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Digital Transformation Director at GBfoods
Having a Digital Strategy is Mandatory
When speaking with other digital and IT leaders, it is common to hold conversations about the digital strategy. What I have experienced and find quite interesting is that there is always a doubt about what digital means to each one of us. And if we, as experts, do hesitate when defining what digital is, imagine the rest of the executive roles of other companies in the world. That’s the reason why I find it necessary to define in detail what digital means for your company. Depending on the sector, depending on the field, the type of customers, and the presence in the supply chain, the meaning of digital may significantly change. If you manage a startup whose core business is the end user, as in the case of retailers, then you should have a strong customer channel with the one you will impact your network; you will need to focus on consumer data and build a strong CRM that helps you build the desired loyalty that sustains this type of business. If you are a bank, apart from following a similar approach regarding consumers, you will put a lot of effort into cybersecurity and data compliance. But if you belong to a B2B company, let's take my example of a multinational food company, then you would need to dedicate much more time to digitalise your supply chain, your factories, and your operations. And here the discussion begins. Is it called digital only what reverts in increasing your net sales? Is Industry 4.0 not belonging to the digital strategy just because it does not impact the top line? I must say that I have a clear answer to these questions. Here I go: It depends.
Sorry for being that honest, but in my opinion, it depends on how the CIO and the CDO (if existing, could be both digital or data) have shaped the internal storytelling to the CEO. It means that if what we have sold to our top management is that digital will increase sales, then the answer is clearly no. Instead, if the storytelling is that digital means both efficiencies and new channels and opportunities, then it should be included. In my experience in GB Foods, we decided to define a digital strategy, understanding what we do from a helicopter perspective, including new opportunities and digital sales, but also efficiencies through new emerging technologies in place. That was reflected in the pillars of the strategy that basically were defined based on three levers as follows:
1. Taking into consideration the main strategic goals of the company,
2. Displaying the different aspects of the company from a holistic view (employee, sales, operations, factories, finance) and
3. Including the technologies that could help to improve each area (data management, automation, apps, industry 4.0 technologies, etc.)
It should be underlined that a digital strategy has to do not only with what but with how. Therefore, a change management stream, digital mindset framework, or similar wording pillar should be considered in the definition.
Depending on the sector, depending on the field, the type of customers, the presence in the supply chain, the meaning of digital may significantly change.
