Digital Transformation (Implications for the CXO)
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Digital transformation refers to the organizational change that occurs through the use of digital technologies and business models to improve the organizational performance.
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Digital Transformation (Implications for the CXO)
- 1. Digital TransformationImplications for the CXO @IndusaITSol
- 2. © Indusa 2016. 2 Agenda Digital Transformation Role of the CXO in Digital Transformation Transforming to a Digital Business Takeaways for You
- 4. © Indusa 2016. 4 Digital Transformation Overall organization growth. CEO TCO and increased ROI. CFO Zero downtime. New technology adoption. CIO Anywhere and anytime access to data. Seamless Customer engagement. CMO CHRO Better Collaboration. Increased productivity. Advanced Analytics Enhanced Collaboration Automation Innovation Why Go Digital?
- 5. © Indusa 2016. 5 CXO priorities CXO - Digital Transformation Top of Mind in 2016
- 6. © Indusa 2016. 6 How Can You Digitally Transform Your Business? Digital Transformation ANALYTICS Actionable and relevant insights into your business to achieve a competitive edge CLOUD Drive innovation and lower costs with agile and scalable cloud solutions CRM Customer engagement solution that delivers a real-time 360 degree view of your customer COLLABORATION Manage documents, share data and collaborate with employees across the enterprise ERP A complete business-management software— a suite of integrated applications IOT Leverage sensor technology through integration with business applications . MOBILE Harness the power of a mobile-first journey with industry-specific solutions .
- 7. © Indusa 2016. 7 BI and Analytics Transform data into intelligent action Mobile BI: Share business insights across your organization Advanced analytics: Analyze data at enterprise scale Hybrid BI: Access data on-premises, in the cloud, or both
- 8. © Indusa 2016. 8 Power BI Power BI is a cloud-based business analytics service that enables • Fast and easy access to your data • A live 360º view of your business • Data discovery and exploration • Insights from any device • Collaboration across your organization • Anyone to visualize and analyze data Experience your data. Any data, any way, anywhere.
- 9. © Indusa 2016. 9 Power BI
- 10. © Indusa 2016. 10 Customer Relationship Management (CRM) Sales Capabilities Accountability Customer Insights Planning and Management Collaborative Selling Mobile Sales Sales Analytics Cross-channel service Agent enablement Self-service Knowledge Social care Service intelligence Service Capabilities Marketing CapabilitiesMulti-channel campaigns Lead management Sales collaboration Social marketing Marketing analytics Social Capabilities Social listening Social analytics Social CRM Social engagement
- 11. © Indusa 2016. 11 CRM Key Features Account and Opportunity Management Business-wide social access Discover, share, and connect around customers with Yammer Communication tools Reach experts throughout the organization – or even your customers - with embedded presence, text, phone and video conference via Skype Marketing collaboration Gain visibility into how marketing calendar and campaigns impact accounts. Provide input into targeting and subscribe to alerts. Collaborative Selling and Customer Care CRM for Outlook Increase adoption by aligning with how team members want to work Guided business process Drive your teams towards desired outcomes with recommended next steps Comprehensive view Gain visibility into past and planned customer interactions and activities across marketing, sales, and service
- 12. © Indusa 2016. 12 Business Analytics CRM Key Features Embedded dashboards At-a-glance insights about the overall business and track progress against key performance indicators Interactive reports Easily investigate and take action with drill-down, interactive capabilities Advanced analytics Empower your teams with powerful analytic tools to conduct self-service analysis
- 13. © Indusa 2016. 13 Mobile Access CRM Key Features Tablet and phone solutions Make every second count and increase productivity by enabling team members to work seamlessly on tablets and phones Voice commands Use natural language voice commands to quickly manage CRM data Analytics Access customer and business insights anywhere and anytime
- 14. © Indusa 2016. 14 Internet of Things
- 15. © Indusa 2016. 15 Enterprise Mobility
- 16. © Indusa 2016. 16 Question for the Room When you think of Digital Transformation? What are your primary business objectives and challenges? Operational efficiency and growth? Customer engagement? Quicker time-to-market and delivery excellence? Business Simplification?
