Peter Veash gives a wake-up call to big businesses and explains why more UK companies need to break down the barriers to change, and place digital transformation at the heart of their company strategy in order to compete on the global stage.
In his article 2017 – the year of digital transformation, written for ITProPortal, he talks about the tricky and much disputed question of what digital transformation really means, and the benefits it will bring. "I don’t just mean technology advancements… it’s about bringing together the power of technology with a culture that embraces change and the positive impact it can have on any organisation. These benefits will be business defining. Organisations will be able to identify more efficiencies, find savings at scale, add rocket fuel to research and development, discover new markets and hone the customer experience."
Peter believes that organisations should begin the process of digital transformation by focusing on the area with the most immediate payback. This will vary according to the company in question, though there are common themes. "A census-wide poll of 200 business-to-business senior digital, IT, technology and marketing managers, carried out in September 2016, reveals that customer experience, operations, innovation and marketing are the areas identified as having the greatest potential to deliver an early payback for any organisation following a period of digital transformation."
He also talks about the importance of speed. "The faster an organisation can go from idea to implementation, the more it can embrace opportunities to transform and even disrupt markets and internal business models. If a company has an adaptive culture, where new technology can be seamlessly integrated quickly and efficiently, that organisation has more chance of success than a company which takes forever to change."
He ends with a warning not to rely on government initiatives and also points out what the landscape might look like for any business that doesn’t have digital transformation on its agenda this year. "If digital transformation isn’t on your agenda for 2017, you need to seriously weigh up what your sector will look like when your business has been left behind".
See Peter talking about the impact of digital transformation on BBC World News.
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