digital-transformation-journey-move-faster-act-smarter-predict-future

S
Swami NathanBusiness Analyst à Wipro Technologies
wipro.com
Digital Transformation Journey
Move Faster, Act Smarter, Predict Future
1
t could be ‘a new way of
working’ to manifest agility; it
could be ‘a mindset’ to ensure
permeation beyond traditional
business models; it could be a
‘technology’ to cater to the
ever-growing demands for
scalability and simplification;
more importantly, it could be
‘an experience’ – which takes
customers through their journeys
as users, providing control and
choice, understanding needs and
demands, enabling help on the
fly, and scaling them to navigate
across contexts and channels
for an unified and intuitive
experience. ‘Digital’, in modern
business parlance, can be
perceived or absorbed in
multiple ways.
Digital today is all about the
experience customers will never
forget - simple and agile, at the
same time, engaging and
enterprising - be it through
customer - facing channels or
simplification of back-end
systems. It is evolving, and will
continue to evolve without a finite
direction as long as the needs and
demands of mankind continue to
dominate the business world. The
ones who stand a chance in this
digital race would be those who
foresee the future demands of
their customers and make the
right effort to meet them.
The opportunity a Communication
Service Provider (CSP) has today
to attract its customers is through
simplification of its interactions
and channels, products and
services without passing over the
burden of technology to them.
Today, customers are not worried
about the underlying complexities
systems carry, but are more
focused towards applications and
services that provide them quick
response, context, speed and
lesser transactional cycles. While
this may sound simplistic at the
fore, the effort required to
execute this transformation
demands astute strategies and
planning. While some do, not all
digital transformation requires an
overhaul of back-end systems.
This makes the task of finding the
‘magic mix’ (Figure 1) to deliver
optimal experience to their
customers more strategic
than technical.
The ones who
stand a chance in
this digital race
would be those
who foresee the
future demands of
their customers
and make the
right effort to
meet them.
2
Defining the customer journey today
is a more challenging but inevitable
need of a CSP. Customers can begin
their journeys from any channel, at
any place, at any time, for anything!
They can context-switch back and
forth from one channel to other,
making it a complex non-linear
engagement. Customers are
unhappy with leading players across
industries as they lack a unified,
contextual, cross-channel information
retention and experience. CSPs,
in-order to sustain the needs and
demands, have to address this rising
challenge through omni-channel
platforms and an orchestrated
framework.
There is a need to treat customers
today as personas rather than
identities since customers can have
multiple personas within them for
different needs, at different times,
at different places. Having a
persona-based customer experience
will ensure CSPs to mature in their
Digital future: the
tough road ahead
markets, where customers will
appreciate the fact that their entire
needs and wants are now taken care
of proactively by their operator.
Based on an estimate, by 2020, there
will be an estimated 50 billion active
connected devices, and this itself is a
stellar testimony to the perception
that world is moving towards a
connected,personalized environment
where the needs and demands a
customer might have tomorrow
needs to be predicted today itself.
Along with the impulse fora
transformation from an outside-in
perspective, the instinct for survival is
driven from within as well. The growing
threat from over-the-top (OTT) players
and other substitutes in the market which
offer data and voice capabilities can lead
to a potential ‘dis-intermediation’. This is
compounded with a looming but
imminent entry of the likes of GAFA to
the market to provide communication
services. This can potentially raise a
threat to the very existence of
Enhanced customer
experience
Operational excellence
Hyper automation
and efficiency
New revenue streams
for profitable growth
Diverse products and digital
services, ecosystems
Simplified and reinvented
business models, processes
and systems
Figure: 1 – Drivers for a digital transformation
3
contemporarycommunicationproviders,
unless telcos move beyond boundaries
to expand their business or rather
expand within the contours to diversify
their portfolios. Telcos not only need to
beapartofanecosystembutalsohaveto
start to own and lead one of its kind,
thereby neutralizing the threats to
an extent.
The need for partnerships and
ecosystems, henceforth unleashes
another major opportunity telcos
must focus on today – need for new
revenue streams and expansion to
adjacent verticals. They need to
provide digital lifestyle services and
solutions like mobile payment,
connected healthcare, connected
home etc. The launch of new products
and services demands immense
market perception.
