"Companies with digitally savvy executive teams have 48% higher revenue growth and higher valuations (share price to sales ratio) and 15% higher net margins."
That, to me, and to many CEOs is pretty compelling
It reminded of an article I read recently which quoted, Jens Monsees, CEO and Managing Director WPP AUNZ
“You cannot solve the problems of the future with the tools from the past.” He's not talking about technology.
There is also the argument that digital talent will enable your business to pivot quicker. While I know, we seem to be heading back to some level of normality, but business won't go back to the way it was in 2019 and we know one thing for sure. There will be future shocks, and this time we need to be ready.
How can you get digital talent?
It's a classic discussion, do we buy or build?
I'm aware of a lot of digital talent and they are currently getting some great offers to go and work in businesses to turn them "digital". I'm not boasting, in fact it's pretty scary at how companies seem to want to spend money at "digital" with little or no clear "terms of reference". In many organisations it can take a year for the new hire to understand the culture, where they fit in and the "noise and signal" of corporate life.
The other option is to build, to take the people you have, who understand the systems and processes and change them.
We run a strategy session that allows business get a position as to their current "as is" processes. As part of that session, we also brainstorm the "to be" position and also the constraints (people, process and technical) that will stop the business getting where they need to go.
Where Do We Go From Here?
Just give me, or one of the DLA Ignite team and hour of your time and we can walk you through what we are doing in the form of case studies, what we are doing for other businesses to transform them to digital. No hard sell, just practical examples.
DLA Ignite is a global business and we understand that a "cookie cutter" approach to digital does not work, we have to take into account local language and cultural sensitivities. Which is why we have built teams across the globe, that can support you by country and industry sector.
Executive teams that understand how to wield the power of digital technologies are rare, but they deliver huge premiums in corporate growth and valuation.