We are reaching the end of this module, and therefore the end of the course. But before we conclude, we have another highlight for you. We are very happy to welcome here Ralf Dreischmeier, he's a senior partner from our London office, and he's BCG's global leader of our technology advantage practice. Ralf, welcome, very happy to have you here. So Ralf, we like you to share with us themes around digital transformation, right? In our earlier discussion, we have talked about what it takes to have successful digital transformation. But from your practical experience point of view, what are the elements that companies employ to have successful digital transformation? >> Yeah, thank you, CF. So, clearly, the good news is that every company in this world will at some point over the next few years, and hopefully they have started already, go through these digital transformation that we've just heard so much about. The biggest levers for success, which are the same time also the biggest challenges are three-field, speed, scale, and value. When it comes to speed, it's simply about moving the dial in terms of delivering new ideas, new customer experiences, new product ideas in a much much faster way that is faster by a factor of two or three compared to what the company works on at the moment. Scale is the challenge to what you do in isolation in digital labs to make it available across the organization, make everyone in your organization to. And then there's value. I think it's fair to say that the question of what is the value of digital discretion is still out there and needs to be proven over and over again. >> So, I like it. Speed, skill, and value, makes a lot of sense. Which among these three elements do you think is the most difficult for companies to work on? >> I think generally speaking, they're all very difficult, very, very difficult. But I would think based on my experience having worked with many companies across many industries, scale is potentially most challenging one. Because most companies are able to deliver something quicker once they created a digital app environment, where they separate the business and the teams out and they can run in a very particular way in fashion. On the value side, the value proofs are there but pointy, they are not there overall. But scale is the real challenge. How can I do and deliver the change that I've applied to a very limited set of people and a very small environment of a part of a company? How can I scale it up to 1,000 or 10,000 or sometimes even 100,000? How can I make 100,000 of people work a job? That's the biggest challenge. And that is the challenge that most incumbents face and then they have to somehow address in order to become digital leaders. >> Mm-hm. So since you've mentioned the incumbents, and you have worked with many of them to undergo this digital transformation. Can you give us an example of a company that have successfully done this, and what were their secret source? >> Yeah. So, I'll give you one example which is in a particular era of digital transformation that I'm sure you've discussed before, which is their own customer journeys. So re-imagining customer experiences, in particular in the B to C world, but also increasing the B to B world. These customer journeys normally start as we're doing a project by delivering change in a different way. It's a project team, but a project that looks very different. It's no longer a project team that works with certain parts of the organization, it's a project team that comprises almost all functions of the organization, IT, legal, finance, operations, marketing, product management. And these projects, once they are set up and facilitated by agile coaches, run at a very very fast rate. Successful organizations, and one of my clients has done it very successfully, they have not stopped the project team once the project was over but continued to run this team as a permanent team, as the future structure of the organization. And as a result, we're able to scale it up significantly very, very fast versus their competitors who still were working it in project mode. >> Great, Ralf. Thank you very much for sharing your practical insight for experience on digital transmission. >> Thank you. >> There you go, it's indeed a highlight.
