Accelerating value realization through project to product transformation has been saved
Accelerating value realization through project to product transformation
Why organizations are embarking on product transformation journeys
Product-centric organizations put the customer at their core and focus on delivering business value. Discover how product-led transformations allow organizations to create new business models with innovative products and services that respond to customer needs and market requirements.
- Becoming product-centric
- The imperative shift
- Embarking on a product transformation journey
- Get in touch
Many organizations are increasingly recognizing the benefits of moving from a project to product transformation delivery model and are aligning their IT organizational structures with product-centric roles and embarking on a product transformation journey. This white paper focuses on questions faced by organizations looking to make a true digital shift with product centricity at the core. It addresses:
- The imperative shift from project to product transformation
- Beginning a product transformation journey
- How Deloitte partnered with one of the largest US energy providers to reinvent their customer experience
The imperative shift: From project to product transformation
Today, many organizations are IT-centric. Their success is heavily dependent on how they can deliver software products and differentiated digital experiences. Traditional project models can slow an organization’s reaction to changing customer needs, technology, and market forces, as they typically require a large investment before any customer or business value is realized.
To escape this 'build trap,' organizations should consider changing their mindsets from production-driven to value-driven by adopting product-led thinking and planning methods. The shift requires organizations to rewire from top to bottom and reimagine how work gets delivered.
Embarking on a product transformation journey
Organizational change and mindset shifts can be daunting. A product shift doesn’t happen overnight. Organizations may be tempted to rapidly pivot toward a product-led approach and neglect to build the foundations and experiences necessary to scale effectively.
Deloitte has leveraged a successful framework to jump-start a transformation journey with many clients. The following tenets are needed to establish a successful product transformation journey:
- Clear definition of vision and product goals
- Purposeful collaboration
- Funding and budgets aligned to the highest-value business outcomes
- Fit-for-purpose architecture
These leading practices focus on starting small, with a single goal or product where a cross-functional team is mobilized to co-create a vision, identify the problems to be solved, and define what success means to them and their customers. This enables organizations to learn, develop their processes, and determine a suitable strategy for scaling the model. By starting with a small success story, the barriers to change start to come down, and trust and confidence starts to build within the organization.
Deloitte’s Service Delivery and Business Design Project-to-Product Transformation offering has been leveraged by clients across industries to help develop product-forward organizations by providing guidance on product strategy and transformation, building product value streams to enable business results, coaching product engagements, executing on roadmaps, and training organizations on the product mindset.
We have worked with many of our clients to successfully accelerate value realization on their product transformation journeys. The future of digital growth and value lies in the adoption of the product mindset, and we would relish the opportunity to embark on your product transformation journey with you.
Enabling effective digital service management and delivery
A product-oriented approach to in-house lawyering