New problems are rarely fixed by applying Software Managers Email List old thinking. In the last decade a “perfect storm” of change has evolved that requires new thinking – thinking that takes advantage of the digital environment and transforms business as we know it.
Three central factors are at play. First, economic.
We have lived through the biggest economic crisis of modern times and it has forced business to fundamentally reevaluate the value they provide to their customers and how this links to shareholder value creation. Second, social. We have a rapidly expanding population that is putting a premium on unique experiences relative to mass produced goods. Third, technological. Technologies are evolving and maturing more rapidly across all industries than at any other time in history.
To respond to these external pressures,
meet their customer expectations and reduce costs many organisations are about to, or have started to, embark on a journey of digital transformation. Many of the clients we work with, from government organisations to private companies, are realising the potential gains digital transformation can bring to their organisation — and the potential threats if they do nothing.
Working with companies and business leaders who are focused on digital transformation we have identified four key challenges the need to be addressed to drive business transformation through digital means. I outline them below.
1 – Understanding the Customer
Companies like Amazon, Uber, Airbnb and Google have changed the expectations of the market forever. The average consumer now expects brands to be able to understand their unique wants and needs and create a tailored experience to suit. Most business leaders understand this principle but often find themselves caught in a discussion about technology.
Customer focused digital transformation essentially involves understanding customers and where their expectations are heading — rather than a conversation about technology. If a business doesn’t bring this lens to a digital transformation programme and develop a strong internal narrative about the customer, then projects will inevitably become internally focused.