Blockchain strategies  191

• The operating cost can be reduced by increasing productivity of the

employees.

• The budget can be allocated for innovation rather than BAU activities

to run the existing business.

• The capability uplift programme can contribute towards a successful

execution of the strategy for the organisation.

Establish Centre of Excellence

CoE is a shared facility with a group of best-in-class resources with skills

specific to the transformation initiative. CoE provides leadership skills,

best practices, setup standards, support, mentorship, research and train-

ing to other employees for a common strategic objective of the organisa-

tion. Usually, there can be multiple CoE initiatives regionally with the

common goal of achieving strategic objectives. CoE is usually a shared

establishment for a focussed area of the organisation to share ideas and

innovation best practices to achieve common technical and business

outcomes.

Requirements for CoE

Like the capability uplift initiative, CoE also is an essential and effective

tool to create business outcomes and value for an organisation. The follow-

ing are some of the requirements for CoE:

• The best talents are dispersed within a large global organisation. CoE

creates a platform and channel to coordinate the best talent across an

organisation.

• The organisation faces challenges to create a virtual team or working

group to provide best-in-class internal competency on specific topics

or areas. Collaboration and cooperation are essential between highly

skilled talents to achieve strategic objectives.

• The department or projects which are stalled or showing a slow prog-

ress can benefit from CoE.

• The organisation moving to a new innovative technology and requir-

ing an internal consulting arm with specialised knowledge on that

specific technology.

• The organisation changing its business model to compete in different

markets or regions.

• Strategic business objectives to reduce the operational cost and shift

the budget towards innovation.

• Recent acquisition of a company requiring major training and talent

development plans.