Wednesday, November 8, 2017

Road-Mapping IT Digital Transformation via Horizontal Approach

A comprehensive digital ready IT roadmap with a clear vision helps the business navigate through uncharted water and blurred digital territories.

IT provides competitive leverage to the business’ long-term growth. To keep IT relevant, IT management should focus on solving business problems, not just technical challenges. IT leaders have to take time to build a comprehensive IT roadmap which shows the step-wise transition plan and defines more than one way of achieving strategic goals and getting IT digital ready.

IT portfolio mapping to build distinct business competency: IT is not just the sum of services or processes, or monolithic hardware only, IT needs to build capability based unique competency via weaving all necessary hard and soft elements, in reaching high-level maturity. IT is business, IT portfolio rationalization is an activity more critical than ever because economic cycles are getting shorter, and decision cycles are getting short. To maximizing IT value and unleash the full digital potential, it is important to build a balanced IT digital portfolio with a set of differentiated capabilities to enable business growth and improve IT and overall organizational performance. Further, in order to make IT portfolio executable, an organization needs to make sure that enough resources are available to deliver tailored business solutions. This is the digital arena, IT applications, and its dynamics are totally different from previous age, beside automation, information availability, IT applications blended with current digital trends can deliver significant benefit to the business, such as business optimization, adaptability, real-time customer experience, innovative products/services. IT Portfolio management is also essential to successful digital transformation and as such, a comprehensive fusing of a firm's strategic capabilities and business competency.

IT Change Management road mapping and scenario: Digital is all about changes, and change is multifaceted with increasing speed and velocity. Digital transformation is a radical change. Thus, Change Management scenario needs to be an integral part of IT digital transformation road mapping. It is important to have a focused view of competitors, changing situations, alternative solutions and Change Management approaches. Change Management is about mentoring the human side of the business through profound, unsettling change. Change is a dance between the top management and the affected parts of the organization. Change Management is all about balancing the key business success factors impacting change, such as people, strategies, process, and IT. A comprehensive IT Change Management roadmap can guide through business transformation by involving the entire organization in major change efforts that support key business strategies to drive performance improvement, weave all important change elements seamlessly and make people change, process change, and technology change sustainable for the long term.  Thus, the focus of Change Management should include actions designed to sustain performance improvement and anchor change as a new opportunity, look beyond immediate problem resolution, and become an integral part of strategic management to achieve the business’s long-term vision.

IT Resource allocation scenario: IT investment is costly and IT resource is limited. Thus, resource allocation is critical to IT management prioritization and run high-performance IT with effectiveness and efficiency. IT doesn't exist to do everything it is asked. Nor does it exist to implement without business justification. It is there to manage a scarce and expensive resource for the business, IT resource allocation scenario needs to be transparent, so how the resource allocation is determined should be understood by all. The resource allocation is most contentious at onset, while the time issue gets magnified at the end of the initiative. To address the resource competition issue, the 'benefit' must often be articulated in user-specific currency. The bottom line is, for any company to succeed, it is essential for the entire company to be pulling in the right direction, including IT, via allocating IT resource, time, and assets scientifically. Thus, resource allocation scenario helps IT take advantage of resources effectively which optimizing cost, manage a well-managed IT portfolio, keep the business run, grow, and transform steadily, and create strategic business competency for the company.

Digital transformation is an evolutionary journey. A comprehensive digital ready IT roadmap with a clear vision helps the business navigate through uncharted water and blurred digital territories. With a comprehensive roadmap of IT digital transformation, IT leaders will act more as digital conductors, focus on integration and orchestration, harness effectiveness, look for productivity, improve efficiency, manage both business opportunities and risks, and accelerate change and digital transformation.


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Therefore, services today, including banks need to make a choice; solving functional needs by utilizing vertical expertise, or transforming to adopt a more platform-based approach which makes them customer owners, able to solve broader lifecycle needs.

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