Exploring data monetization
possibilities through advanced
analytics provides immense control to
CSPs over their customers. It positions
them as ‘lifestyle providers’ by helping
their customers with more
hyper-personalized and localized
services through ‘contextual
interactivity’ and ‘content of relevance’.
It also adds value by reducing churn
through predictive churn analysis.
Headwinds in the form of growing
pressure of operating margins and
cost-to-serve is a major concern today.
Simplification of processes and the
advent of hyper-automation could
address this problem by enhancing
the business resilience along with the
launch of standardized self-service
capabilities. Addressing cross channel
retention and seamless information
exchange through intuitive,
self-guiding interfaces could not only
add value to operational efficiency but
will also enhance the experience and
brand stickiness for a customer.
All the aforementioned challenges
and counter measures culminates
towards designing new business
models. Realization of the benefits
highlighted above demands faster,
agile way of working that transcends
boundaries of geographies and
mindsets. A CSP will become a Digital
Service Provider (DSP) only if it is ready
to embrace risks and face challenges
in a business world where the walls of
competition are thinner than ever
before. A strong organization with a
strong urge to enhance its customer
experience and an iron will to
revolutionize the existing business
models is guaranteed to achieve
success and welcome the new
frontiers digital will lead them to – a
world of enchanting customer
experience and business outcomes.
Digital
transformation:
where to start?
The degree of successful digital
transformation relies heavily to an extent
on a ‘durable, well-envisioned, strategy
which outlines a transformational
roadmap to success for a CSP (Figure 2 –
Critical factors for successful digital
transformation). But strategy is a very
subjective term and differs from
operator to operator, geography to
geography. The strategy should
primarily withstand the ever-changing
demands from the customer. No
transformation is perfect without a
perfect start, and building a strategy
should ideally commence from
understanding the current landscape of
the CSP, cutting across its business, from
technology to process to organization. It
should encompass all facets of its
business based on the current level of
digital maturity.
4
Value creation
Capabilities
Opportunities
Vision to mission
Having an end-to-end assessment
of the current capabilities will not only
lead to identifying strengths and
weaknesses across portfolios but will
also contribute towards defining
standards and benchmarks which a CSP
would like to target to achieve. It also
paves the way for creating a strong
vision and mission statement which
is the stepping stone towards building
a successful digital strategy.
CSPs need to continuously evolve if they
have to be successful in addressing
digital disruption (Figure 3 ). They have
to undergo this evolution continuously
over a period of time
to ensure that they stay ‘connected’ and
‘cater’ to evolving customer aspirations.
Failure to do so may pull them back
to the old school and the entire value
chain might look historic to them
once again.
• What capabilities do you have today?
• Define your value chain
• Assess their alignment
• Analyze sustainability
• What is your competitive arena?
• Analyze market structure
• Identify market trends
• What does the customer
demand today?
• Define your scope and value
• What does success look like today
and tomorrow?
• Unlock your aspirations
• Know the expectations from you
Figure: 2 – Critical factors for successful digital transformation
5
The most relevant question for CSPs
is ‘Will I be able to understand
my customers in a way they want
to be understood’. An answer to this will
define digital for the CSP and will bring
forward avenues to explore, fail, learn
and evolve. In a fast-moving world,
it is quiet expected from a customer
to expect service on the move and
it is this challenge that brings
in a plethora of opportunities for a CSP
to unlock the value potential of digital.
Telecom operators need to bring in the
pinnacle of trust and confidence in their
customers by moving faster, acting
smarter and predicting the future.
Enable
Current state
assessment
Define strategy
Design & evaluate
Digital transformation
Figure: 3 – Digital transformation enablement model
About the
author
6
Swaminathan CN has more than 8 years of experience in providing business
consulting services to world’s leading organizations from multiple industries
like healthcare, utilities, airline, and retail, among others. Currently the
Principal Consultant – Communications at Wipro, he has specialized in
Business Strategy from the University of Virginia. He is a sports enthusiast
and loves to play badminton and cricket.
