Organizations don’t need to digitize all at once. Apply an MVP approach for a more iterative and affordable implementation journey.

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Digital transformation can be an intimidating prospect for executives. After all, such an initiative requires a significant investment of time, effort, and money — not to mention a total rethinking of outdated operational processes. The stakes are high; an organization that fumbles its transformation could very well spend its resources without achieving significant value for its efforts. 

Faced with so much pressure, many executives try to sidestep potential problems by meticulously planning the entirety of their digital transformation, move by move. But according to Gerent’s Insurance Practice Lead, Donn Vucovich, such an instinct is misplaced. 

“Leaders tend to spend a lot of time planning for three to five years out,” Vucovich commented in a recent white paper on transformation planning. “The problem is, a lot will change during that time. You need to focus on what your organization needs upfront, then slowly but surely frame out what you want to address longer-term.”

In other words, cautious executives should consider slow-rolling their digital transformation journeys. Instead of digitizing in a single transformative push, organizations can implement small changes and carefully cultivate them over time. This iterative approach helps organizations clarify necessary changes, develop effective solutions, and — mostly importantly — avoid costly transformation mistakes. 

Vucovich has a name for this implementation strategy: the MVP Approach.

What is an MVP approach?

As one might expect, the MVP approach leverages MVPs — i.e., minimum viable products.‍

Minimum Viable Product (MVP): A solution that provides only the features functionalities necessary to resolve a specific challenge. 

MVPs are intentionally limited in scope. By focusing on a single pain point, solution designers can develop and refine tailor-made solutions over time. This approach reduces the chance that engineers will waste time (and company resources) developing products or tools that the team doesn’t actually need.

Every MVP must: ‍

• Deliver Value — MVPs must identify and seek to address a specific pain point.
• Mitigate Risk — As limited-scope products, MVPs should not meaningfully disrupt operations or cause disengagement among users during development.
• Reduce Deployment Turnaround — Because MVPs are limited in scope, they should be quick to produce and refine.
  
  

By taking an MVP-focused approach to transformation, organizations can cultivate a suite of baseline solutions that suit their transformation needs without risking significant — or significantly expensive — developmental missteps. Then, designers can roll their initial MVPs out for user testing and feedback. This stage allows solution designers to identify potential problems and/or opportunities for improvement. 

“I call it the Build - Measure - Learn process,” Vucovich explained. “Organizations repeat the cycle as often as they need to produce a tailored and effective digital solution.” 

Once finished, these products can provide substantial value via increased customer engagement, better revenue growth, and lower operational costs. They can also set a strong foundation for the company’s eventual transformation into a full-blown digital business — i.e., a fully scaled and technologically-empowered company.

Not sure where to start? Connect with Gerent, a top-tier Salesforce implementation partner.

Measuring the baseline performance of your organization allows you to quantify your implementation’s success. A record of baseline productivity, production volumes, sales, leads, and other relevant metrics allows you to assess the return on your Salesforce investment. This information will also show you which areas need to be prioritized if more fine-tuning is required

Deploying an MVP approach can lessen an organization’s chances of making costly mistakes during the transformation process. However, even with iterative tactics, digitization is not an initiative that executives should take on without assistance. Doing so could mean risking failure or wasting the company’s valuable time and resources. 

To ensure a successful transformation, executives need to connect with an implementation partner like Gerent — a true collaborator who can help businesses successfully navigate the MVP development process. 

“It’s about partnership,” Vucovich said. “When Gerent takes on a client, we take the time to understand them. We want to know the ins and outs of their organizations, problems, and ideal future states. We have the implementation experience necessary to ensure that clients get the solutions they need on time and budget.” 

“We help design the roadmap, and we don’t part ways with our clients until we know that the client has arrived at their destination: that ideal future state.”

To find out how Gerent can help you team apply an MVP-based approach to transformation, contact our team today! Or, to learn more about what it takes to design best-in class digital transformation roadmaps, please download our white paper, An Actionable Guide to Digital Transformation in Insurance.