Digital Benchmarking – The Essential Step to an Effective Digital Strategy

Technology is an essential tool for every company today. Unfortunately, most companies take a reactive approach to manage their IT systems. When they find that they need something to accomplish a business goal, they purchase it and go from there. This lack of a digital strategy is the most expensive and least effective way to manage this critical department.

If you are ready to take your business to the next level, one of the best places to start is by developing an effective digital strategy. The best way to start is with digital benchmarking - a process that will paint a clear picture of the current state of your IT infrastructure and provide the groundwork to move forward.

What is digital benchmarking?

Digital benchmarking is a process where a company analyzes their current systems to get a detailed understanding of where they stand. This is more than just creating a database of hardware and software in used. It involves learning how each system is used, what business need it fulfills and much more.

Once you have a full understanding of the current state of affairs within your own company, it is time to compare it against others, including:

  • Peers – Comparing your current position with your peers in your industry is critical for planning how to move forward. These are often direct competitors to your business, or those that serve the same type of audience but in a different geographic region. One area of focus in your digital strategy should be outperforming the competition.

  • Global Leaders – Looking at companies within your industry from across the globe is another key data point. Looking at how the top companies handle technology can give some valuable insights into how you should manage your technology systems.

  • Digital Champions – Digital champions are companies that are recognized for their excellence in their use of technology. These companies may not be in the same industry but comparing your use of technology to theirs will help you to plan for the future.

Proactive technology

Starting your IT strategy with digital benchmarking is the best way to transition from being reactive to business demands and becoming proactive. When done properly, a company’s IT strategy can help to drive its business practices. The IT department will be able to show the possibilities to the other departments of the company, and they can harness the features to push the company forward. Of course, this will be a complement to the requirements shared by the key people of the company, so that it can be incorporated into the overall digital strategy.

The Trianz approach to digital benchmarking

It can be very difficult, not to mention unproductive, to perform your own digital benchmarking. Having a third-party expert to perform this work is the best way to get accurate results that can be used to devise a long-term digital strategy. Trianz has helped thousands of businesses through this process, and we can help you as well.

Our consultants will analyze your products, services, IT infrastructure, value chains and organizational models, among other things. We will then compare the information about your company with the data we have gathered over the years. We have researched over 5000 companies across 18 industries and have developed a proven system using this data that will allow us to help you create an effective digital strategy.

If you are interested in going through the digital benchmarking process so you can prepare for the future, please contact us to speak with one of our digital strategy specialists.

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