Digital company - What does that actually mean?
There is a multitude of definitions for digital companies. The truth is, however, that "digital" encompasses a range of different dimensions and cannot be boiled down to a single definition.
According to McKinsey, "digital" comprises three main areas: creating new value for the core business, creating value for new business areas and building fundamental digital capabilities.
While the first area is perceived and implemented by many companies, e.g. through automated processes or improved customer service, the other areas are often ignored.
Digital change means that competition no longer comes just from one's own industry but from different industries. This means that companies can no longer concentrate solely on their traditional industry and sector. Truly digital companies are exploring how they can create value outside their core business.
Building digital capabilities is important because in a truly digital business, digitality does not start and end in the IT department, but each individual employee has a digital mindset. This includes data-based decisions, more agile ways of working and working with robots and artificial intelligence.
If you want to build your and your people's skills for digital change or need support in devising and implementing your digital strategy, don’t hesitate to contact us!