Digital Transformation Explained.
Digital Transformation is to reimagine your organisational processes, culture and strategy as if today’s technology existed before the organisation did.
According to a 2017 IDC study, 40% of European IT Projects will create new digital services and revenue streams that capitalise on existing data. Many non-IT based industries are beginning to unlock these new huge revenue streams from innovative digital services, often these new services are entirely different to the established business model and can transform a company’s fortunes.
Bain Experience estimated in a report that approximately 50% of executive investment is now focused on using IT to build new business capabilities, the 50% who are failing to invest in innovation will quickly be outmatched in the services they offer customers, and quickly lose market share.
Classic examples of innovative digital organisations are born in the cloud, and were able to create a business strategy around today’s technology, companies such as Uber, Netflix, Airbnb and others have quickly disrupted and dominated their respective fields due to technology being at the core of their business, not an addition to existing processes. Companies with a longer history need to adopt the same agile, innovative approach to remain competitive with the “born digital” players.
Common blockers to innovation
risual Advisory and Management Services can help with any of the following
Bad habits such as sweating assets and too much focus on monetary ROIs
Interpretation of strategy:
Business strategy misinterpreted as marketing strategy
Historical thinking and C-Level led Programmes refuse to accept the changing landscape
Poor ratios of legacy to digital skills forming major skills gaps
Adoption of change:
User resistance due to varying factors such as isolated engagements and poor benefit marketing
of businesses say that AI will be put to wider use within their organisation
From Efficiency to Innovation.
By focusing solely on productivity and efficiency gains within current processes and services, IT will eventually hit a point of saturation where there is little benefit left to leverage. Only by actively innovating and looking to transform with technology can an organisation change, grow and continue to leverage benefit from both IT and non-IT related sources.
Most organisations move in “transformational cycles”, usually sweating assets and finally embarking on Capital Expenditure driven “transformational” Programmes every four or five years. The problem is, these aren’t really transformational but a project to upgrade or make existing processes and infrastructure more efficient.
Advisory and Management Services
risual Advisory and Management Services build a long term digital strategy for your organisation. Our advisory consultants work with your organisation at all levels, allowing us to impartially build a picture of your processes and requirements and then deliver a vision of how technology can revolutionise how your business operates.
We embed digital into the corporate strategy, through our investigation and ideation offerings, we can transform every part of an organisation, not just in how they use IT, but how they do their jobs, the services and products the organisation offers and who and how these are consumed. Through our wide and diverse range of specialist consultants at risual, our advisory and delivery teams can strategise, develop and build solutions to unlock new ways of working and the digital potential of an organisation. risual offer a comprehensive range of technology skills, including: award winning Microsoft competencies, third party expertise, a dedicated application development team and an in-house managed services team.
of executive investment is to build new business capabilities through IT