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Fast forward to 2020 and the digital economy is flourishing. How customers, suppliers, products and services are sought, influenced and constructed, has changed. Anything that can be digitized, is being digitized. However, simply digitizing existing products and services isn’t enough. It violates Porter’s and Rumelt’s philosophies.
A digital transformation strategy is a plan of action to reposition a business in the digital economy. Data allows us to find new opportunities much more easily. Building a business that can leverage emerging technology and ride new opportunities with speed skill and determination, often requires a transformed way of working.
Today ‘digital’ is the talk of a town. We hear about digital technologies, digital data, digital media, digital transformation, digital marketing. Everyone wants to go digital. But which way to go? And what is digital transformation and why having a digital transformation strategy is important?
Three Reasons Why Digital Transformation is Important
Digital technology has transformed the landscape of client engagement, commerce, marketing and more, in such a way that impacts every area of your business. Every company is now a technology company! This means managing your transition to a digitally driven business model isn’t just critical to beating competitors, it’s crucial to corporate survival. The top three reasons digital transformation is so important are:
Acceleration of Change – The pace of digital change is rising exponentially, making it very difficult to maintain a position of industry leadership, and requiring an acceleration of new digital solutions brought to market.
Digital Competition – Companies are under ever increasing pressure to compete digitally, and long established business models are being disrupted by “born digital” start-ups.
Customer Expectations – Customers expect a good experience across all touch points, you must ensure their interactions are seamless and exceptional.
At Sirius, we believe companies that embrace digital capabilities at the core of their corporate DNA and culture will not just survive, but thrive in the new economy. This is just the tip of the iceberg when it comes to digital transformation. Check out our Digital Transformation Overview to learn more and contact us to get started on your journey.
We know now that mobile is the future of everything. With the rise of the Internet of Things and mobile devices our lives and habits have clearly changed. Everything is now connected and if it’s not, it’s about to. We live in a world where you can connect your coffee machine to the Internet and make your coffee via Bluetooth. If your coffee machine can go online and you’re still only thinking about it, what does it say about you!
Go ‘digital’ or go home!
Digital transformation is often viewed as an implementation of digital technologies into all areas of business in order to build more sustainable relationships and better understand the needs of customers.
But this is just one of the ways to look at it. When talking about digital, we can think of discovering new frontiers and using innovation and technologies to push your business. It’s about finding new possibilities of an existing service in order to design and deliver a better experience for your customer. Some might argue it’s a new way of interacting with customers. None of these definitions is truer that the other but what we can all agree on is that today.
Here are the top 8 trends shaping digital transformation in 2021
• The digital-ready culture– Organizations are under greater pressure to digitize services quickly at scale to meet rising customer demands and create new revenue channels.
Consumers want consistent engagement with brands across their preferred channels. Seventy-three percent of shoppers use more than one channel during their shopping journey. Eighty-six percent of consumers say they want the ability to move between channels when talking to a brand. Ninty-two percent of customers are satisfied using live chat services — making it the support channel that leads to the highest customer satisfaction. And 78% of consumers use mobile devices to connect with brands for customer service — the number jumps to 90% of Millennials. Organizations need to invest in new digital methods of customer service.
• Democratization of innovation– Line of business users is trying to develop digital customer experiences faster. IT needs to drive cultural change by empowering the business to self-serve and deliver solutions quicker.
Enterprises will look to low code development tools to improve productivity. These trends are incredibly important for IT and CIOs — enabling and increasing technology savviness across lines-of-business is a key priority. Citizen integrator tools will reach mainstream adoption in the next 2 to 5 years.
• Composable enterprise– Hyper-specialization has created a groundswell of applications, leading organizations to shift to a composable enterprise to become more agile — where digital capabilities can be composed of existing applications using APIs, rather than being built from scratch every time.
Enterprises face application proliferation. There are around 8,000 apps in the marketing technology landscape alone. Fifty-two percent of organizations say that IT has generated the most business value by building reusable integration assets that save time and money on future projects.
• Automation– Organizations are using automation to drive operational efficiency and improve business processes. APIs are key to driving automation and scaling productivity.
Automation is top of mind to enable innovation. Per Salesforce, 81% of IT organizations will automate more tasks to allow team members to focus on innovation over the next 12 months to 18 months. McKinsey notes 57% of organizations say they are at least piloting automation of processes in one or more business units or functions. MuleSoft research found 30% of IT decision-makers say that automation is a key business initiative tied to digital transformation.
• API security- The average enterprise has 900 applications. The proliferation of new endpoints creates new avenues for intrusion, requiring robust API security.
Eighty-four percent of customers are more loyal to companies that have strong security controls. Security is also a top enterprise technology investment. API abuses will be the most-frequent attack vector for enterprise web applications data breaches.
• Microservices– Organizations are turning to microservices to rapidly build new customer experiences. Companies deploying microservices to production will require some form of service mesh capabilities to scale.
Microservices expose data and functionality as a collection of loosely coupled services. With microservices, organizations can quickly adapt to changing customer requests and demands, as well as offer services that create a competitive edge.” Ninety-one percent of organizations are using or plan to use microservices.
