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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
Expect

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
Shouldn't expect

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
Recommendation

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?
Competitor Analysis
Competitor Analysis

Not mandatory if you have a DDD Analysis
Business Process Documentation
Technology Architecture Documentation
Technology Architecture Documentation

Who needs to be involved:

Decision-making
CMO
Chief Marketing Officer
CIO
Chief Information Officer
CTO
Chief Technology Officer
CXO
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 Department
Marketing and Sales Department
HR Department
Accounting and Finance Department
Technology 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.