The business world across industries is already connected with the Digital World through various IT Systems, Applications, ERP, Websites and so on… Digital Transformation is all about extracting the business benefits (Revenue, Cost, Risk Avoidance, Branding, Customer Experience, etc.) using the present digitalisation in the organisation and also adding relevant Digital Transformation Enhancers like Cloud, Data Analytics, Data Security, VA-PT (Vulnerability Assessment & Penetration Testing), ERP Initiatives / Effectiveness and Digital SWOT Analysis depending on the industry/business demands.
Why Digital SWOT Analysis?
Any organisation which looks for growth, through Digital Transformation possibilities discussed across the globe, needs to conduct this DTRA to understand the present level of digitalisation, the gaps in absorbing Digital Transformation Enhancers (Cloud, Data Analytics, Data Security, VA-PT, ERP Initiatives / Effectiveness…), and most importantly the need and relevance of such Digital Upgrades. This also includes understanding the estimated budget and also the RoI from Digital Transformation Initiatives. DTRA will give complete clarity to Management on their Digital Strengths, Digital Weaknesses, Digital Opportunities and Digital Threats. Digital SWOT Analysis helps Management to arrive at IT Budget as per the outcome.
What will be done in Digital SWOT Analysis?
A detailed Assessment on existing Digitalisation will be done across departments. Digital Transformation possibilities in every department considering SWOT Analysis will be captured along with its relevance and readiness. A detailed report can be generated for the Management for its review towards findings, gaps, recommendations on Digital Transformation Readiness. Also, the report highlights present Digital Investments, estimated budget for proposed Digital Transformation, expected business impact through Digital Transformation initiative for the organization, among other things.
Digital SWOT Analysis will consider three major parameters which are people, process and technology-specific SWOT points. This will help the Management to prioritise / budget digital initiatives considering the success probability.
Benefits of Digital SWOT Analysis
Every organisation must be hearing a lot about Digital Transformation, Cloud, Data Analytics, ERP, Digital Security, VA-PT, AI, IoT, etc. from the IT Industry. The CXO level in every organisation needs clarity in terms of relevance and readiness of all these Digital Growth Drivers specific to their organisation through Digital SWOT Analysis. Digital SWOT Analysis ensures to give clarity to the CXO level on Digital Transformation Readiness specific to their industry/organisation. This helps them in taking the Right Digital Decisions for their organisation.
Inspace being a pioneer in Technology Audit Framework – © Inspace Business Impact Evaluator, which helps clients to bridge the gap between business and technology. Inspace leverages its Digital Transformation Readiness Assessment (DTRA) services to support industries/businesses to reap the benefits/potential from every Digital Transformation possibility by way of arriving at a detailed Digital SWOT Analysis.
