‍Understanding Digital Innovation Strategy Assessment

‍The Digital Innovation Strategy Assessment is a systematic approach designed by StayShure to evaluate a company’s current digital capabilities and potential for innovation. The process involves thoroughly analyzing your business's current technological infrastructure and its alignment with your business goals. The process usually takes 4-6 weeks and requires weekly touchpoints from a contact on your team to help guide the process, approximately 1-2 hours a week.

How the Digital Innovation Strategy Assessment Process Works:

Phase 1: Vision and Goals for Alignment

Focuses on understanding your company's vision and objectives. Activities include defining the Unique Value Proposition (UVP), conducting a SWOT analysis, developing a business model canvas, and setting long-term goals.

Phase 2: Business Process and Tech Mapping

Analyzes existing workflows and tech stack. Involves creating an operations process map and conducting a comprehensive tech stack audit, evaluating tools for efficiency, redundancy, security, and ROI.

Phase 3: Prioritizing Needs and Opportunities

Uses a Needs-Value Matrix and Effort-Impact Matrix to identify high-impact, low-effort improvements, prioritizing areas that yield significant benefits with minimal resources.

Phase 4: Deliverables

Three main reports are provided:

1. Impact Report: Reviews business process improvements, tech stack optimization, and untapped opportunities, offering an impact estimate and cost vs. ROI analysis.
2. The Implementation Compass: A roadmap for implementing recommended technologies, detailing scope, timeline, and budget, focusing on high-impact, low-effort changes.
3. Secure by Design: Details the business's security vulnerabilities and proposes a range of security measures, from best practices to minimum necessary actions, tailored to budget constraints.

This service aims to drive businesses towards efficient digital innovation, crafting personalized strategies that enhance operational efficiency, ensure robust security, and unearth new revenue opportunities.

Conclusion

‍A Digital Innovation Strategy Assessment is not just a tool but a roadmap to digital success. By incorporating a Digital Innovation Assessment into your business strategy, you can navigate the complexities of the digital world more effectively and help modernize your business.

Are you interested in exploring how Stay Shure’s Digital Innovation Strategy Assessment can benefit your business? To find out more, book a discovery meeting that fits your schedule to find out how much the digital innovation assessment process would help your business.