Digital Feasibility Audit

test if the potential path is doable

Scope

To evaluate the viability of a business idea or concept by considering all relevant factors and thoroughly analysing your current internal processes, technical preparedness, and digital economy metrics relevant to your future project

Leaders like to create new solutions or business models that have the potential to improve how the business operates. Whether these ideas look good on paper only or in practice as well depends on understanding the surroundings: examining the technology, physical infrastructure, the people at their disposal, as well as other resources and systems. The Digital Feasibility Audit can help you in reconsidering your digitalisation processes, redefining your operating models, and determining new business strategies.

The outcome of a Digital Feasibility Audit helps your company's management and stakeholders to gain clarity in decision-making regarding a digital project by evaluating the following 3 pillars:

Pillar 1

Business evaluation

On the one hand, we evaluate business considerations from the perspective of internal processes, and on the other hand, from external data such as economic and digital market indicators that show trends within and outside your industry. Considering these and the envisioned requirements of a given digital project, we refine the original concept and determine the functional business flow for it.

Pillar 2

Technology evaluation

We perform a technology audit on your current IT ecosystem regarding where and how data would be provided for your digital project. This means creating the high-level functional requirements and mapping all potential data exchange points based on a specified flow that was designed according to the business evaluation results.

Pillar 3

Cost evaluation

Cost evaluation is a critical and highly specialised part of a Digital Feasibility Audit that directly impacts the bottom line of a potential project outcome. We define the financial impact by an agile approach that offers modular budgeting and helps you build a sustainable business case. This allows your business to invest the required minimum at first in order to have the flexibility to scale your investments later, once the project starts delivering its first results. In addition to this, we estimate tentative future costs that are plausible for the defined model.

Benefits

Brings to light new digital opportunities and risks that were not evident from the start

Gather insights that help management teams and stakeholders in decision-making

Identifies the resource needs for implementation in detail

Pinpoints/Uncovers the strengths and weaknesses of internal processes

What to expect

The outcome of the Digital Feasibility Audit is an analysis that helps you determine whether the proposed project is feasible and should go ahead

DELIVERABLE
Your digital feasibility audit will be delivered by our experts on workshops and documented in PDF format

What you shouldn’t expect

It doesn’t replace market research to define your personalised digital strategy

It is not a Digital Due Diligence analysis

It doesn’t stand as a digital product documentation

It’s not an all-in-one generic feasibility, the audit is strongly connected to a predefined project

When is recommended

Your company wants to launch a new digital product or service

To address rapid market changes, you have created a concept on how you want to shift to digital, and you want to evaluate how feasible it is

You have a strategic plan that describes an innovative business model that you want to evaluate before putting it in action

You plan to expand your business to new markets with existing digital tools/solutions, and you need to evaluate if the company is prepared for it

Process

1. Strategic kick-off workshop

‍to settle the project objectives and expectations

2. Process audit

to analyse as-is and to-be processes and map potential gaps that hinder your expected outcome

Min. 5 workshops are recommended

3. Data analysis

to evaluate all collected internal and external data through a business classification that assists in taking strategic directions

4. Technology audit

to define the technology-specific requirements that meet the needs of your current IT ecosystems

Min. 3 workshops are recommended

5. Cost evaluation

to forecast the financial resources needed to deliver the project

6. Business case

to justify the project based on its expected business value

Min. 1 workshop is recommended

What to prepare

Please collect any available material on the following topics

Digital Due Diligence Analysis

Not sure what that covers?

Learn more

Competitor Analysis

Not mandatory if you have a DDD Analysis

Business Process Documentation

Technology Architecture Documentation

Who needs to be involved:

Decision-making

Chief Marketing Officer

Chief Information Officer

Chief Technology Officer

Chief Experience Officer

Future Project Owner

Operative support

Depending of the type and size of the project, you may need to involve the

Product Department

Research and Development Department

Purchasing Department

Marketing and Sales Department

HR Department

Accounting and Finance Department

Technology Department

Opportunities

Digital Feasibility Audit

Take measure of your next digital concept, today

If you have a grand idea for a new digital project, but you are uncertain whether it will be viable either from the perspective of business, technology, or finances, then we can assist you in making a data-based and strategically founded decision by conducting a Digital Feasibility Audit. Explore the true potential of your digital endeavours in a coordinated, ROI-driven way.

Talk with our digital experts