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It is no secret that accelerating and transforming digital transformation is now the key to the success of every organization. The ability to use digital technologies is a key factor in achieving core business goals. Deloitte, for example, says digital technologies can help accelerate key strategic goals by 22 percent.[1]

In pursuit of digital transformation initiatives, VSM has emerged as an important strategy. VMS has been around for decades, and its use, urgency, and basic technologies have brought this approach to the forefront for many executives.

Basically, VSM refers to the techniques used to realize the value of a company’s products or services. As business leaders pursue their VSM initiatives in today’s digital world, many are finding that digital product management (DPM) is the key to speed and optimization. In the following sections, we will provide an advanced introduction to DPM and its key benefits.

Introduction to Digital Product Management (DPM)

Today, DPM represents the core of the digital optimized business. DPM is a strategic approach to ensuring that technology investments are highly profitable. Through DPM, they implement teams to facilitate technology management.

DPM needs to shift its focus from project management to product management. Although the two phrases seem to be the same, this represents a significant change with profound, systematic and cultural implications.

When teams support one-time projects, they have to go through a wide range of processes related to project definition, certification, financial support, and so on – and once a project is completed, the process for the next project must be restarted from the beginning. .

In contrast, when teams take a product-oriented approach, they begin to build financial support around strategic products. Products are sustainable, strategically linked and supported by specific groups around customer value. These groups focus on determining value and monitoring value supply over time. Through DPM, product managers can efficiently communicate the characteristics and impacts provided and provide plans and timelines.

Facilitation of DPM Benefits Pages Value Stream Management

Allows DPM companies to increase their work and delivery value streams. Based on a strong DPM initiative, VSM teams can realize a number of benefits.

  • Improve alignment.. Through optimized DPM, teams can link work to the outcomes described as part of a comprehensive business strategy. This creates integration and alignment between groups, giving better focus to key results.
  • Strengthen accountability. Product funders need to understand how money is being used and the expected results. DPM equips teams with improved visibility, so you can more effectively assess whether investments are delivering the desired results.
  • Increase efficiency. Allows DPM to make changes to the medium. By working on road maps, teams can better understand the impact of change, evaluate business results wisely, and replicate quickly and intelligently.
  • Improve results and ROI. Using DPM to streamline VSM initiatives, you can facilitate investments for groups to offer the highest value. In addition, you can efficiently display the ROI of investments made.

Conclusion

As organizations pursue VSM to achieve their digital transformation goals, DPM represents invaluable enablement. Through DPM, teams can more effectively ensure the greatest ROI and customer value of their digital products and services. Please learn more about how DPM leads to VMS success Visit. VMS on demand.

Find out how Organizations are using it. Value flow management for top-level visibility to align work, resources and investments with high-impact environments.

[1] Source Deleit, “Explain the relationship between digital maturity and financial performance”, May 26, 2020, Gurumurti, R., Shatsky, d. And Kami, J.

Copyright © 2021 IDG Communications, Inc.