About Wipro
Wipro Ltd. (NYSE:WIT) is a leading information technology, consulting and
business process services company that delivers solutions to enable its
clients do business better. Wipro delivers winning business outcomes
through its deep industry experience and a 360 degree view of "Business
through Technology.” By combining digital strategy, customer centric
design, advanced analytics and product engineering approach, Wipro
helps its clients create successful and adaptive businesses. A company
recognized globally for its comprehensive portfolio of services, strong
commitment to sustainability and good corporate citizenship, Wipro has
a dedicated workforce of over 160,000, serving clients in 175+ cities across
6 continents. For more information, please visit wipro.com or write to us
on info@wipro.com
“No part of this booklet may be reproduced in any form by any electronic or mechanical means (including photocopying, recording and printing) without permission in writing from the publisher,
except for reading and browsing via the world wide web. Users are not permitted to mount this booklet on any network server.”
© Wipro LTD 2016 IND/BRD/SEP2016-NOV2017
DO BUSINESS BETTER CONSULTING | SYSTEM INTEGRATION | BUSINESS PROCESS SERVICES

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digital-transformation-journey-move-faster-act-smarter-predict-future

  • 1. wipro.com Digital Transformation Journey Move Faster, Act Smarter, Predict Future
  • 2. 1 t could be ‘a new way of working’ to manifest agility; it could be ‘a mindset’ to ensure permeation beyond traditional business models; it could be a ‘technology’ to cater to the ever-growing demands for scalability and simplification; more importantly, it could be ‘an experience’ – which takes customers through their journeys as users, providing control and choice, understanding needs and demands, enabling help on the fly, and scaling them to navigate across contexts and channels for an unified and intuitive experience. ‘Digital’, in modern business parlance, can be perceived or absorbed in multiple ways. Digital today is all about the experience customers will never forget - simple and agile, at the same time, engaging and enterprising - be it through customer - facing channels or simplification of back-end systems. It is evolving, and will continue to evolve without a finite direction as long as the needs and demands of mankind continue to dominate the business world. The ones who stand a chance in this digital race would be those who foresee the future demands of their customers and make the right effort to meet them. The opportunity a Communication Service Provider (CSP) has today to attract its customers is through simplification of its interactions and channels, products and services without passing over the burden of technology to them. Today, customers are not worried about the underlying complexities systems carry, but are more focused towards applications and services that provide them quick response, context, speed and lesser transactional cycles. While this may sound simplistic at the fore, the effort required to execute this transformation demands astute strategies and planning. While some do, not all digital transformation requires an overhaul of back-end systems. This makes the task of finding the ‘magic mix’ (Figure 1) to deliver optimal experience to their customers more strategic than technical. The ones who stand a chance in this digital race would be those who foresee the future demands of their customers and make the right effort to meet them.
  • 3. 2 Defining the customer journey today is a more challenging but inevitable need of a CSP. Customers can begin their journeys from any channel, at any place, at any time, for anything! They can context-switch back and forth from one channel to other, making it a complex non-linear engagement. Customers are unhappy with leading players across industries as they lack a unified, contextual, cross-channel information retention and experience. CSPs, in-order to sustain the needs and demands, have to address this rising challenge through omni-channel platforms and an orchestrated framework. There is a need to treat customers today as personas rather than identities since customers can have multiple personas within them for different needs, at different times, at different places. Having a persona-based customer experience will ensure CSPs to mature in their Digital future: the tough road ahead markets, where customers will appreciate the fact that their entire needs and wants are now taken care of proactively by their operator. Based on an estimate, by 2020, there will be an estimated 50 billion active connected devices, and this itself is a stellar testimony to the perception that world is moving towards a connected,personalized environment where the needs and demands a customer might have tomorrow needs to be predicted today itself. Along with the impulse fora transformation from an outside-in perspective, the instinct for survival is driven from within as well. The growing threat from over-the-top (OTT) players and other substitutes in the market which offer data and voice capabilities can lead to a potential ‘dis-intermediation’. This is compounded with a looming but imminent entry of the likes of GAFA to the market to provide communication services. This can potentially raise a threat to the very existence of Enhanced customer experience Operational excellence Hyper automation and efficiency New revenue streams for profitable growth Diverse products and digital services, ecosystems Simplified and reinvented business models, processes and systems Figure: 1 – Drivers for a digital transformation
