3 C-suite Members Reveal Tips for Successful Digital Transformation
Innovation, customer-centric design and business culture are three of the main drivers of successful digital transformation according to KPMG’s latest Executive Exchanges programme report.
Here we’ve selected three C-Suite members from the programme, all pioneers in their sector, who have revealed their thoughts about the key to successful digital transformation:
Rahima Valji, Eurostar’s former Chief Innovation Officer
- You must see the bigger picture for true transformation to be achieved;
- Transformation strategy must begin with the C-Suite; which must have the right technical expertise, drive and entrepreneurial spirit to “move the needle” and stay ahead of the disruptor;
- The challenge will always be showing benefits without having “pure numbers” to hand as evidence of the opportunities;
- CEOs must play an active part in leading the agenda and bringing new ideas to the board;
- Transformation affects the whole business and employees should be encouraged to be creative;
- You should create a culture where it’s okay to strive and to fail;
- Fear of risk and failure at board level often holds businesses back;
- Take a portfolio by portfolio approach and use data to progress the right projects for your business.
Martin Griffiths, CEO of Stagecoach Group
- Pace of change is being driven by disruptors, aggregators and technology at a faster rate than imagined;
- The future is all about the customer – building relationships and responding to the customer’s needs is really important;
- Innovation is about finding the right partners in technology, delivery and customer experience;
- The right external partners can help your business keep pace with change;
- Meeting customer expectations means responding to opportunities that disruptors bring to the market;
- You must empower people to innovate – give them the tools, training and opportunity to experiment;
- Failure is not a bad thing, as long as you learn from it and do the right thing the next time;
- You always have risks in business; it’s about taking calculated risks.
Will Whitehorn, Founding Shareholder of Purplebricks.com and former President of Virgin Galactic
- You cannot survive if you do not innovate;
- Innovation isn’t always new; it can be incremental, however, the business plan that goes with it can change in scale and pace;
- Research and data are the lifeblood of organisations in this digital age and if you can’t learn to interpret that properly, you will not be an efficient innovator;
- You cannot wait for trends, you have to seek them out;
- The Henry Ford truism – that if he had asked customers what they wanted, they would have asked for a faster horse – is right;
- If you don’t innovate, you may miss providing customers with something they seriously like;
- Disruptors use innovation to radically alter markets, but disruption only works if you can provide utility to people;
- A business’ culture is incredibly important, think about the customer as number one, think about places where no one has gone before in terms of business ideas;
- Have a culture where you help your people put the customer first;
- It’s important to innovate because someone is going to do for you if you don’t do it yourself.
- For more in-depth analysis and commentary from other CEOs featured, download KPMG’s Executive Exchanges report here.