Incremental Digital Transformation as a Dynamic Investment Portfolio

Innovate Deliver 2 min

Future readiness can only be developed through digitising, simplifying, reconfiguring procedures, informing decisions, and pursuing new ways of working.

Procedural modularity is essential for agility, but 51% of Digital leaders, 62% of CIOs, and 64% of CFOs indicate their operations are beset by friction and complexity.

Steve Hodgkinson, Victoria Police’s Chief Digital Officer, says executive leaders can overcome frictions by compounding organisational learning and developing digital fitness across the organisation.

This way, each part of the business will be enabled to offer digital solutions to incrementally deliver innovation across experiences and operations.

Steve warns against large digital transformation projects and says it’s better to secure dynamic funding for smaller initiatives across the organisation.

“I’ve worked in making big bets, which take a long time to deliver and cost a lot of money. It’s a very high risk because the environment is too dynamic. You’ve got to be able to get money in relatively small amounts and think of it as part of a dynamic investment portfolio.

You’ve got to mobilise projects quickly without going through onerous procurement processes.

Invest in platform capabilities and reusable assets so that as the journey goes on, more and more and more of what you need is pre-existing and reusable.”