• The data divide– To keep pace with evolving customer expectations, organizations are looking for faster ways to unlock data and gain insights. 2021 will be the year that data separates organizations from their competitors and customers — the ability to unlock, analyze, and act on data will become foundational to growth. Businesses aren’t living up to customer expectations of seamless and personalized experiences.
• Data analytics- Organizations are investing in data analytics to transform customer experiences. The value of data analytics will be dependent on the data they are fed.
A well-developed and designed enterprise data analytics effort enables us to deliver a superior customer experience. An important 2020 lesson is that every business must be a digital business. And in the next normal, every business must be able to create value at the speed of need. The future of business will be automated and autonomous. The future of the enterprise is an autonomous enterprise. There are numerous customer case studies in the Salesforce MuleSoft Connectivity benchmark report and the 2021 digital transformation trends report.
References:
https://perfectial.com/blog/digital-transformation-strategy/
https://perfectial.com/services/digital-transformation/
https://www.zdnet.com/article/top-8-trends-shaping-digital-transformation-in-2021/
Sumeet is endowed with 23 years of global experience reflecting strong leadership qualities coupled with enormous experience & exposure in IT projects’ planning, execution, management, delivery and production support (onsite, offsite and offshore); across e-Business, Client/Server, Custom Application Development, Enterprise Resource Planning (ERP), Enterprise Content Management, Internet based applications, Business Intelligence, Integration packages and Databases. Eminent leadership expertise with exemplary record in driving management methodologies and disciplines spanning estimation, contracting, project planning, risk management, progress tracking & analysis, report and other related factors Well versed in project management methodologies of Agile, Scrum, Waterfall and delivery technicalities of Onsite, Offsite and Offshore model with expertise in translating complex business opportunities into creative, effective and efficient IT solutions, analyzing the client business needs and requirements: translating new ideas into clients’ solutions including opportunity identification, requirements development, delivery, production support & analysis and documentation.
Jayanti, a proactive founder brings more than 21 years of rich industry experience with an insight to provide innovative solutions. A leader and a team player who aims to help an organization achieve its objective through new and innovative ideas. Her spectrum of work varies from IT Education Delivery, Instructional Design and Delivery, content management and development. She understands the need for building collaborative and trusted relationships with the clients. Jayanti exudes remarkable calm, confidence to withstand the challenges in setting the tone for the company’s values, ethics, and culture.
Nidhi has 15 yrs. of experience in Business Research, Talent Acquisition, Client Relationship management, Database Search Tools and Leadership Hiring. She has worked with internal teams and hiring managers in UK, Continental Europe and US geography to assist with recruitment efforts. She has also worked on custom projects in different sectors and industries, involving – company profiling, business overview, business segments, key financial, executive team, board member composition, competitors and other key developments.
She has been instrumental in preparing presentations on the key developments in the business world like Digital Transformation, UK Talent Trends, Digital Age Disruption. She has been involved in working on newsletters pertaining to candidate moves, company mergers & acquisitions and layoffs in US, UK, CE, APAC.
Priyali has around 8 yrs. of product and digital media experience, along with background in Product Marketing.
She has helped publishers in transforming their digital media business and reinvent their digital monetization model with data driven decision making and an effective web and mobile optimization strategy to increase revenue, website traffic, user engagement, and gain competitive advantage.
Through her specialties like Product marketing, lead generation, digital media consulting, web optimization, user engagement, content monetization, product optimization, customer success she has delivered products that are user friendly and provided a unique and consistent value to the customers.
She has worked closely with cross-functional teams, including Product Management, Sales, Marketing, Research, Web development and Design along with customers, to ensure the successful roll-out of new products and new versions of existing products.
Nitin Gupta, Business Development Manager at IvaluePlus has more than 21 years of experience in all aspects of business development, previously working in the F&B domain and has now transitioned his focus to IT/ITES domain.
His key areas encompass increasing the top line of the company by identifying and developing new business areas & opportunities. He is instrumental in leading cross-functional teams, manage existing partnerships, and evaluate company business goals
A proactive, advising, strategic and result-oriented account manager who maintains a strong link between the team & the clientele – stakeholders. She understands client’s requirement & plans out ways to achieve the required business objective. She is a people’s person and keeps thy team going in sync & flow. She dives deep to understand the business severity & aims at deliverables. She has experience in intercultural sensitivity, workforce planning & employment, language skills, Lisha has been instrumental in building company’s human capital capability through keystone involvement and systemic value addition.
Spending almost a decade into Arts & Entertainment industry and now stepping into Human Resources, right from Hiring to Training to Generalist HR, it has been quite a journey for her but it’s all about getting everything together. The motto is to learn, evolve & grow.
Sujeet is an Ambitious and self-motivated with 7+ years of professional experience In Finance. He has done his B.COM & M.COM from Kumaun university Nainital.
He has been instrumental in Financial accounting /Direct and Indirect taxes/ Payroll and Compliance Management specializing in the IT/ITES sector. He posses excellent research and financial analysis capabilities.
Highly capable, versatile and accomplished IT professional who is confident to make the right decisions as per the situation.
His experience encompasses good knowledge of Cisco, Aruba, D-Link, Sophos, TP-Link devices, Setting up of IT infrastructure from scratch to a secure fort, extensive IT management experience, planning and implementing computer systems and networks.
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