(US and Canada) Girish Juneja, SVP, Chief Digital Officer, Dover Corporation, speaks about the need for digital transformation and the importance of transforming quickly. He says digital transformation is one of the few core value creation levers in a CEO’s hand. It is a way of rethinking products and services and the go-to-market and operations to create an exponential outcome.

Juneja explains how digital transformation means impacting the business in three significant ways. The first includes identifying areas where physical products can create new solutions that offer unique value to customers. The second involves digitally transforming the go-to-market function’s sales and marketing. The third is automation combined with cybersecurity.

Why does digital transformation matter? Juneja reiterates that it is one of the levers for the exponential outcome and for addressing changing consumer expectations.

Juneja, elaborating on why speed matters, emphasizes that digital transformation is not a cost-free exercise. It takes investments, and some investors expect a timeframe for returns on their investments.

Juneja says it is crucial to break the transformation journey into innings. Each inning’s outcome can be measured and moved up to the next level after delivering value. It is a fundamental ROI mindset that any CEO function needs because capital, when invested, expects a return.

In conclusion, he notes that a typical digitization journey should ideally take no more than 24 months per inning. That time frame allows a business to increase its level of digitization but deliver value against the investment each inning before moving to the next one.