- 17. Digital Transformation - Use Cases
- 18. © Indusa 2016. 18 A leading manufacturer of motors and controls renovated their core technologies, extending new functionalities and leading to a complete digital transformation • Migration of ERP ecosystem to the cloud • CRM Online implementation to automate basic business processes • Mailbox migration to O365 and SharePoint Foundation migration from a hosted provider to Azure • Data analytics using Power BI and Azure Data Catalog as a data dictionary • Application development for better workflow and file management “It was an entirely new experience for us and has been a positive one. Our engineers have been able to work seamlessly with this model to produce highly innovative solutions. From the initial stages of deployment, we have noticed a significant increase in productivity.” - Director IT
- 19. © Indusa 2016. 19 A leading manufacturer of coatings has digitally transformed its business step by step “Investment in strong IT capabilities, combined with organizational and process changes intended to leverage those investments, will serve as a foundation upon which the organization can continuously envision and implement new forms of digital transformation.” - Chief of Strategy • Implemented an enterprise-wide ERP, and advanced Supply Chain Management system; and later invested in a CRM system • Centralized its order taking process into a single corporate call center • Field Sales mobile app for real-time transactions
- 20. © Indusa 2016. 20 IoT capabilities offer new opportunities to a leading manufacturer of ACs and looks to earn $200 billion from IoT alone by 2020. • An AC remote control mobile app that connects with AC using Access Point or WiFi mode • Allow access to all the features of AC remotely from anywhere • Provide security alerts through vibration sensors and fire sensors • Deployed the server on Azure cloud that manages the ACs connected thru WiFi “New technologies such as big data and IoT are spreading worldwide and therefore we need to have our own business model changed rapidly. The overall opportunity size for the company in the IoT space is over $2 trillion. We expect to get at least 10% of that market by 2020,” - Senior Vice President, Social Innovation and Global Industries
- 21. © Indusa 2016. 21 A well-known distributor of sporting goods and athletic equipment, footwear and apparel intelligence with various retail stores and online sites • ERP implementation for demand forecasting, planning, sales, service and more • Implementation of a cloud CRM for customer engagement • Utilize SharePoint to distribute reports, documentation management and manage other in-house projects • BI insight using SSIS for data analysis and accumulation • E-commerce sites on Java and support to the existing customer facing sites “The adoption of several enterprise applications provide our business lot of value in the sense that we can manage labour and costs and service levels much more efficiently” - Chief Information Officer
- 22. © Indusa 2016. 22 A leading Indian manufacturer and supplier of piping systems uses SharePoint as a collaboration tool and drives HR success with self-service forms and ERP integration • Intranet with features like event, document management, visitor details, meeting details, company information, survey poll, announcements, birthday reminders, holiday listing, etc • Integration with ERP - MIS reports for Dynamics NAV reports • Travel portal to manage employee grades, travel request (pre and post), travel claims submission by employee, approval by HOD and admin, admin processing of claims, report generation, and more “Before we do anything more we need to achieve greater productivity and efficiency with what we have in place now. Access to information made simpler including MIS reports and claims can be processed based on effective dates. The saved time can be better spent adding value in other areas of the business and we are making progress in our target of reducing paper usage.” - HR Head
- 23. © Indusa 2016. 23 Reimagining with Cloud • Sunaina Raina • PCDM Cloud, SMB West • sunainar@microsoft.c om
- 24. Transform to a Digital Business
- 25. © Indusa 2016. 25 Did You Think Of…? Data analytics? Planning and management? Management Business Intelligence? ERP and LOB integration? Finance Cloud Computing? Enterprise Mobility? IoT? Analytics?Information Technology Analytics and Data Visualization? Marketing Management? Digital Asset Management? Marketing Human Resource Collaborati on Tools? Cloud Apps?