  • 4. 3 contemporarycommunicationproviders, unless telcos move beyond boundaries to expand their business or rather expand within the contours to diversify their portfolios. Telcos not only need to beapartofanecosystembutalsohaveto start to own and lead one of its kind, thereby neutralizing the threats to an extent. The need for partnerships and ecosystems, henceforth unleashes another major opportunity telcos must focus on today – need for new revenue streams and expansion to adjacent verticals. They need to provide digital lifestyle services and solutions like mobile payment, connected healthcare, connected home etc. The launch of new products and services demands immense market perception. Exploring data monetization possibilities through advanced analytics provides immense control to CSPs over their customers. It positions them as ‘lifestyle providers’ by helping their customers with more hyper-personalized and localized services through ‘contextual interactivity’ and ‘content of relevance’. It also adds value by reducing churn through predictive churn analysis. Headwinds in the form of growing pressure of operating margins and cost-to-serve is a major concern today. Simplification of processes and the advent of hyper-automation could address this problem by enhancing the business resilience along with the launch of standardized self-service capabilities. Addressing cross channel retention and seamless information exchange through intuitive, self-guiding interfaces could not only add value to operational efficiency but will also enhance the experience and brand stickiness for a customer. All the aforementioned challenges and counter measures culminates towards designing new business models. Realization of the benefits highlighted above demands faster, agile way of working that transcends boundaries of geographies and mindsets. A CSP will become a Digital Service Provider (DSP) only if it is ready to embrace risks and face challenges in a business world where the walls of competition are thinner than ever before. A strong organization with a strong urge to enhance its customer experience and an iron will to revolutionize the existing business models is guaranteed to achieve success and welcome the new frontiers digital will lead them to – a world of enchanting customer experience and business outcomes. Digital transformation: where to start? The degree of successful digital transformation relies heavily to an extent on a ‘durable, well-envisioned, strategy which outlines a transformational roadmap to success for a CSP (Figure 2 – Critical factors for successful digital transformation). But strategy is a very subjective term and differs from operator to operator, geography to geography. The strategy should primarily withstand the ever-changing demands from the customer. No transformation is perfect without a perfect start, and building a strategy should ideally commence from understanding the current landscape of the CSP, cutting across its business, from technology to process to organization. It should encompass all facets of its business based on the current level of digital maturity.
  • 5. 4 Value creation Capabilities Opportunities Vision to mission Having an end-to-end assessment of the current capabilities will not only lead to identifying strengths and weaknesses across portfolios but will also contribute towards defining standards and benchmarks which a CSP would like to target to achieve. It also paves the way for creating a strong vision and mission statement which is the stepping stone towards building a successful digital strategy. CSPs need to continuously evolve if they have to be successful in addressing digital disruption (Figure 3 ). They have to undergo this evolution continuously over a period of time to ensure that they stay ‘connected’ and ‘cater’ to evolving customer aspirations. Failure to do so may pull them back to the old school and the entire value chain might look historic to them once again. • What capabilities do you have today? • Define your value chain • Assess their alignment • Analyze sustainability • What is your competitive arena? • Analyze market structure • Identify market trends • What does the customer demand today? • Define your scope and value • What does success look like today and tomorrow? • Unlock your aspirations • Know the expectations from you Figure: 2 – Critical factors for successful digital transformation
  • 6. 5 The most relevant question for CSPs is ‘Will I be able to understand my customers in a way they want to be understood’. An answer to this will define digital for the CSP and will bring forward avenues to explore, fail, learn and evolve. In a fast-moving world, it is quiet expected from a customer to expect service on the move and it is this challenge that brings in a plethora of opportunities for a CSP to unlock the value potential of digital. Telecom operators need to bring in the pinnacle of trust and confidence in their customers by moving faster, acting smarter and predicting the future. Enable Current state assessment Define strategy Design & evaluate Digital transformation Figure: 3 – Digital transformation enablement model
  • 7. About the author 6 Swaminathan CN has more than 8 years of experience in providing business consulting services to world’s leading organizations from multiple industries like healthcare, utilities, airline, and retail, among others. Currently the Principal Consultant – Communications at Wipro, he has specialized in Business Strategy from the University of Virginia. He is a sports enthusiast and loves to play badminton and cricket. About Wipro Wipro Ltd. (NYSE:WIT) is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of "Business through Technology.” By combining digital strategy, customer centric design, advanced analytics and product engineering approach, Wipro helps its clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, Wipro has a dedicated workforce of over 160,000, serving clients in 175+ cities across 6 continents. For more information, please visit wipro.com or write to us on info@wipro.com
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