In the digital era, where technology is advancing by leaps and bounds, digital transformation is no longer an option but an imperative for business survival and growth.
However, many organizations embark on this process without clearly understanding their starting point – like venturing on a journey without a map or a compass.
Digital maturity is that map: the exact point where your organization is on the road to transformation. It is not simply how many technologies you have adopted, but how you have integrated them into your strategy and how they have permeated your team, your processes, and your culture. It indicates your ability to take advantage of the opportunities offered by technology and face the challenges of an ever-changing market.
On this path of evolution – which must be accelerated because things are changing rapidly – companies must clearly understand where they are. This is the only way to choose the focus of their work and move forward at an accelerated pace towards a new stage. That is, without cheating themselves, with a concrete and objective method that allows them to pinpoint exactly where they are and the main challenges they must face in order to take the next step.
Some of these challenges may include:
Having a clear digital vision and strategy: What is the purpose of digital transformation in your company? How does it align with your long-term business goals?
Adaptability and flexibility: Can your organization adapt quickly to market changes and new technologies? Are your processes and structures designed for agility?
Having the required digital talent: Do you have professionals with the necessary skills and competencies to lead and implement the digital transformation? Are you investing in the development of digital talent?
Ability to incorporate new technologies: Can you evaluate, select, and implement new technologies efficiently and effectively? Do you have the necessary infrastructure to support these technologies?
Using data to gain insights: Are you effectively collecting, storing, and analyzing data? Are you using data to understand your customers, optimize your processes, and make informed decisions?
Why is it so important to assess digital maturity?
The data speaks for itself. According to various studies, only 16% of companies consider themselves digitally mature. Most are in the intermediate stages, indicating ample room for improvement. Those companies that reach a high level of digital maturity not only survive – they thrive. The same studies note that these organizations are 26% more likely to outperform their competitors, and are 2.5 times more likely to experience revenue growth above their industry average.
Digital maturity assessment is not just an academic exercise, but a strategic tool that allows you to identify your strengths and weaknesses, set priorities, and design a clear roadmap towards digital transformation. It's not about adopting the latest trendy technology, but about integrating technology intelligently and strategically into all aspects of your business.
At Summa, we have witnessed first-hand the transformative power of digital maturity. We have accompanied multiple companies in their transformation journey with unparalleled results, achieving significant improvements in efficiency, productivity, and growth.
Digital transformation is not a luxury, but a necessity in today's business world. Are you ready to look in the mirror of digital maturity and discover your company's true potential? At Summa, we can help you trace the path to digital excellence.
About the author
Ricardo Sonneborn is a partner at SummaPartners and has more than 20 years of experience in strategic consulting and corporate finance.