- 26. © Indusa 2016. 26 Transforming to a Digital Business Innovate Operationalize Optimize
- 27. © Indusa 2016. 27 Q & A
- 28. Thank You https://www.linkedin.com/company/indusa https://twitter.com/IndusaITSol https://www.youtube.com/user/INDUSATechnicalCorp Corporate Headquarters 1 TransAm Plaza Dr., Suite 350 Oakbrook Terrace, IL 60181, USA Tel: +1-630-424-1800 India Offices 2nd Floor, GNFC Info Tower, SG Road Ahmedabad, Gujarat – 380 054, India Tel: +91-79-30484666 / 67 Pune IT Park, ‘C’ Building, 2nd Floor, 34, Aundh Road, Pune, Maharashtra – 411 020, India Tel: +91 020 30201214
Notes de l'éditeur
- Good evening everybody! Welcome to today’s event, which is on Digital Transformation - Moving beyond technology where digital meets physical. My name is xx and I will take you through the presentation. designation? Indusa is a firm based in Chicago with offices in India - both Ahmedabad and Pune, as well as the UK, which assists organizations across the globe to grow and evolve through world class services, people, and technology. Since most of you are here let’s get started with the presentation
- In the next xx minutes of the event you will learn about Digital Transformation, the components required for digital transformation, how you can transform your business to a digital business and much more. Digital transformation refers to the organizational change that occurs through the use of digital technologies and business models to improve the organizational performance. It is about rethinking what customers value most and creating operating models that take advantage of what’s newly possible for competitive differentiation. Today, becoming a digital enterprise is becoming paramount to business survival. For companies to get transformed digitally, they need to adopt two important movements: Renovate existing technology Exploit new technology Renovate existing technology: Think back to how business was done a few decades ago. There was no email, Internet or mobile computing. Now communications are instantaneous, huge amounts of information move through email and the Internet and powerful tools like ERP, SharePoint, and CRM are in the hands of owners and employees. We think in linear terms, but technology moves at an exponential pace. Renovating the existing technology refers to replacing the existing ERP, SharePoint, CRM and Mobility systems with their new and updated versions. A well-conceived and carefully planned technology renovation effort can revitalize a business and provide it with much-required space to grow. Exploit new technology: Imagine a world where almost any item can be connected to the Internet or company network via a mobile device, low-energy sensor, beacon or RFID chip. Here, data flows seamlessly from consumers and business devices to companies via the Internet, enabling new and improved products and services. With the help of technologies like Enterprise Mobility (EM), Internet of Things (IoT), and Business Intelligence (BI), this can be achieved. Exploiting new technology refers to using EM, IoT, and BI technologies to increase machine-to-machine communication and make everything “smart.” i.e. creating a network of smart devices. The session will be concluded with a Live Q&A session. I hope by the end of this presentation you’ll be able to figure out the right technology that could help you transform your business to a digital business.
