Digital is the central imperative in creating any modern ecosystem. Companies across the world are using digital for enhancing their survival and growth in the resilient times. But “What does Digital really mean?”
Digital has diverse interpretations and meanings—for some leaders digital is adoption of new systems, processes and technology adoption; for some digital means leveraging technology to automate business processes; for some others digital essentially means enhancing customer experience journeys. Many executives believe digital means completely new way of doing business.
All interpretations are correct but are very contextual. We believe it makes sense to establish a holistic understanding of what Digital means in true sense. Business leaders must have clear, common and consistent understanding of Digital before taking up any Digital Transformation initiatives in order to harness its true potential. Diverse and conflicting understanding of Digital leads to piecemeal initiatives, heterogeneous efforts leading to inconsistent business goals attainment.
Value in New Frontiers
Adoption of Digital approaches to capture emerging business opportunities and trends in the market quickly is one of the key drivers in building new businesses with agility. In the resilient times, digital imperatives provide an adaptive value stream of offering new customer experiences. Organizations wanting to obtain diversified value offerings unlocking new business avenues in their existing marketplaces or wanting to foray into new marketplaces leverage digital tools to jumpstart quickly.
Value in Core Business
Companies transform their existing core business by leveraging digital and analytics tools for proactive real-time decision making process. Leveraging Data for predictive analytics enabling prudent business decisions is possible only by mining the existing data, unlocking the patterns it highlights thereby enabling empirical decisions.
Technology changes fast but generally organizations take time to embrace such changes. Turning around existing business by leveraging emerging technical possibilities to enhance customer experience journeys is the core reason for digital adoption worldwide. Enhancing the customer’s contextual interaction for elevated customer experiences is often the key objective of leveraging digital. Research and Innovation focused on ‘how to enhance customer journey, which leaves a WOW experience with reduced turnaround time’ is a very closely related imperative for digital adoption in customer experience context. Many digital initiatives around the customer touchpoints are often driven by these real-time digital automation goals.
Foundational Capabilities
At the core of any organization are its Culture and Mindset. We very strongly believe that Culture is the Most Important and Foundational aspect of any Digital adoption program. We believe that Digital Transformation journey for any organization starts with a change in its Culture. Embracing Digital is secondary, embracing Digital Systems Thinking mindset is where it all must start. Being digital is about having a mindset of business architecture keeping Digital Systems Thinking of leveraging Data as its lifeline. Using data for faster decision making by small teams, having this process iterative and replicable in all the small teams thereby propagating this iterative repeatable process of leveraging data is what makes an organization digital. This Digital Systems Thinking should not be limited to few small teams or a select few functions. It should be the Culture of how an organization generally operates in unison with its employees, partners, stakeholders and customers. This Digital Culture and Mindset essentially institutionalizes cross-function and cross-company collaboration, flattening the hierarchies encouraging the culture of ideation with quick and resilient adoption.
Digital is the central imperative in creating any modern ecosystem. Companies across the world are using digital for enhancing their survival and growth in the resilient times. But “What does Digital really mean?”
Digital has diverse interpretations and meanings—for some leaders digital is adoption of new systems, processes and technology adoption; for some digital means leveraging technology to automate business processes; for some others digital essentially means enhancing customer experience journeys. Many executives believe digital means completely new way of doing business.
All interpretations are correct but are very contextual. We believe it makes sense to establish a holistic understanding of what Digital means in true sense. Business leaders must have clear, common and consistent understanding of Digital before taking up any Digital Transformation initiatives in order to harness its true potential. Diverse and conflicting understanding of Digital leads to piecemeal initiatives, heterogeneous efforts leading to inconsistent business goals attainment.
To us Digital has three key dimensions impacting any organization:
Value in New Frontiers
Adoption of Digital approaches to capture emerging business opportunities and trends in the market quickly is one of the key drivers in building new businesses with agility. In the resilient times, digital imperatives provide an adaptive value stream of offering new customer experiences. Organizations wanting to obtain diversified value offerings unlocking new business avenues in their existing marketplaces or wanting to foray into new marketplaces leverage digital tools to jumpstart quickly.
