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Stop Wasting Money on Digitalization

Most probably, you already know that managing digitalization effectively has become essential for a bank's competitiveness. But are you also fully aware of your strategic priorities? How can you be sure not to bet on the wrong horse – or app?

In a world where everything gets digitized, organizations need to understand the impact of digital transformation on their strategy. Are you a first mover or a follower? Where can you wait? What needs to be done with urgency? Before spending money to boost your business through digitalization, take a step back and focus on your business model. Do you fully understand what digitalization means for you?

This is the first question you must ask yourself. Because if you don’t, you may miss the point where you have to adapt to emerging customer needs before the competition does. And although digitalization calls for rapid changes, do not let fool yourself and follow every trend blindly. You cannot afford to waste time and resources implementing new tools that offer no real value to your customers, because before you know it, they’ll be gone to someone who does.

How to Do Digitalization Right

The starting point to encountering technological transformation is a structured approach to assessing your digital health based on an understanding of not just the technological implications, but of the big picture of what digitalization means to your business. To help organizations assess their digital maturity, Synpulse developed the Digital Health Check. It is a structured and comprehensive analysis of your market and your company and constitutes an essential prerequisite to developing a customized corporate strategy in the digital world. The Digital Health Check analyses external market forces and matches them with internal areas of action.

Figure 1: Forces and areas of action in digitalizing markets

By adjusting your corporate strategy for a digital future and setting the priorities right, you will ultimately become more efficient and establish a joint conception of digital transformation in your organization. The assessment will help you to close the gaps to the competition and create an ultimate client experience. Key focus areas can be explored, reviewed and prioritized - allowing a quick syndication across all business functions.

First Step to Better Digitalization: Find out Where You Stand

With our industry-wide established Digital Health Check, you can assess the risk exposure respectively to your company’s resilience in times of digitalization. The results of the assessment reveal your digitalization priorities and will enable us to make detailed recommendations for a bespoke action plan.

Go beyond the hype and become a real champion in building your digital future. Contact André Höhn (andre.hoehn@synpulse.com) to arrange a Digital Health Check.

  • André Höhn
  • Ekaterina Derkatch
André Höhn
Associate Partner
andre.hoehn@synpulse.com
 André Höhn
Ekaterina Derkatch
Consultant
ekaterina.derkatch@synpulse.com
 Ekaterina Derkatch
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