Agamjeet Dang speaks to ANCHAl SHARMA about the importance of a chief digital officer in an organization
What is the role of chief digital officer (CDO)IJ
It is transformational as he is responsible for the adoption of digital technologies in an organisation. With the beginning of technology, digitisation in organisations is on the rise. A Chief Digital Officer’s major role is to integrate digitisation in all aspects of various verticals.
What are the responsibilitiesIJ
The CDO looks at how the organisation operates and find ways to inject speed into processes. It could be as straightforward as working with IT to automate existing development processes. They can radically change how the company works by setting extremely aggressive goals for getting a product into the market by setting up ‘digital factories’ or cross-functional groups focused on developing one product or process using a different technology or managerial methodology from the rest of the company.
The CDO also tracks trends and build networks of people, technologies and ideas far outside of their company, constantly scanning the small-business landscape to identify possible acquisitions. He is also tasked with keeping an eye on the future, in terms of progressive trends.
What skills are requiredIJ
He must have a deep understanding of technology and the potential futures of technology, always remaining up-to-date on new digital trends and products. Success depends upon having a strong knowledge of what’s out there, what’s on the way, and the market trends governing both.
What are the challenges he facesIJ
It will always be the execution of their digital transformations and digital strategies. The reason behind this is the fluid nature of the digital world; a digital transformation could change the entirety of your business model…obviously a dangerous proposition. Execution requires not just deep technical knowledge and great project management but the ability to navigate executive politics and cut through resistance to change. Resistance to change is perhaps the largest hurdle as it grows exponentially with the number of management layers. Winning CDOs will minimize this resistance by getting to know employees, and understanding the management layers.
What kind of profile is selected for this roleIJ
First profile of CDO’s come from strong marketing and consumer business backgrounds, with solid grasp and proven track record in marketing and communications. CDOs must also understand business model innovation. Second profile of CDO’s will be people with strong techno-business understanding
What are CDOs needed todayIJ
CDOs exist to navigate a revolutionary change in how the world works and how business is conducted. Being at the front position of this revolution, they must be influential. Being influential allows companies to gain momentum with their digital transformation and this is one of the greatest gifts a they can bestow. CDOs must positively influence other executives, the board of directors, staff, vendors, the competition, industry leaders, Customer and more. It is a position for forward looking, well-rounded, strategic thinkers ready to change how the world works.
What is the expected salaryIJ
Ideally, the salary is in between Rs 1 crore to Rs 5 crore per annum.