Value in Core Business
Companies transform their existing core business by leveraging digital and analytics tools for proactive real-time decision making process. Leveraging Data for predictive analytics enabling prudent business decisions is possible only by mining the existing data, unlocking the patterns it highlights thereby enabling empirical decisions.
Technology changes fast but generally organizations take time to embrace such changes. Turning around existing business by leveraging emerging technical possibilities to enhance customer experience journeys is the core reason for digital adoption worldwide. Enhancing the customer’s contextual interaction for elevated customer experiences is often the key objective of leveraging digital. Research and Innovation focused on ‘how to enhance customer journey, which leaves a WOW experience with reduced turnaround time’ is a very closely related imperative for digital adoption in customer experience context. Many digital initiatives around the customer touchpoints are often driven by these real-time digital automation goals.
Foundational Capabilities
At the core of any organization are its Culture and Mindset. We very strongly believe that Culture is the Most Important and Foundational aspect of any Digital adoption program. We believe that Digital Transformation journey for any organization starts with a change in its Culture. Embracing Digital is secondary, embracing Digital Systems Thinking mindset is where it all must start. Being digital is about having a mindset of business architecture keeping Digital Systems Thinking of leveraging Data as its lifeline. Using data for faster decision making by small teams, having this process iterative and replicable in all the small teams thereby propagating this iterative repeatable process of leveraging data is what makes an organization digital. This Digital Systems Thinking should not be limited to few small teams or a select few functions. It should be the Culture of how an organization generally operates in unison with its employees, partners, stakeholders and customers. This Digital Culture and Mindset essentially institutionalizes cross-function and cross-company collaboration, flattening the hierarchies encouraging the culture of ideation with quick and resilient adoption.
What is a Digital Culture?
We believe Digital Culture is a system of shared values and practices that produce high-performance service innovation in an agile connected digital world.
Several leaders believe that they already have an IT department hence they are a Digital organization! This is wrong. Digital organizations embrace change constantly reinventing the way they operate in all the functions including IT. Hence, being digital in the IT context means continuously reinventing, modernizing legacy systems which support critical functions running at slower pace as well as faster moving customer facing systems leveraging modern connected devices, networks and applications. This approach is embodied in a continuous-delivery model where cross-functional IT teams automate both backend and customer facing systems and optimize processes to be able to release and iterate on software quickly.
Digital means hacking growth NOW! Interpretations of Digital may vary from company to company but having a shared vision towards Digital in executive minds leads to unlocking the growth potential.
Leveraging the Digital technologies and predictive analytics to unlock the new sources of economic value from platform business model is one such application in this context in which we specialize in.
Our Digital Innovation practice connects the Strategic Thinking with the Tech practicalities so that you can create your business ecosystem peacefully. Our clients gain the technical tools, people and processes for translating the platform thinking into a thriving marketplace without putting a strain on your existing business. Weather you want to build an aggregator, a horizontal or vertical marketplace, a hyper-local ecosystem or a multi-sided platform or community you require to get into the deep waters of tech to unlock the true potential of the ecosystem. We help our clients in assembling the overall tech stack from strategy to execution including partner selection and skill building.
Reach out to get the digital strategy aligned with your business objectives.
What is a Digital Culture?
We believe Digital Culture is a system of shared values and practices that produce high-performance service innovation in an agile connected digital world.
Several leaders believe that they already have an IT department hence they are a Digital organization! This is wrong. Digital organizations embrace change constantly reinventing the way they operate in all the functions including IT. Hence, being digital in the IT context means continuously reinventing, modernizing legacy systems which support critical functions running at slower pace as well as faster moving customer facing systems leveraging modern connected devices, networks and applications. This approach is embodied in a continuous-delivery model where cross-functional IT teams automate both backend and customer facing systems and optimize processes to be able to release and iterate on software quickly.
Digital means hacking growth NOW! Interpretations of Digital may vary from company to company but having a shared vision towards Digital in executive minds leads to unlocking the growth potential.