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Digital Transformation for Technology Services

Sep 9th 2014 at 6:32 AM

Digital technologies have disrupted the old world order in the market. The churning that constant innovation is bringing about in social media, mobile, enterprise applications, the cloud and big data has completely transformed the way businessis done today.

The changes brought about are apparent to all, be it for booking an airline ticket, undertaking a bank transfer, searching for a person or a service in your neighborhood; with each passing day, more and more services are going digital.

Across geographies and industries, digital transformation is releasing a wave of IT led innovation;where it is creating new revenue streams at the same time, it is alsoopening up myriad cost saving opportunities for large as well as small enterprises.

For Internet companies that are born digital, it is a natural process and transformation is essential for business longevity.

Risk taking is built into digital transformation innovations

Early pioneers of digital technologies have demonstrated the disruptive potential that technological services can unleash from the way a company communicates with its customers, to how it markets or sells and to wholly new business models driven by sheer information technology innovations.

However, to push the digital transformation agenda forward,there is a need for not justa compelling and credible vision but also a deep understanding of the implementation, evaluation and iteration needed to be taken to achieve it.

Dumping the old for new technology involves a leap of faith. Many companies fail to do that.They get caught up in the downside that new developments come laden with and worry often about the chance of failure, rather than the potential to transform a business completely.

A risk appetite for digital transformation is essential if one has to survive an ever growing competition and keep pace with the “new times” where innovation is one of the key competences for not just industry leaders but startup companies as well.

To get ahead and maintain a steady pace, willingness to take calculated risks is particularly a must have in a digital environment. Taking a bet on emerging opportunities involves a willingness to risk failure that not all innovations (disruptive and sustainable) will result in quick (or any) profits.

Many IT leaders prefer to go with tried, tested and proven technologies. Tight budgetary pressures often are a reason for killing many innovative technologies.

Laying the right infrastructure for growth

To implement new ideas and business initiatives when taking a lead in digital transformation, you need to ensure that a conducive foundational architecture, be it for mobile, cloud, data, applications or others, is in place.

Getting control of your data

Emphasis on application and infrastructure delivery has been there for decades, it is only in recent years that data is taking centre stage. A shift into the cloud is reducing the emphasis on applicationmanagement in-house, and has brought data, security and agility into sharper focus.

Taking a multidisciplinary approach for new projects

Where digital technologies have the potential to change the underlying operating model and business processes of a company, a multi-disciplinary approach is more likely to succeed than a singular one.

As a wave of new digital ideas emerges, one would have to ensure that a lot of different internal functions and third partyinterconnections can be shifted and plugged in with ease.

For a non IT intensive business, spending on IT is for operational excellence and cost efficiency but for an IT intensive firm, the approach would have to be different for the focus is going to be on revenue generation.

The sequence and pace of change needs to be planned

When shifting gears from today’s systems to tomorrow’s digital technologies it may appear easy to see and sense the available opportunity, but they need to be balanced against their associated risks.

Sequencing the pace of change may make sense when deciding to move from in-houseemail servers to the cloud but moving the company’s core financial systems there would require a more considered decision.

Consider questions like, how best to respond to a digital transformation shift, how to take advantage of the opportunity to innovate, differentiate and grow and how best to do all this cost efficiently, when leveraging and optimizing the newest information technologies as part of transformation undertaken.

Emerging markets could leapfrog on digital transformation

Digital transformation has thrown up exciting opportunities for emerging markets, which can leapfrog past their peers. The smartphone market in the emerging markets demonstrates the changes coming about at the infrastructure level, itself. Smartphone Internet connections have rapidly overtaken fixed line ones and some emerging markets like Kenya are in fact turning out to be pioneers. Bypassing traditional banking systems, Kenya is a leading country in developing a wholly mobile based money system.

For more details please visit - financial technology services

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