I've started to analyze the challenges faced by organizations wanting to deliver strategies driving Digital Transformation. Even though I am still digesting that vast amount of content provided by itSMF in a recent seminar on the same topic, it is clear to me that it is vital that we must be capable of designing solutions that align with the latest business models adopted by modern-day companies.
The economic and social context. The digital revolution and the Knowledge - based society
Which organizations need to transform?
Successful companies in the knowledge-based society were startups in the not too distant past, none of them existed 40 years ago. These new enterprises mean business, and they are out to compete with the older, more robust ones. It's the older organizations, under threat from new competitors, which need to transform.
How do we transform?
We need to start by understanding the new type of customer out there. If we can understand their preferences and habits, then perhaps we could use this information to drive transformation.
What are the characteristics of this new type of customer?
First, we need to be aware that the customer is already 'digitilized'. It's also important to understand that their workforce contains what have come to be known as 'Millennials.'
Some characteristics include:
- 100% digital
- Multiscreen, multichannel
- Critical and demanding
Today more than 50% of our customers demonstrate these characteristics. This trend will increase to 75% by 2025.
Enterprises that fail to address Digital Transformation face the stark reality that there is a possibility that they may not survive.
To avoid falling into extinction, where can we acquire Digital Transformation?
- Transformation should take place in phases completed over time.
- The evolution should always include periods of analysis with regular pauses to take measurements.
- There is a high impact on company culture and organizational change.
- Management and organizational change processes adopted by enterprises require flexible business models.
- Organizations must be able to meet customer's needs rapidly.
- A new organizational model with a new generation of internal services is required.
- Entities need to focus on innovation (using all the new technologies -disruptech-).
- A sense of total customer orientation is required, that aims to make life easier, where products are integrated and adapted to the modern form of consumption and living.
What value does SilverStorm provide when driving Digital Transformation?