Digital Transformation takes a special kind of talent. Speak to us about your requirements and secure the people you need to succeed. Executive - Interim - Subject Matter Experts
We live in an era of unprecedented technological innovation. And yet according to Forrester Research, only 12% of the Fortune 500 companies from 1955, remain Fortune 500 companies today.
Why is this?
Most likely because, as Forrester research discovered, only 27% of businesses have a coherent digital transformation strategy for creating customer value in place. Yet, many companies are placing digital transformation at the centre of their innovation strategies through 2020.
Over the last few years, digital transformation has become an industry mega-trend. Legacy enterprises are forced to embrace this critical shift out of fear of becoming obsolete.
Innovation and growth are no longer optional to the enterprise.
Today, enterprises use ICT technology to improve working efficiency, create business innovations, and provide better customer service. For many of these Fortune 500 companies, the challenge is to develop new business models that increase connection and engagement. What’s needed is a digital transformation platform that connects intelligence, data, and devices, enabling them to increase engagement with partners and develop applications that foster innovation.
Cloud computing, Internet of Things (IoT), artificial intelligence, and other new technologies are driving the human society into the smart era. The most striking feature of a smart society is the connection and fusion of the physical world and the digital world. The problems of the physical world are now being solved by the digital world.
As enterprises are constantly striving to attain new business value, the speed of innovation is crucial.
Companies need to be swift, agile and leverage all aspects of technological innovation. A truly digital enterprise uses emerging technologies as a strategic effort to go leaner, focus on agile business processes and enhance the business analytics of the enterprise. A digital enterprise relentlessly searches out, identifies and develops new digital business models, always ensuring that customers and employees are at the center of its digital innovation.
Digital Transformation Framework
Digital innovation has become an essential catalyst and a driving force of economic growth. It’s a journey, not a sprint. Designing a digital transformation framework for success is focused on innovation and attaining new business value, aimed at a creating an optimal user experience. To the point that the needs of the end-user need to be integrated into the service model. Consumers today, demand a faster, simpler, and enhanced digital experience that provides the best product and combines it with stellar service and most advanced technology.
The Digital Transformation Journey for Enterprises
Digital transformation is a massive undertaking, especially for larger, established companies. When done right, it will result in a business that is more aligned with customer demands and resilient in the fast-moving digital future. Embracing digital transformation at the enterprise level requires a strategic approach that factors in all of the goals, people, technologies and required integration to form a proper strategy.
Digital Transformation, Disrupt and Innovate
A core function of any business is to continually advance and improve its operations, products, and services. Enterprises that adhere to a digital transformation framework are not only focused on improving, they are the key drivers of digital innovation and disruption. Equipped with disruptive and innovative strategies, these companies can compete in today’s fast-paced market that is being driven by consumer demands, new technologies, and new business models.
Why Embark on a Digital Transformation?
Many legacy enterprises have built their business on certain methods of operation. It is these operating systems that have enabled the company to prosper and survive until today. The digital realities of today, however, are forcing these companies to reconsider and reimagine the fundamental systems that have been the keys to their success. The technological environment is changing, highlighting how ill-equipped these companies are to adapt and change.
Speed is essential in a Digital Transformation
While the speed of digital transformation may vary with industry, stagnation is the antithesis of the digital mindset. A company maintaining a static mindset in the digital era is paving their path to failure. With external pressures – customer demands, emerging technologies, lean startups and disruptive business models- pushing the business towards innovation, the classic methods of operation are no longer delivering the expected results. As the impetus for change increases the need to design a strategic path towards digital transformation becomes inevitable.
While many companies may opt to slowly tweak specific inefficiencies, a true digital transformation requires a revolutionary approach. An all-encompassing digital revolution can revitalize an enterprise and pave the road to future success.
A digital transformation framework will guide the leaders and direct the business towards a path of progress. Businesses need to be in a state of constant evolution. Building a momentum and a rhythm reflects a shift in the mindset. It is a sign of a new reality and creates a paradigm shift for the entire industry.
Breaking the Silos
Digital transformation with its customer-centric marketing and business processes requires the ability to work across business verticals and silos. In fact, digital transformation focuses on cross-vertical collaboration, restructuring the organization to create methods that break down the silos. In a digitally focused enterprise, the goal is to encourage cross-department interface and to create an environment that is fertile for consumer-focused innovation.
Case Study: Huawei – Strategic Digital Transformation Partner
Over the past six years, Huawei has quickly developed into a global leading digital transformation facilitators. The rapidly changing digital landscape has enabled Huawei to take advantage of the new realities by providing new ICT solutions to customers, creating best practices for digital transformation, public safety, finance, electricity, transportation, education, and media. Before enterprises choose an appropriate digital transformation strategy, IT and CT are now converging and transforming enterprises. There is no single technology alone capable to execute the digital transformation.
What is different about Huawei’s ecosystem?
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Digital Transformation takes a special kind of talent. Speak to us about specialist Talent Solutions and secure the people you need to succeed. Executive – Interim – Subject Matter Experts