Having a digitally enlightened Board shouldn’t be mission impossible. Find out how we can help you build the right one.
What’s the problem we’re trying to solve?
In our experience this boils down to three key factors
What is a Digital Board?
A Digital Board can be different things to different organisations. Whether you have identified a gap in Technology Governance or are looking to focus more attention on Digital, Innovation and Growth, a Digital Board can help you to navigate this complex journey into the future. In addition, perhaps you’re a technology company who is looking for guidance on how to best develop your products and services in line with customer demand. In any of these scenarios, forming a Digital Board can add significant value to your organisation.
In summary, a Digital Board is a group of experienced external technology/digital leaders operating as an extension to your organisation. They possess the rarest of combinations in Tech (EQ and IQ). They can succinctly articulate value (and risk) in your strategy and can help your organisation navigate the path ahead with the benefit of their experience. They are used to working at board level and are as comfortable engaging on strategic topics as they are on business operations. All of these individuals have extensive experience of managing large scale technology transformation programmes.
The value of a Digital Board:
Rebalancing the conversation:
First and foremost, a Digital Board will help improve communication, trust and strategic business alignment between your business strategy and digital opportunity. Interactions between executive management and boards have historically been episodic, typically occurring only at quarterly board meetings. Overlay this with rapidly changing technology, and the evolving business landscape, and it might suggest that boards and technology leaders should stay connected and engaged outside of board meetings. The evidence suggests though, that when it comes to technology, many boards resort to a more defensive position at the expense of topics related to technology-enabled business growth and expansion, such as developing new capabilities, business models, and revenue streams.
Where else can you get truly independent advice?
The one consistent thread is that it is very difficult to acquire truly independent advice. If you are seeking advice from a business consultancy on how to best address change, there is a strong chance that you are leaving yourself vulnerable to an army of consultants who are happy to take advantage of your position. Forming a Digital Board allows you to build a trusted relationship with people who genuinely want to see your business succeed. Like a traditional NED, they will become an extension of your organisation, taking the time to understand your company (culture, leadership context, strategy and constraints). They can offer you the benefit of their experience, acting as a sounding board for new ideas, as well as utilising their expertise to deep-dive into complex subject areas.
“@TheDigitalBoard assembled a truly high calibre advisory board to support the Nodes/Monstarlab executive through a period of enormous transition, growth and change. Bryan was a superb chair and facilitator, drawing out exceptionally high-quality conversation and insight from a diverse team in a truly collaborative way. I felt so privileged to contribute, and particularly to see the fruits of our stimulating discussions ultimately being put into tangible and effective use in the marketplace”
Jen Mossop Scott, ex Director of Business Systems at TalkTalk Group
The 3 “how’s” explained:
How many people make up a Digital Board?
A Digital Board can consist as few as one, and as many as six people, depending on the agenda and your ability to consume their advice. Each are hand-picked, assessed for fit and on-boarded into your organisation through our team.
How often would we meet?
As a group, we would recommend meeting a minimum of twice per year – maximum four times per year. Advisory Board members can offer additional “one-on-one” support to your organisation, depending on need.
How much does it cost?
There are essentially three pricing components to setting up and managing a Digital Board:
Initial consultation and project set up fee
Recruitment fees for each Board member
Management fee for the on-going management of the Board (Agenda setting, facilitation, pre-post engagement and follow up, production of minutes and insights).
Getting started….
Pre-Board Meeting
Shared
A Digital Board can consist as few as one, and as many as six people, depending on the agenda and your ability to consume their advice. Each are hand-picked, assessed for fit and on-boarded into your organisation through our team.
Client
As a group, we would recommend meeting a minimum of twice per year – maximum four times per year. Advisory Board members can offer additional “one-on-one” support to your organisation, depending on need.
During Meeting
Client
Presentation
Presentation of agenda
Clearly convey Client status update and all topics
Engage advisory board members
The Digital Board
Facilitation of agenda
Retain focus
Agitation on topics
Engagement
Energy
Post-Board Meeting
After each session, we compile a meeting overview, minutes, a summary, and a list of action points. The Digital Board will track all short-term and long-term action points, assigning them to the correct individuals in the client organisation and on the Board where appropriate, ensuring that all actions are followed up promptly.
We also gather feedback internally and from Digital Board members throughout so that any improvements to the process can be made.
Conclusion
A Digital Board optimises communication, trust and strategic business alignment by improving interaction between executive management and boards. It brings clarity to the rapidly changing technology and evolving business landscape and helps executive leaders stay connected and engaged outside of board meetings. It also helps organisations to understand and implement technology-enabled business growth and expansion plans through new capabilities, business models, and revenue streams.
Throughout the process, we are accountable for the ongoing strategy and implementation of your Digital Board in addition to maintaining regular communication with the client and Digital Board members. A Digital Board Account Manager will be assigned to own and execute the project.
Meetings are facilitated effectively, ensuring that all who are present have a voice in the room. Organic conversations are facilitated, but attendees will also be prompted when necessary. We also try and make sure that all agreed-upon topics area addressed in the allotted time.
Click to read our latest insights on “Winning Digital”
In this paper, we share our research into what we think it takes to “Win Digital”. We highlight the companies who we see as winning and what we think sets them apart from the rest of the field.