- Digital transformation – the use of technology to radically improve performance or reach of enterprises – is becoming a hot topic for companies across the globe. Executives in all industries are using digital advances such as analytics, mobility, social media and smart embedded devices – and improving their use of traditional technologies such as ERP – to change customer relationships, internal processes, and value propositions. Other executives, seeing how fast digital technology disrupted media industries in the past decade, know they need to pay attention to changes in their industries now. Advanced analytics can help you identify most profitable customer groups or products cross sell improve products identify weak spots in operations; enhanced connectivity brings speed to operations, convenience, engages more people and empowers them with right information at the right time; automation improves accuracy, reduces turnaround time, reduces waste improves competitiveness; innovation takes advantage of emerging technology to expand reach, disrupt existing businesses; meet new aspirations in the market, improves customer delight and so on How digital transformation drives business value? Technology drives value in businesses in four ways: Improved Decision Making - based on big data and advanced analytics Enhanced Connectivity- with customers, colleagues, and suppliers for quicker information flow Automation of Manual Tasks– of manual activity, replacing labour with technology Product or Service Innovation– innovation of products, business models, and operating models Digital transformation can reshape every aspect of the modern enterprise – Customer Experience: Seamless multichannel experience Whenever, wherever service propositions Product and Service Innovation: New digital products and services Co-creation of new products Distributing, and Marketing and Sales: Digital marketing with higher return on investment Digital augmentation of traditional channels Digital Fulfilment: Full straight through processing and automatic provisioning Virtual servicing and administration Risk Management: Improved targeting with customer insights Embedded/automated controls and risk profiling Enhanced Corporate Control Improved, real-time management information systems and decision making Seamless integration into third parties
- http://enterprise.blob.core.windows.net/report/EIU_Microsoft_aspirations_FINAL_07-21-15.pdf?aliId=125874604 (http://enterprise.microsoft.com/en-us/) Organisations are using technology to create new business models, move closer to customers, and improve productivity and innovation. But at the same time, they are suffering from more complexity, difficulty keeping skills up to date and increased interdependence. These challenges are exacerbated by rapid change in customer expectations and work culture. While executives see technology as a way to achieve more at work and enhance job satisfaction, these benefits are often undermined by increased time and competitive pressure as organisations seek to do more with less. Automation will undoubtedly cause many jobs to disappear. But new roles will be created and not all functions will be similarly affected. Our research looks in detail at the impact of technology on finance, human resources (HR), marketing and information technology (IT). Overall, technology can be a huge source of strength and competitive advantage in the workplace. But it may also increase pressure on people and reduce their professional satisfaction, harming staff well-being and business performance. Organisations need to understand both challenges and opportunities if employees are to realise their aspirations. Other helpful links: http://www.themanufacturer.com/articles/creating-intelligent-digital-connections/ https://news.microsoft.com/apac/2014/10/27/apacitleadersdrivetransformation/#sm.0001qot1n91e3ocyny3g32z53rhyw
- AX 7 video - https://www.youtube.com/watch?v=N2H0Jvo2OK8
- Power BI demo Key message: Power BI is a business analytics service. With Power BI, you can now see all of your data through a single pane of glass. Live Power BI dashboards and reports show visualizations and KPIs from data residing both on-premises and in the cloud, providing a consolidated view across your business regardless of where your data lives. Talking points: This is Power BI in a nutshell and the overall benefits to your business. We will look at what this means for the IT Pro and the key benefits for IT on the next slide
- Power BI demo Key message: Power BI is a business analytics service. With Power BI, you can now see all of your data through a single pane of glass. Live Power BI dashboards and reports show visualizations and KPIs from data residing both on-premises and in the cloud, providing a consolidated view across your business regardless of where your data lives. Talking points: This is Power BI in a nutshell and the overall benefits to your business. We will look at what this means for the IT Pro and the key benefits for IT on the next slide
- Live demo
- Account & Opportunity Management Microsoft Dynamics CRM delivers the highest level of user experience for owners and sales teams. Businesses readily adopt our solutions because they align with how sales teams want to work. We delivered CRM for Outlook because sales reps already use Outlook daily to coordinate about accounts and opportunities. Rather than force staff members to leave the tools they already use and prefer, we aligned CRM with Outlook by embedding CRM functionality seamlessly into Outlook to maximize user adoption. Microsoft Dynamics CRM also eases onboarding and helps automate repetitive business process with a user interface that shows built-in business processes for helping users ramp-up and to bring consistency to customer activity management. These features help any customer-facing team – sales, services, etc. - spend less time on processes and more time with their customers. Something that is unique to Microsoft Dynamics CRM is the ability to keep sales reps informed about every interaction happening with their customers, from executive meetings to call logs and even marketing campaigns. Furthermore, CRM also provides sales reps with visibility into the past interactions of leads assigned to them, so that they have the context and insights to quickly covert leads into opportunities. Collaborative Selling and Customer Care With the selling process often involving multiple decision makers, SMBs need the collective knowledge of their organization to sell more and better serve the customer. Microsoft Dynamics CRM Online provides the full breadth of built-in collaboration tools. With Yammer embedded directly in CRM, everyone on the team can discover and share information about customers. With Skype, sales reps can check presence and get experts on the phone or video right in the middle of a customer meeting, leading to faster wins. You can even have a video call with your customers! Microsoft Dynamics CRM has also enabled collaboration by integrating marketing and sales. Now sales reps can leverage marketing activities by having visibility to the marketing calendar and marketing campaigns. Sales reps even have the power to manage which marketing campaigns their customers can see.
