An evening of uncovering our 'Digital DNA'
This month, our Auckland Deloitte Private Club welcomed Deloitte's Technology Research and Insights Leader for Europe, Hans van Grieken. An expert researcher and speaker on the digital trends that shape business, Hans flew over from his home in the Netherlands to visit the firm and share some of the key findings that his team have been working on.
Hans joined Deloitte around two and a half years ago and since then has worked to build the firm’s eminence in the world of research, as well as capitalise on the existing knowledge to hand. Recent work done by his team has included the 2019 Deloitte Tech Trends, an extensive report on the digital shifts driving business strategies.
In his Deloitte Private Club talk, Hans began by taking inspiration from a natural, rather than a digital source and spoke about ‘nature’s autonomous software’ – also known as DNA. Just as it’s something that we’re all set up with, he proposed the idea that organisations have ‘digital DNA’, a combination of traits that lead them to interact with the digital world in their own particular way.
According to his team’s research of over 3700 companies, there are 23 elements of digital DNA, which include an organisation’s ability to be intentionally collaborative and its operational flexibility. If businesses can understand what their DNA looks like, they can assess which traits will help them to move forward in the digital world and which traits might be holding them back.
Hans’ team have also identified four common digital DNA archetypes: fast-moving experimenters, with an appetite for investing in tech and an entrepreneurial spirit; talent leaders, who invest primarily in their people and are selective in their tech investment; laggards, whose development is stunted by their reluctance to stay up to date; chasers, who invest easily and freely, but not wisely. Naturally, as Hans pointed out, the first two are far more likely to survive as our digital world develops, but each unique approach comes with its own challenges. Each may be affected differently depending on the investments that they pursue.
Finally, Hans concluded the talk with a call for Technology Operating Models, mentioning that according to global statistics, only 1 of 200 start-ups reach a ‘scale-up’ stage of more than 10 million USD after 5 years. Then, only around 25% of these scale-ups are actually designed to scale in a digital world, missing the key architecture and tech foundations that allow them to evolve further. In short, to achieve success, a business model built for digital transformation is essential.
For those businesses concerned about whether their business is prepared for the future, another piece by the Deloitte research team, titled ‘Achieving digital maturity’, provides a comprehensive guide to improving a company’s digital capability and setting up a suitable business model.
Our Deloitte Private Clubs take place in our offices around the country and include informative presentations, panels and interactive workshops. They’re a great opportunity for those in the private sector to learn and network in a casual, supportive environment. If you’re interested in attending a future event in your area, please visit our Deloitte Private Club webpage and fill in the form.
Jen Scouler works in the Deloitte clients & marketing team across digital content and social media. She also works closely with Deloitte Private.