The term Digital Transformation is growing in popularity after the Government’s new found technology and innovation agenda, but few seem to be able to grasp just how dramatic change will be. The ANZ managing director at software company Progress, Craig Law, looks at how fast digital technology disrupted media industries in the past decade, business have only one option: adapt or die.
It’s easy for an organisation to overlook the need for change, but the trend is clear. Silicon Valley based Constellation Research Analyst Ray Wang stated that digital disruption will replace four of the top 10 incumbents in industries, including financial services, hospitality and travel.
“We are no longer an economy of products and services. The digital transformation demands that we focus our attention on experiences and outcomes. Business leaders and their organisations must shift to keeping promises—no matter how their customers interact with them,” said Wang.
To show how inescapable digital transformation is, let’s look at a more traditional sector like manufacturing. Industry 4.0 or the fourth industrial revolution is a term used to describe how technology has totally disrupted the status-quo. Smart manufacturing, such as factory automation and environmental surveillance has replaced traditional processes.
This new industrial paradigm includes smarter robots, additive manufacturing, the Internet of Things and a host of other technological wonders. According to a Gartner Report, organisations adopting IoT will grow 50 per cent in 2016, reaching 43 per cent of organisations overall. Gartner estimates that slightly more than half (56 per cent) of businesses in asset-intensive “heavy” industries will have implemented IoT by the end of 2016, and approximately one-third (36 per cent) of “light” or “weightless” will do so.
But what good is all this industrial wonder if the customer experience is lacking? The role of information technology is vital to fully reaping the benefits of the new digital age.
Consider the transactional aspects surrounding a product. You need to make sure that inventory, supply-chain management/ERP and delivery/distribution/tracking systems are integrated and real-time to create an optimal customer experience—or all those production advancements could merely result in excess inventory. Furthermore, it doesn’t matter if the customer is on a website or a mobile app, the experience needs to be connected and holistic to drive revenue and profit.
We’re at the tipping point; businesses must embrace change and accept that it will be constant in the new digital age. The Internet of Things, Cloud infrastructure, IaaS, PaaS and SaaS—represent some of challenges developers must keep abreast of. But these challenges also represent an opportunity for tech to drive business goals, and not the other way around.
Businesses that grasp this and embrace change will be the ones that survive. Resisting these changes will leave executives, managers, and their companies powerless. Organisations must pivot ahead of these social, organisational, and technological shifts or risk being left behind.
What’s in it for you?
So how can you digitally transform your business? First, clean up your digital shop front window – leverage technology to truly personalise web experiences across whatever screen is being used.
For IT, it means modernising existing applications and directing the course new business applications will take. Mobility and compelling web experiences for users across all channels must be centre stage.
Digital Transformation includes the change of an entire organisation to become more agile, delivering exciting customer experiences. Customer facing apps and websites are just the beginning of that journey.
Lastly and most importantly, businesses preparing for digital transformation must understand that change is constant. Digital Transformation requires strong leadership to drive change, but it also requires a vision for what parts of the company you want to transform. Those that thrive will be the ones who embrace and are prepare to transform their company into an agile mobile operation that adapts to their customer’s ever-changing needs.
Social Indigenous Enterprise We Are Warriors (WAW), supported by creative innovation studio R/GA Australia, has been selected to produce the City of Sydney’s New Year’s Eve Calling Country live performance as part of the 9pm firework show. Lead image L-R: WAW co-founders Ben Miles & Nooky. The performance will feature a special Welcome to Country […]
With just over 24 hours to go until the world premiere of Addy Lala and the Mood Tea Thieves, limited tickets are still available for the pantomime, which will run for one night only at the Everest Theatre in Sydney’s Seymour Centre on December 5th. All in the industry are encouraged to come along to […]
2045, a Melbourne-based creative agency founded by Tim Evans and Nick Auditore has just launched. The agency takes its name from the year futurist Ray Kurzweil predicted organic and artificial intelligence would converge. Lead Image: 2045 Team Evans was formerly a Partner and Executive Strategy Director at DT (now AKQA), before co-founding B.B.E in 2015. […]
The National Breast Cancer Foundation has been announced as the Charity Partner for Sydney New Year’s Eve. The Australian not-for-profit organisation is represented by the pink ribbon and raises money to fund world-class research towards its vision of zero deaths from breast cancer. Research that saves lives through a better understanding of how to prevent […]
This holiday season, Emporium Melbourne has announced its festive creative campaign that celebrates and encourages the Melbourne community to embrace their personal ‘untraditional traditions’ – the unique traditions that make Christmas truly special for them, and their family. The campaign’s tagline, “Every tradition starts somewhere”, reflects Emporium’s commitment to embracing, inspiring and applauding diverse traditions […]
Reddit has announced updates to its new ads placement with Carousel Ads and Product Ads. These new units, placed in the heart of Reddit discussions, provide an even more dynamic and compelling way for advertisers to scale to relevant audiences, deliver deeper value to users, and drive stronger, full-funnel performance among the hundreds of thousands […]
Automotive Network Drive has announced its 2024 upfronts, its biggest in more than a decade, with a suite of more than 12 new products that underpin its vision to be the number one automotive network in Australia. Now in its 27th year and with a monthly audience of 2.45 million, Drive is leveraging its reputation […]