Mergers & acquisitions, business application upgrades and migrations
It is especially when multiple value streams are present in the portfolio backlog when firms are exposed to the costly technology and business processes missteps.
Data Minds helps clients avoid costly missteps and helps move projects through the pipelines with confidence.
Digital Transformation Strategy, Planning and Implementation Consulting
Start with a plan to create value
Data Minds can help your team with strategic planning, identify the value-add opportunities by focusing on customer delight from the company services and employee satisfaction in performing their jobs.
Then, move forward with confidence
Data Minds extensive domain knowledge, experience and technical expertise allows law firms to transform their business through technology and process modernization.
Customers leverage our skills and abilities to gain new insights and perspectives, and seize new opportunities or remove bottlenecks clearing path for a better future.
By reviewing the broader enterprise project portfolio backlog, we help firms avoid costly missteps and budget overruns in project delivery plans.
We dive deep and deliver results.
We go beyond Tech in Legal Tech
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What is Strategy?
Strategy is a plan to create value. The way you plan to create that value is strategy. The financials show the results of your strategy, but it is a consequence. We need to look at how much value we create in the process; where the value or value proposition is for customers and where it is for the employees. The strategy should address the customer delight from the company services and employee satisfaction in performing the job. By focusing on these two measures we can protect and grow the company margins.
In short, by delighting customers and focusing on employee satisfaction you can add value to your organization. That should be the strategy. This strategy model is referred to as a "Value Stick" and at its core it is applicable to all.
It is also important to determine the company strategy execution path for effectiveness. There are many strategy frameworks but to illustrate the point we are trying to make let's quote two of them. The first is Porter's "Generic Strategy" model discussing the concepts of cost leadership, segmentation, and differentiation. Tracey & Wiersema extend Porter's basic strategy concepts into what they call "Value Disciplines." The primary difference between Porter's work and the value discipline model is that Tracey & Wiersema tie their model to customers by defining the customer intimacy value discipline there. Tracey & Wiersema also propose that an organization cannot excel in all disciplines because achieving excellence in one is incompatible with achieving excellence in the others.
The driving point here is that organizations MUST make key strategic choices and cannot "do it all" in order to create value and execute on their strategy effectively.
What are Strategic Plans?
Strategic planning defines how the organization will realize its strategic ambitions in the midterm. A strategic plan turns strategy into a clear roadmap of initiatives, actions and investments required to execute on the strategy.
Functional strategic plans, such as IT Strategy Plans developed by CIOs and other information technology leaders, document the choices and actions needed to move from the current state to the desired state, and contribute to the overall organization's strategy.
What is Digital Transformation Strategy?
Digital transformation strategy is, in and of itself, a broad business strategy. Developing a roadmap for digital transformation, aligned with the company overall strategic plan and guided by business outcomes, not technology itself, is foundational.
Development of a digital transformation strategy and plans reflects on the understanding that a business must strategically reposition itself in the digital economy. It is an essential building block to the overall strategy and strategy execution plan.
Legal tech is not a magic bullet
"Technology is a catalyst for legal delivery transformation and a foundational element for new delivery models, but a tech tool alone will not disrupt the industry. What will? New delivery models that are customer-centric, agile, align providers with the clients/customers they serve, leverage data, invest in (re)training their workforce on an ongoing basis, meld tech with human resources to optimize performance, and derive profit from performance and customer satisfaction, not hours billed. Technology is a means, not an end, for providers that fit this profile."
Mark A. Cohen, Forbes (https://bit.ly/3ALDXpx)
Technology is not replacing lawyers
"Technology is contributing to the demise of traditional legal culture, replacing it with a diverse, competitive, customer-aligned, accessible, and cost effective one where ‘legal professionals’ deploy technology and process to solve business challenges."
Mark A. Cohen, Forbes (https://bit.ly/3ALDXpx)
A Plan is not a Strategy
Having a plan, with goals, initiatives and budgets is comforting. But starting with a plan is a terrible way to make strategy.
Roger Martin, former dean of Rotman School of Management at the University of Toronto (https://bit.ly/3Ks0MSp)
Having a strategy has never been more important
How a firm finds the new and often talked about opportunities, however, has changed. This is why we need data-driven digital transformation frameworks and those with expert skills to guide organizations through change.
Data Minds Digital Transformation Maturity Scorecard
The Data Minds Digital Transformation Maturity Scorecard provides CIOs and top technology executives a set of strategy vectors and measures to facilitate decision making and deliver actionable insights.
Data Minds has the legal experience you can trust
Proven Track Record | 360-Degree Perspective | Leadership Experience
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