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8 Step Budgeting Process
for an Effective
Digital Transformation
by Scott Harper
https://by.dialexa.com/8-steps-to-an-effe...
Dialexa
We are on a mission to make every
company a great technology company.
We work with organizations to define and
exe...
It’s hard to
believe budget
planning season
is here already,
but it’s time to
start setting your
financial plans
for digit...
Your digital
transformation
budget can’t just be
used to deploy the
same technology
as everyone else—
it should be used
to...
We previously have had
a high-level
discussion around digital
transformation budgets,
but as you get ready to
actually set...
To read more you can find the full article at
https://by.dialexa.com/8-steps-to-an-effective-digital-
transformation-budget
Part One: Creating a
Strategic Budgeting Plan
Get the full write up of
this slideshare HERE
1. Looking at the Business as a Whole: 
As an IT leader, you can’t just think about
how you can deploy the next wave of
te...
You have to look at the
business from end-to-
end and consider the
digital opportunities that
are available to your
busine...
2. Don’t be Afraid to Cannibalize: Your digital
transformation goal should be to create new
markets. You might have to can...
Or you can broaden your downstream reach by thinking
of your solution as a platform.  A platform can help you
own the mone...
3. Talk to Your Business
Partners: Digital
transformation isn’t just for
IT to lead. You have to go
beyond your main finan...
4. Talk to Your Customers: What specific pain points are
your customers experiencing? When you understand
where customers ...
Interview your customers,
conduct surveys, and
analyze support tickets to
understand deeply what
they are thinking.
Get th...
These 4 steps will help you set the table
to actually plan your digital
transformation budget. From here, the
final 4 step...
Have you found the best path from product idea
to execution?
Download or free eBook:
https://by.dialexa.com/dialexa-the-pi...
Part Two: Plan With an Eye Toward Execution
Get the full write up of
this slideshare HERE
Getting your digital transformation moving will require a
budget focused on real-world execution. The last 4
steps of the ...
5. Be Bold, But Start Small: Digital transformation is
most successful when you think like a VC—creating a
portfolio of sm...
Too many companies place the future entirely in one big
product push rather than starting several smaller projects
and ite...
6. Review Your Processes
(Especially Customer-
Facing): Seeing where current
processes can intersect with
new technology c...
The point is to commit to
digital transformation and
make changes rather than
stumbling along with broken
or inefficient p...
7. Fill Out the Details for
Plans A, B, and C:
Finance executives and
CEOs won’t be on board
with a budget process that
ha...
Your details won’t be perfect,
but you want to get as close as
possible to instill confidence in
executives.  Several plan...
8. Have a Reactive Fund in Place: The
first 7 steps in this budgeting process
are responsive—responding to what
you’ve see...
However, market innovation is moving
faster than budget cycles and your digital
transformation budget must be prepared for...
Following this 8-step process will
put you in a position to really
capitalize on digital transformation
opportunities.
Get...
The heart of
your budget
planning has to
include a deep
understanding of
what you can do
to succeed with
emerging
technolo...
PROPERTY OF DIALEXA LLC ©2017 - CONFIDENTIAL & PROPRIETARY
Thank You
Doug Platts
VP of Marketing
marketing@dialexa.com
If ...
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8 Step Budgeting Process for an Effective Digital Transformation

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It’s hard to believe budget planning season is here already, but it’s time to start setting your financial plans for digital transformation. Your digital transformation budget can’t just be used to deploy the same technology as everyone else—it should be used to find where technology and digitization can help you truly change your market.

Full write-up: http://by.dialexa.com/8-steps-to-an-effective-digital-transformation-budget

Published in: Technology
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8 Step Budgeting Process for an Effective Digital Transformation

