Defining new opportunities for digital growth
Mediq is an international reseller in medical equipment & consumables serving patients, prescribers, primary care, and institutions. They had started first digital activities on different levels of the organization and were already generating digital sales, but lacked a widely-supported ambitious digital strategy. To capture this traction and accelerate, Mediq wanted to focus their digital vision & strategic priorities and ensure the right investments.
SparkOptimus supported Mediq in defining their digital strategy in three phases: (1) vision & ambition, (2) coherent strategy & operating model, and (3) roadmap & kick-start.
To ensure success, it was essential to align people on all levels of the organization: the Private Equity owner, the Non-Executive Board, the Executive Board, and the Digital Team. Next to driving the content of the strategy, SparkOptimus took the lead in involving and aligning all stakeholders throughout the project.
The first step in defining Mediq’s digital vision & ambition was to create a joint understanding of how the world was developing and how this impacted Mediq. We did so by examining Mediq’s situation through three main lenses, then determining the expected impact of these developments on Mediq’s current business and plans.
Considering the developments and Mediq’s current strengths, we set the vision (‘number one disease manager through connected care in Europe’) and role towards each of their customers:
In the second phase, we created an exhaustive longlist of growth initiatives covering all potential growth directions and turned the longlist into a balanced portfolio of growth initiatives in an iterative three-step process:
This resulted in several potential portfolios of growth initiatives that each were balanced in cashflow and coherent from one strategic horizon to the next (e.g., investments in horizon 1 & 2 can enable success in horizon 3), but varying in focus between customer propositions, geographies, and horizons. The different portfolios were evaluated based on qualitative & quantitative criteria and the preferred portfolio of growth initiatives was selected.
To enable the selected strategy, Mediq’s to-be operating was developed in terms of organization requirements (capabilities, capacity, set-up, way of working) and technology requirements (architecture, development, data) based on SparkOptimus’ expertise & experience about what is needed to make the selected strategy work.
Finally, SparkOptimus developed a roadmap to get to the desired situation in terms of the vision & ambition, the coherent set of strategic growth initiatives, and the to-be operating model. Based on our expertise & experience with implementing digital strategies, the roadmap ensures a flexible & effective growth path based on short iterations and consists of building blocks that define what to start when & where (e.g. launch commercial pilot in country X & scale, design common architecture blueprints for Y, build multidisciplinary international team to achieve Z) and what is required to be successful (e.g. resources, investments, decisions, turnaround times).
Financial and resource implications that accompany the roadmap were made transparent based on a refinement of the cost drivers as developed in earlier phases of the project, providing a comprehensive overview of the required investments and expected benefits over time.
To kick-start the digital strategy, we developed concrete initiative charters (with a description, objectives, success criteria, activities, milestones, dependencies, requirements, team members) for the first year, aligned them with existing budgets, and set up the program governance to be able to manage the initiatives on time and within budget. The governance (leads, meeting rhythm, dashboards) was defined to be able to manage the program.
SparkOptimus defined a concrete digital vision & ambition for Mediq and ensured alignment between stakeholders on different levels of the organization, resulting in clarity & focus. We also made the required operating model and accompanying investments transparent and enabled Mediq to ‘hit the ground running’ by supporting the kick-start of the first initiatives.
I believe SparkOptimus has really set us on the right track. With their combination of strategic experience and digital expertise they fueled just the right discussions & decisions within our MT. Combining this with the skill to turn such a strategic plan in a pragmatic action plan was extremely valuable for us.
Alex JonkerEVP Supply Chain & E-Business Mediq