises a digital strategy from the bottom up, with a road map for the five focus areas.
In practice, organisations are more likely to start with a partial approach, implementing an enterprise resource planning (ERP) system or automating manual or mistake-sensitive processes. These impact the IT team, staff who have to learn to use new systems, clients who are served more quickly and the finance department, which reaps returns booked by the investment.
So an integrated approach is absolutely crucial when changing up complete company processes and business models. In many organisations, compartmentalisation is a major obstacle.
‘In many organisations, compartmentalisation is a major obstacle.’
BDO helps organisations formulate a clear, digital strategy that dovetails with the phases of development in digital transformation, and rests on the five, interlinked focus areas. BDO can also support companies in operational implementation, because we have the experience to choose which approach is most appropriate and will lead to faster results. We always look at the whole, even though our specialists focus on specific areas such as process mining, the development of a cyber security programme or the choice of data analytics. This enables us to use the appropriate strategic approach and operational tactics from the outset, whatever development phase your company or department is in.