- To really get a feel for the health of the business, managers need to be able to turn data into insights and then use these insights to make better, faster decisions. Microsoft solutions help SMBs focus on the right information by providing powerful dashboards with real-time visualizations. You can access things like built-in sales reports to dive even deeper to hunt out the best opportunities. Teams can interact with the charts and reports to pinpoint just the insights they are looking for, investigate issues, and resolve them by immediately using built-in collaboration tools like Skype and Yammer. For more complex analysis, data can be easily exported into Excel and analyzed using Power BI for Office 365.
- Microsoft Dynamics CRM is aligned with how SMBs want to work. Mobile Sales is great example. Mobile Sales enables your team members to tap into CRM anywhere, anytime, by using popular mobile devices such as Surface, Windows Mobile phones, iPad, iPhone, and Android phones. With CRM enabled for tablets and phones, your team can make every second count – whether it’s the few minutes right before or after an important meeting or waiting to board a plane. Microsoft Dynamics CRM Online even supports voice commands for CRM. Use intuitive natural language commands to retrieve or create CRM data on mobile devices. For example, simply say “CRM: show me Contoso Pharmaceuticals” to pull up the account. When away from the office, your team still has access to the same business and customer insights, all from their mobile devices.
- Let’s see how the information flows from connected devices… …Take the example of a piece of equipment with multiple sensors in it that provides information from remote locations to a component manufacturer (like Rockwell) who’s part is embedded in the machine (e.g., a controller). The data gathered from those devices is sufficient to learn about the component performance and remote service engineers can monitor and help sustain healthy operations of the machine; and… …the benefit doesn’t stop there. When the component manufacturer shares this information with the machine builder, they together are able to fine tune the performance of the equipment as it ages. They are also able to redesign pieces that fail faster than others or reengineer the entire equipment when they collaborate to serve the end customer better. The result is an enhanced customer experience with optimized equipment and process performance… … And the information collected from devices is not only valuable for customer support, product planning, and operations purposes, but also for your sales and marketing efforts. Connected assets can yield insights into features customers use most, operator ergonomics, operator performance and ease of use information. These insights can be highly valuable to the marketing organization in helping develop marketing themes, localization and campaign strategies. For example, fuel economy and energy conservation may be key themes in the Eurozone area while long running production cycles may appeal to manufacturers in China. The result is delivering a differentiated customer experience…
- Field Service Mobile App (mFS) video
- http://enterprise.microsoft.com/en-gb/roles/marketing-leader/trusted-cloud-infographic/ Drivers of Transformation – page 8 of http://www.tcs.com/SiteCollectionDocuments/Perspectives/The-Digital-Enterprise-Vol-5-1013-1.pdf
- GG: Dynamics AX upgrade - for AX also the outsourcing of support is not a digital transformation for Nidec. transformation is about their moving to the Cloud, extending new functionalities, using third party solutions, integrating with other solutions, upgrade of AX version, new Warehouse management processes, expanding number of users. All the case studies that you present have to be narrated as case studies of your customer, not of Indusa. Your message to the audience is - see this is what this company did; you should also do similar things GG: SharePoint applications - we should present this as a Nidec case study, not an Indusa case study. so SP customization is not the correct term. Nidec built new SP applications to automate specific processes and allowing more business users to collaborate to do A, B and C. Just focus on what they did
