We live in a world where digital is reinventing business dynamics. We constantly see Facebook, Amazon, Netflix and Google (FANG), digital-first organizations, making the headlines for their growth in the economy. It’s now time for traditional companies to follow suit or fade to irrelevance. How do they begin? Is there a process to be followed? Where do customer expectations and experiences come into the picture? An eminent panel comprising Vineet Malhotra, Managing Director, Blackrock Capital, Anupam Govil, Partner, Avasant and Christopher Nardecchia, CIO, Rockwell Automation, shared insights and experiences from their digital journeys that addressed some of these questions. Peter Bendor Samuel, Founder and CEO, Everest Group, moderated the session that highlighted that digital journeys can either be about transforming the company to deliver delight to their customers or using technology to transform the company.
Key Takeaways
Start with cultural change, technology will follow
Technology is a solvable problem but gaining universal acceptance, can be more challenging. Employees must understand that automation will contribute to efficiency, not take away their jobs.
Customer journeys should be at the heart of digital transformation
Most organization unwittingly prioritize technology over customer experiences. Thriving in the digital age is all about customer centricity and delivering exceptional experiences.
Transformation moves from top to bottom
Digital transformation, it is triggered by the budget which should include inputs from all the key stakeholders and must come from the top.
Silos of innovation, won’t result in transformation
It is critical to utilize a cross-functional team to drive your digital transformation because the changes across the CX, business model and operations model must be simultaneous.
A digital transformation roadmap without change management to address it will not gain the traction required.
