New digital ecosystems, business and service models

New business and service models use partners and suppliers in different ways.

Rapid mobilisation can blur lines of visibility across the different parts of your business, creating a new digital eco-system and an increasingly complex threat landscape.

Questions to ask yourself

• Do you know who you are doing business with?
• How quickly can controls be reported on across your supply chain?
• How many of your suppliers use cloud to host your systems?
• Do you know who has your customer data right now?

Experiences and engagement

In our digital world news, good or bad, travels further and faster.

You need to transform how you engage with your stakeholders - partners, customers, employees, and regulators – in support of digital transformation, to ensure you are delivering positive outcomes for all.

Questions to ask yourself

• Is your adoption of digital technology excluding anyone?
• Is your tech investment achieving measurable and positive outcomes for your stakeholders?

Ambitions and aspirations

To realise your strategic ambitions you need to be confident to make the right decisions and quickly.

The ability to articulate and quantify opportunities and threats in a digital world is challenging. Market forces fluctuate at pace and require an agile and connected approach.

Questions to ask yourself

• Do you want to move faster, but feel held back by too much governance?
• Can your ability to deliver digital transformation safely and securely keep pace with your ambitions?

Changing external environment

You need to meet customer demands. Keep the regulators happy. And stay ahead of the competition.

But the risks associated with digital transformation are leading to increased scrutiny that is often out of sync with the progression of innovation – making it difficult for you to align these priorities.

Questions to ask yourself

• How quickly can you respond to rapid changes in the market, such as new entrants with different business models?
• Do you have adequate oversight of your global regulatory exposure?
• How close are you to your regulators?

Culture and leadership

In the digital era, success belongs to organisations that not only understand digital, but also live and breathe it.

Your leaders need to be digitally fluent, and quick to adapt to new and familiar digital risks. They need to navigate digital evolution with confidence.

You need to inspire the right organisational mind-set to enable new ways of working and a culture that embraces digital to the core.

Questions to ask yourself

• Is your board digitally savvy?
• Is your organisational culture keeping pace with business change?
• Does your business have a digital-first mindset at all levels?

Branding

A brand can be resilient for decades, but destroyed in minutes.

Your digital presence, brand and reputation, have never been more important, as you use it to expand or recast your strategic ambitions.

Questions to ask yourself

• What does your brand say about you and your digital aspirations?
• How resilient is your brand in the face of a crisis?
• What are your customers and employees saying about your business (including supply chain partners) online?

Organisation and workforce

Your digital success rests on building a workforce that is fit for the future.

Across your organisation you need to ingrain digital fluency without compromising on security. You need a workforce that is agile and able to keep pace with the speed of digital change.

Your risk and controls teams have a new role to play in this digital world. They must be at the heart of the digital transformation agenda, equipped and empowered to drive organisational value.

Questions to ask yourself

• Are your Risk and Control teams holding you back?
• Does your workforce understand the digital world, and their responsibilities?
• Is your workforce agile, secure and resilient?

Enterprise operations

Investment in back-end enterprise operations, processes, and new technologies is essential to realise your strategic goals.

But, your risk management must keep pace with a more dynamic and automated operation, and more often than not, this is an after-thought.

Questions to ask yourself

• Is risk management embedded from the start of digital transformation?
• Have you struck the right balance between after event assurance, and before the event monitoring?

Platform, data and infrastructure

The systems, technology and data that digitally represent your prospects, customers, partners, and suppliers is changing rapidly.

But as you digitally evolve your legacy infrastructure can hold you back.

Questions to ask yourself

• How do you monitor your technical control debt?
• Is enough spent on securing new technology?
• Are you confident about where your data is and who is accessing it?