Digital product engineering organizations have demonstrated experience in launching cloud-native products. Organizations are aligned to the Agile/DevOps/Cloud triad. There is a breakdown for more future-looking roles like technology architects and delivery-focused engineering. Digital engineering organizations have adopted long-standing technology company career paths for non-managerial technology career paths.
100 - 80 PTS
There are technology architects and engineers with digital product development and domain experience to partner with the Chief Digital Officer organization. These resources may start aligned by product or be more generalist depending on the product strategy. They are dedicated resources for digital initiatives so that trust, collaboration and skills build over time. There are rotation programs that allow cross-product learning and business product management, product owners or developer experience. Architects and engineers have mature career paths that do not necessarily include the need to manage.
Digital Execution Ready
100 - 80 PTS
Your digital execution organization is building out roles and skills necessary to support domain-specific product delivery. They view the end goal as decreasing time to value. To get started, IT may have retitled senior business analysts with an architect or engineering role. There is heavy reliance on cloud providers or traditional systems implementation consulting, so continuous internal skills building is a gap. The organization is looking for partners to coach/do to accelerate and ensure digital product deployment meets revenue or profit targets and builds skills without waiting for long hiring cycles.
Digital in Process
There is limited to no digital engineering capability. Resources are brought on based on project funding and may be dispersed across multiple IT functional teams. To accelerate digital delivery and fill gaps, existing resources are retitled. Reduction in OpEx cost is the primary metric and sourcing strategy driver. Limited options are available for engineering talent to build the necessary skills, much less follow a strategically defined career path. Digital launches lag time-to-value targets due to traditional hiring and onboarding operations.
Questions & Answers
The question-and-answer section outlines why the questions are important, how they are weighted, and what best practice looks like.
Do you have a dedicated internal digital engineering organization?
Why we ask this:
To achieve digital product strategies, financial institutions are becoming more technology-oriented companies. An indicator is the presence of dedicated digital engineering teams. Executives know to borrow and/or reposition legacy service delivery-focused engineering is not enough.
How we weighed this question:
Investment in a dedicated team shows that a financial institution prioritizes investment in transitioning into more of a technology company as required to achieve digital strategies.
What best looks like:
The business sees digital engineering as a critical partner in better design and planning to increase building performance, price and time-to-market predictability. The financial institution, therefore, invests in and measures the digital engineering organization’s ROI based on boosting innovation, low-risk testing, consistent/predictable delivery and data-driven traceability across digital architecture.
If your CIO has not invested in a dedicated digital organization, work on an MVP organization and how you will partner to invest and build.
If the IT organization has established a dedicated digital engineering organization, ensure digital revenue/profit contribution and acceleration are primary KPIs.
If the digital engineering organization is primarily built from existing resources, invest in partners that will accelerate skills building through a coach/doer model.