Understanding the Risks and Benefits Of Digital Transformation
Posted January 11, 2018| Nathaniel Emmons , Diane Borska
A global oil and gas company wanted to benchmark the progress, structure, and investment level of its digital transformation strategy. Working with Fuld + Company, the client gained insight on the organizational structure, business process, leadership, and technology focus of selected industry peers. They also learned how other oil and gas companies were addressing technology limitations and challenges, justifying investment and selecting technology partners.
Responding to a c-suite imperative, the client executives were confronted with the need to provide additional depth and rigor to the digital transformation strategy and to determine if the company was on pace with industry peers or if it was lagging in key technology areas. Further complicating this mission were the diverse digital technology status and needs of the client’s upstream, downstream, and chemicals business units.
To identify and assess peer company approaches to digital transformation, Fuld + Company to engaged with a wide variety of sources at the peer companies and within technology vendors to gather insights on best practices, technology hurdles, investment criteria, and anticipated and realized benefits. By interacting with sources at a variety of industry forums and leveraging our network within the industry within the industry, Fuld + Company assembled a large body of use cases, business processes, and technology selection criteria which, when analyzed, yielded substantial insights for our client.
Our findings identified the emerging and most effective investment trends in upstream versus downstream businesses and the variety of organization structures and business processes firms were implementing to fully realize the benefits of their digital deployments.
Result + Benefit
Through our comprehensive evidence and analysis, the client acquired a strong understanding of the state of digital transformation initiatives in other oil and gas companies. They also gained valuable insight on technology selection, partner selection, and organizational processes that yields optimal results. This intelligence helped the client benchmark its own progress and informed decision-making relevant to the next phase of their digital transformation strategy.