A Chief Digital Officer (CDO) can help an organisation drive growth by converting traditional "analog" businesses into digital ones using the potential of modern online technologies and data. The responsibilities are varied and still evolving & in fact could lead a CDO to take over as the head of an organisation.
Five key roles a disruptive CDO can play are:
1. Transformational: A CDO's role is truly a transformational one today as it is responsible for the adoption of digital technologies across businesses. The CDO is charged with coordinating and managing complex changes that address everything from updating how a company works to building out entirely new businesses.
2. Integrating Digitisation Into Strategies: Digital isn't merely a thing-it's a new way of doing things. Companies, instead of focussing on developing a digital strategy, should instead focus on integrating digital into all aspects of the business, from channels and processes and data to the operating model, incentives, and culture. To get the strategy right will require the CDO to work closely with the CEO, the CIO, the CFO & business-unit leaders
3. Building Organisational Agility & Speed: CDOs can look at how the organization operates and find ways to inject speed into processes. It could be as straightforward as working with IT to automate existing development processes. They can radically change how the company works by setting extremely aggressive goals for getting a product into the market by setting up "digital factories" or cross-functional groups focused on developing one product or process using a different technology or managerial methodology from the rest of the company.
4. Increasing Customer Focus: A CDO can greatly help an organisation know their customer better & make it a driving passion and core competency of the organization. With technology and customer habits changing so quickly, developing a deep and detailed view of customer behaviour across all channels can provide a common reference point in any business. It allows the CDO to challenge existing beliefs and make changes. A CDO can use data mapping of customer journeys & show where opportunities and pain points exist.
5. Expanding Networks: In a digital world, threats normally do not come from established competitors but from innovative technologies that enable new businesses & start-ups to establish business models. For example one of the major trends in the payments sector is the merging of commerce and payment functionalities in the same app. CDOs can track such trends & build networks of people, technologies and ideas far outside of their company, constantly scanning the small-business landscape to identify possible acquisitions or partners that can provide complementary capabilities.
Guest Author
The author is Director and Chief Executive, Grassik Search
