What are you futureproofing, anyway?
When we’re talking lead times of a few weeks – even days – to get new products, services and features to market, you’ve got to be lightning fast to compete in today’s digital economy.
It’s no wonder, then, that firms are focussed on futureproofing their digital technology. But here at The Unit, we think they’re misdirecting some of their energy.
Digital isn’t a tech problem. It’s much bigger than that: it’s a business problem. In the current era, digital is your business, whatever your firm does, and whatever sector you’re in.
The only game in town
Digital disruption can now affect any market, at any time. Think back just 15 years, to when comparator sites were unheard of. Look at the effect they’ve had on the business propositions of insurers and utility providers. They’ve changed the game.
And it’s not a game you can choose not to play. Customers take it for granted that they can engage with your brand whenever, and over whichever channel, they choose. If they can’t, they’ll be quick to switch allegiance to a competitor who can.
The reality is that futureproofing digital is futureproofing your business.
Flexing your systems
Sure, there are technology issues to deal with. Many firms have core systems that aren’t compatible with digital applications.
But add some flexibility and agility around the edges, and you’re back in business. This is done by opening up your IT infrastructure – and the data that lives on it – to technologies such as web services, containerization and APIs.
A word of caution, however. This has to be done in ways that create seamless – and secure – experiences for your customers.
New ways of working
Getting products and platforms to market fast enough means embracing continuous delivery.
You need to be constantly developing and testing proofs of concept, prototypes and minimal viable products. Then rapidly deploying them – and moving on quickly if they don’t work out.
But continuous delivery isn’t something you can just start doing overnight. Your whole organisation needs to be geared up for that sort of agility. That includes your culture, practices, processes, the tools you make available to your workforce, and so on.
A two-pronged approach
Creating the systems and culture to futureproof a business for the digital world is a two-stage process.
First, you need to set the vision for what your business needs to be in the digital world. Then execute it – quickly and effectively.
Design
Understand what you’re futureproofing before you do anything else. What’s your proposition for the digital economy? What do your customers want from you? And how must your business change in order to deliver it?
Then assess your capabilities. What skills will you need to make your digital vision happen? Which do you already have, and in what numbers? Which are you lacking altogether? How will you recruit and retain what’s missing?
Execute
Help your employees to understand what you’re futureproofing – and why. You can’t expect them to execute your digital vision if they don’t understand it. Enlist your top team to communicate what everyone’s working towards, and get them on board with it.
Inject the necessary skills. This goes further than hiring right people. You’ll also need to appoint specialist partners with the capabilities to help you rapidly adapt your infrastructure, and drive continuous delivery. Also consider bringing in mentors to coach your people on working digitally.
Understand your customers to the nth degree. Visualising customer segments as personas, and mapping each one’s buying journey, goes a long way to helping you create the experiences they want.
Finally, give your people the tools, practices and processes to move fast, collaborate effectively, and adapt quickly to change.
If you can get these steps right, you’ll give yourself every chance of futureproofing your business against the new world of constant digital disruption.
Please get in touch to discuss how The Unit can help you futureproof your business for the digital economy.