- https://www.capgemini.com/resource-file-access/resource/pdf/Digital_Transformation__A_Road-Map_for_Billion-Dollar_Organizations.pdf Asian Paints, India’s leading manufacturer of coatings, has digitally transformed its business step by step. The firm has been able to maintain fast growth and globalize while increasing efficiency and reducing its impact on the environment. In the early 2000s, as part of an effort to reduce debt and increase internal efficiencies, the firm implemented an enterprise-wide ERP and advanced Supply Chain Management system. This helped to create an enterprise-wide platform that was the basis for further improvements in sales and customer processes. The change also liberated working capital that helped fund acquisitions in emerging markets. Asian Paints gained further efficiencies by linking subcontractors and suppliers on a B2B portal. In 2003, the firm invested in a CRM system. In 2010, Asian Paints centralized its order taking process into a single corporate call center. This change helped the company further improve operational efficiencies and sustain its growth. In customer-facing processes, the move entailed much more than just creating the call center. Retailers were encouraged to place orders through the call center, where they could receive a more consistent service level than they could through the firm’s 100 local depots. Centralized data also enabled delivery of products to large institutional customer job sites, giving the company a capability that competitors could not provide. The biggest change resulting from centralizing order taking was in the way salespeople interacted with retailers. Liberated from routine order collection, the sales team could focus on building stronger relationships. To enable a more meaningful dialogue between the sales team and each retailer, the company provided salespeople with vital customer data in the field using mobile devices. A rollout of tablet devices, which is currently underway, will further mobile-enable the sales staff. Asian Paints’ digital transformation also extended to internal production processes. High growth in paint demand creates the need to set up new manufacturing plants every three years. Given the scale and size of these plants, the firm has begun to focus on creating highly automated plants. Automation has led to greater scalability, better quality and stronger safety and environmental protections. The new plants are fully integrated from an information management perspective. Data from shop floor control systems and automated warehouses are linked seamlessly to the ERP. This has helped to further sustain the firm’s operational efficiencies. In India, Asian Paints has begun to sell services (such as a painted wall) instead of products (a can of paint). The services strategy has benefits beyond new revenues. Selling services helps to ensure that high-end products are applied properly, thereby improving customer satisfaction. Services also help the firm to get closer to the end-consumer, understand core consumer choices, and launch highend texture finishes. Additionally, having a contractor in a client’s house yields information that marketing staff can use to understand both customer preferences and potential demand. Gaining better knowledge of end-customer preferences is a high priority for the company, since its business model – operating largely through retailers – means that customer involvement has been traditionally very low. The relationship between IT and business executives has traditionally been very strong. The IT team consists of business graduates with a deep understanding of the underlying business processes. They act as internal process consultants. Governance is centralized and top down, with a strong executive-level understanding about the importance of standardization and coordination. Although business executives suggest many digital investments, IT executives originate others such as the firm’s new analytics initiative. Corporate growth and new technology demands have increased the challenges of digital governance. The firm is in the first year of a new portfolio planning process. “We have enjoyed great equity with the business because we have delivered solutions. But seeing so many projects coming at us, we felt that now we need to establish processes to match expectations and resources whilst taking on innovative projects,” says Mr. Manish Choksi, CIO and Chief of Strategy. Asian Paints’ investment in strong IT capabilities, combined with organizational and process changes intended to leverage those investments, will serve as a foundation upon which the organization can continuously envision and implement new forms of digital transformation.