  1. 1. 8 Step Budgeting Process for an Effective Digital Transformation by Scott Harper https://by.dialexa.com/8-steps-to-an-effective-digital-transformation-budget
  2. 2. Dialexa We are on a mission to make every company a great technology company. We work with organizations to define and execute digital transformation strategies to improve business operations and customer experiences. Our services include: • Multi-Year Technology Roadmap • Platform Engineering • User Experience Design • Custom Software Development • Hardware Prototyping /IoT
  3. 3. It’s hard to believe budget planning season is here already, but it’s time to start setting your financial plans for digital transformation. Get the full write up of this slideshare HERE
  4. 4. Your digital transformation budget can’t just be used to deploy the same technology as everyone else— it should be used to find where technology and digitization can help you truly change your market. Get the full write up of this slideshare HERE
  5. 5. We previously have had a high-level discussion around digital transformation budgets, but as you get ready to actually set the budget, you need a more practical guide to budget strategy and execution. Here are 8 steps that will help you solidify your digital transformation budget. Get the full write up of this slideshare HERE
  6. 6. To read more you can find the full article at https://by.dialexa.com/8-steps-to-an-effective-digital- transformation-budget
  7. 7. Part One: Creating a Strategic Budgeting Plan Get the full write up of this slideshare HERE
  8. 8. 1. Looking at the Business as a Whole:  As an IT leader, you can’t just think about how you can deploy the next wave of technology, or get stuck trying to untangle a spaghetti set of legacy integrations. Get the full write up of this slideshare HERE
  9. 9. You have to look at the business from end-to- end and consider the digital opportunities that are available to your business in your current market conditions. Think about where the industry is going and what you can do to change the path of your business now to head that direction. Get the full write up of this slideshare HERE
  10. 10. 2. Don’t be Afraid to Cannibalize: Your digital transformation goal should be to create new markets. You might have to cannibalize your existing business, but that’s not a negative thing to do. Consider how you can move up the supply chain—from a middle-man only company to either a supplier or content producer. Get the full write up of this slideshare HERE
  11. 11. Or you can broaden your downstream reach by thinking of your solution as a platform.  A platform can help you own the monetization of your market. iTunes doesn’t own music, but the platform created the digital music category and pushed Apple to market dominance. Get the full write up of this slideshare HERE
  12. 12. 3. Talk to Your Business Partners: Digital transformation isn’t just for IT to lead. You have to go beyond your main finance and operations partners and talk to your CEO, the sales team, marketing, and product teams. These departments are where your best bets for innovative market change will come from. Get the full write up of this slideshare HERE
  13. 13. 4. Talk to Your Customers: What specific pain points are your customers experiencing? When you understand where customers see their market heading, where they turn for services other than yours, and who the up-and- coming companies are, you can more effectively plan your own digital transformation. Get the full write up of this slideshare HERE
  14. 14. Interview your customers, conduct surveys, and analyze support tickets to understand deeply what they are thinking. Get the full write up of this slideshare HERE
  15. 15. These 4 steps will help you set the table to actually plan your digital transformation budget. From here, the final 4 steps focus on what you need to plan for when actually executing the strategy. Get the full write up of this slideshare HERE
  16. 16. Have you found the best path from product idea to execution? Download or free eBook: https://by.dialexa.com/dialexa-the-pillars-of-a- successful-digital-transformation-strategy
  17. 17. Part Two: Plan With an Eye Toward Execution Get the full write up of this slideshare HERE
  18. 18. Getting your digital transformation moving will require a budget focused on real-world execution. The last 4 steps of the budgeting process will leave you in a better position to execute your digital transformation: Get the full write up of this slideshare HERE
  19. 19. 5. Be Bold, But Start Small: Digital transformation is most successful when you think like a VC—creating a portfolio of small bets with the aim that at least one hits big, making an impact within your organization. Get the full write up of this slideshare HERE
  20. 20. Too many companies place the future entirely in one big product push rather than starting several smaller projects and iterating to gain continuous feedback. Starting small is essential to realizing digital transformation ROI. Get the full write up of this slideshare HERE
  21. 21. 6. Review Your Processes (Especially Customer- Facing): Seeing where current processes can intersect with new technology can help execute digital transformation. For example, how could you make your employee training processes more effective with virtual/augmented reality? Or how could IoT sensors make it easier to collect factory metrics in real time? Get the full write up of this slideshare HERE
  22. 22. The point is to commit to digital transformation and make changes rather than stumbling along with broken or inefficient processes and old technology. Get the full write up of this slideshare HERE
  23. 23. 7. Fill Out the Details for Plans A, B, and C: Finance executives and CEOs won’t be on board with a budget process that has holes in it or doesn’t have hard numbers. To  sell your executives on digital transformation, you need a budget that is as tangible as possible with details filled out across multiple plans - Plans A, B, and C. Get the full write up of this slideshare HERE
  24. 24. Your details won’t be perfect, but you want to get as close as possible to instill confidence in executives.  Several plans are better than ranges of numbers for programs. Get the full write up of this slideshare HERE
  25. 25. 8. Have a Reactive Fund in Place: The first 7 steps in this budgeting process are responsive—responding to what you’ve seen in the marketplace or technology. Get the full write up of this slideshare HERE
  26. 26. However, market innovation is moving faster than budget cycles and your digital transformation budget must be prepared for it. Including a reactive fund in your budget will help you adjust to new innovation in the middle of the year rather than reallocating funds. Get the full write up of this slideshare HERE
  27. 27. Following this 8-step process will put you in a position to really capitalize on digital transformation opportunities. Get the full write up of this slideshare HERE
  28. 28. The heart of your budget planning has to include a deep understanding of what you can do to succeed with emerging technologies. Get the full write up of this slideshare HERE
  29. 29. PROPERTY OF DIALEXA LLC ©2017 - CONFIDENTIAL & PROPRIETARY Thank You Doug Platts VP of Marketing marketing@dialexa.com If you are looking to undertake a digital transformation initiative, contact Dialexa today and see how we can help make your company a great technology company. Get the full write up of this slideshare at https:// by.dialexa.com/8-steps-to-an-effective-digital- transformation-budget

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