According to the Harvard Business Review, digital business reached a tipping point in 2018 with more and more organisations scaling up their digital capabilities. Nearly 90% of senior business leaders view digitalisation as a key business priority and, in many cases, they perceive it as a “do-or-die” imperative.
In addition to this, 66% of CEOs surveyed by the Harvard Business Review explained that they expect their business model to change in the next three years. Some 62% reported that they currently have digital transformation initiatives and programmes running in an attempt to make their business operations more digital.As market conditions change and customer demands evolve, having someone who is solely responsible for driving your organisation’s digital transformation efforts is becoming more and more important.
Enter the Chief Digital Transformation Officer or CDxO.
CIOs focus more on on short-term IT services and delivery. CTOs generally spend their days identifying the technologies needed to achieve specific initiatives. But the Chief Digital Transformation Officer analyses existing business processes – taking current market opportunities and future possibilities into account – and then develops a strategic plan that will add value to the business’ broader strategies.
- Act as a “transformer in chief”.
- Be a critical, independent thinker and a disrupter
- Have great influencing skills, business acumen and be adept at conflict resolution.
- Coordinate and manage comprehensive digital changes.
- Seek market intelligence on what other companies, especially competitors, are doing.
- Focus on the customer – understand what they want and design a customer experience accordingly.
- Develop new metrics to monitor transformation progress.
- Work closely with the CEO to ensure everything is functioning effectively.
The Chief Digital Transformation Officer is responsible for generating the digital vision for the future of the organisation. In order to do so, he or she must receive support from the CEO to ensure that their digital transformation plans are realised. Keen to keep updated on all things digital, innovation and business strategy? Our monthly newsletter is the resource you need. Subscribe below.