- Hitachi – Indusa’s IoT case
- TeamExpress
- SharePoint Intranet and Travel Portal Revamp for Prince Pipes
- Microsoft
- Solutions: http://enterprise.microsoft.com/en-us/roles/sales-leader/ (Have made it generic for CEOs) CEO - Data analytics are no longer optional in business. As data expands at an exponential rate, the ability for a business to make actionable insights and decisions stand as a core differentiator between good and great. Still, modern research suggests only 15% of organizations use analytics to drive objectives. With Microsoft Dynamics CRM, your sales teams can sell more effectively in this new era. By providing the essential insight, guidance, and tools that employees need, you can focus on the right customers and priorities, win faster by collaborating with colleagues, and build a trusted relationship with customers through personalized and relevant engagements. Planning and management Hit your numbers by setting goals, monitoring results, and providing feedback and coaching in real-time with mobile solutions and integrating them with enterprise solutions like ERP, CRM, etc. CFO – Business intelligence and Enterprise Resource Planning Turn data into meaningful insights to drive your enterprise. With powerful business intelligence and ERP solutions, you can get deeper insights and make smarter, more strategic decisions faster and with greater impact. 3. CIO – Cloud computing By using pay-as-you-use cloud services and handing over the management of applications and data to third-party providers, companies can improve flexibility, reduce overheads and benefit from constant cutting-edge technology. Enterprise Mobility Management Boost productivity, collaboration, and agility with real-time access to business tools and information. Keep your employees productive on their favorite apps and devices—and your company data protected. Internet of Your Things The Internet of Things (IoT) is here today in the devices, sensors, cloud services and data your business uses. Begin with what matters most to your company: the Internet of Your Things. Unlock Insights from Any Data Empower people with robust BI tools to get business insights faster and easier — all through the tools they use every day. Enable App Innovation Drive business innovation and competitive differentiation with modern applications and application development. 4. CMO Advanced Analytics A fully managed big data and advanced analytics suite that enables you to transform your data into intelligent action. Marketing Management Accelerate your marketing operations with productivity and collaboration tools. Agile, responsive, and mobile—tools for the modern marketer. Digital Asset Management Marketing operations should run in a mobile-first, cloud-first environment – from work to life – making everyone on your team more powerful, more productive, and more integrated into key campaigns. Store, manage and easily distribute all of your digital assets in a way that works for both sales and marketing teams. Data Visualization Transform your marketing data into rich visuals for you to collect and organize so you can focus on what matters to you. Stay in the know, spot trends as they happen, and push your business further. 5. CHRO – Anywhere Access Empower people with collaboration tools and self service forms to get business insights faster and easier — all through the tools they use every day. Transform Your Line of Business Solutions Stay ahead of the competition, while saving time and money with HR applications on the cloud.
- Estimate the value at stake. Companies need to get a clear handle on the digital-sales and cost-reduction opportunities available to them. Digital—and digitally influenced—sales potential should be assessed at the product level and checked against observed internal trends, as well as competitor performance. On the cost side, administrative and operational processes should be assessed for automation potential, and distribution should be rightsized to reflect digital-sales growth. The aggregate impact should be computed and turned into a granular set of digital targets to monitor progress and drive value capture. Prioritize. Most organizations don’t have the ability, resources, or risk tolerance to execute on more than two or three big opportunities at any one time. Be selective. Figure out what areas are likely to deliver the greatest return on investment and the best customer outcomes and start there. While digital requires some experimentation, too many ad hoc demos and showcases lead to scattershot investments that fail to deliver sustained value. One retailer, for instance, ended up with 25 subscale digital offerings by not culling in the right places. Take an end-to-end view. One financial-services firm built a world-class digital channel but failed to update the paper-based processes that supported it—processes that were prone to error. That false veneer of speed and efficiency eroded trust and turned off customers. The moral? Although it may seem counterintuitive, overinvestment in a slick front end that is not matched with the corresponding high-quality fulfilment that customers now expect may actually lead to increased customer frustration. Align the business portfolio accordingly. In the long run, some lines of business will simply be destroyed by digital. Hanging on and tweaking them is futile. Companies need to act purposefully and divest where it makes sense, identifying what holdings are likely to be cannibalized or likely to underperform in the new environment and sloughing them off. Conversely, some areas will clearly need new capabilities and assets, which companies often do not have the luxury to build up organically over time. One retailer used targeted acquisitions to rapidly build out its e-commerce capabilities, allowing it to focus on defining strategy and aspirations rather than tinkering with the “plumbing.”