Doug’s Digital Transformation Journey: A New Challenge

Meet Doug, the hero of our story. He just started working as the VP of Business Development for WealthArrow, a Financial Services company with both Commercial and Retail Operations, and a large presence in the communities it serves. The CEO hired Doug because he is a smart, business-savvy executive with decades of experience making employees more efficient and customers more fulfilled. He is keen on adapting to ever-changing markets, and of course, increasing ROIs for the organization.

During his interview, Doug sat across the desk from the CEO, explaining his greatest strengths: identifying roadblocks, designing solutions, and creating long-term, beneficial relationships with other industry experts to “keep the ship floating.” Well, not just floating, but “cruising at an optimal speed.” Doug did not hesitate to address his weaknesses too. Doug was not equipped for the super-dynamic and quickly-developing digital world. At one point in the interview, the CEO asked Doug his thoughts on the future of A.I. in the industry and which vendors he preferred gathering predictive analytics. This put a foggy, caveman-ish look on Doug’s face.

After a few weeks on the job, Doug scheduled a meeting with the CEO to discuss obstacles in the way of WealthArrow’s growth. At this point, Doug had compiled a list of opportunities where the company could improve, and at the top of that list read two words: data analytics. Doug found himself asking, “Who is our perfect customer? What makes our current customers happy? What makes them tick? What are current trends in this market?” In his analysis of the company’s workflow and processes, Doug concluded that they were not doing a good enough job of managing and leveraging their data. He explained to the CEO that with a more advanced data culture, they could create a better customer persona, improve the experience of their current customers, and identify patterns and trends to help them stay on top of the market. Figuring out a way to better utilize data would become Doug’s main area of focus over the next several months.

Doug started doing research into the world of data analytics. He quickly discovered how out-of-touch the company was with the rise of new technologies in the space. He also learned that by the end of 2019, digital transformation spending will increase by 42%, which equates to $1.7 trillion! Doug knew that the normal way of doing things was not going to fly anymore. The world was changing, the company needed to adapt, and he was going to need some help in doing so. Doug was going to need a partner who was well-versed in the digital sphere to help him evolve this area of the business. So, he started looking for the right match, and eventually came across our friends at Bâton Global.

Doug’s first meeting with B|G opened his eyes to the endless opportunities of WealthArrow’s future. The team introduced themselves and their mission: to harness the power of business and use it to serve the world. Like himself, the team at B|G was passionate about improving the customer experience, and more importantly, had the digital expertise that Doug and the rest of his team lacked. This meeting was followed by several discovery sessions which involved further identification of problems within WealthArrow’s systems, most of which Doug himself had not even been aware. These sessions helped Doug and B|G create a shared vision of next steps in working toward necessary solutions. Doug was surprised to learn so much about an industry he had been a part of for so long.

B|G also discussed their research-driven framework that is helping companies like WealthArrow gather and utilize data. They start with Insight, acquiring a full-understanding of their client’s business and the world it inhabits. From there, they move to Innovation, acknowledging that techniques used in the past will not always help their client elevate to the next level. Then, comes Integration, which involves building capabilities for lasting change. The framework will ultimately delivers sustainable financial and organizational Impact.

After the completion of the final discovery session, Doug stood up, reached his right hand across the conference room table, and shook the hands of each B|G associate, excited and confident about the insights and opportunities that were soon to come with this new partnership.

Stay tuned for Part 2 of Doug’s digital transformation journey with Bâton Global.

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