Using a Maturity Model is a good starting point to assess your own organisation's digital maturity, particularly when contemplating a process change or technology project. It provides an idea of how you might be doing against your peers and insights into where improvements might be made.
Our standard’s based Digital Maturity Model examines fraud management and control within organisational documented workflows in an online context.
It focuses on higher value and more complex customer-facing processes.
In our experience the most common risk areas here are:
The threat from each of these will be understood to different degrees across any one organisation. Having the tools to enable internal discussions helps to upskill the whole team.
Why should you perform the assessment?
If your organization is not identifying and tackling its fraud costs, it is vulnerable to competitors who lower their costs by doing so.
What type of information helps?
High volume, low value transactions typically are subjected to a lot of management attention, so are often better optimised than the more complex lower volume, high value transactions undertaken. That's why we start with the latter.
This is a multi-layered approach.
The first step is a simple consideration of digital maturity factors across the organisation. This is initially shown as a spider diagram:
INSERT SCREEN GRAB OF A SAMPLE SPIDER OUTPUT, SMALL SCALE
Secondly, upon request, we can engage in a rapid assessment of digital maturity at the next level of granularity. The output often shows that organisations have functional and process areas operating at different levels of maturity. This can be a cause of project overspend or project failure if not correctly addressed in design and roll-out.
Thirdly, clients may request a more detailed assessment to be undertaken. This is a bespoke assessment, using some of our standard tools, against an agreed scope of assessment.
Getting started is easy…
We'll start with the first assessment type.
Thinking about how your organisation handles data, documentation, identity and authentication in its sales and service processes with new and existing clients, assess your view of your organisation’s digital maturity by entering a rating on the scale below from 0-5.
Move the slider to the desired number. Then check you're happy with it against the brief explanation of each scale rating available just below the middle of each slider.
A modest investment in further analysis and possibly also supporting technology could both minimise the potential for fraud and improve the customer user experience. These blog posts and related pages explain how to achieve this and the options available:
Alternatively, if you are ready, contact us to discuss further. Working with you to answer your most pressing digital improvement questions and running through a simple return on investment matrix will enable us to see if you positioned to take advantage of these technologies and if there is a financial case for investment.
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