The latest cycle of business transformation is going to be led by digital. CIOs have a great opportunity to leverage digital to create an environment that supports their organization’s goals today, anticipates future needs and allows the enterprise to focus on business transformation.
There is compelling research that confirms the impact digital is having on enterprises. According to a recent study on digital transformation performed by IDG:
- In order for digital transformation to be successful it has to take a business-first approach.
- Digital transformation not only introduces new, exciting ways to interact with customers but also creates new business models, delivers operational efficiency and instills superior employee engagement.
- The workforce is now mobile, and needs the right engagement models to succeed.
Organizations must embrace a customer-centric approach in every aspect of business by interacting with customers on their terms across all channels. The days of disconnected channels and service-on-demand are over. Demand for both is now constant. Not surprisingly, according to Gartner, customer experience technology is currently one of the foremost marketing technology investments for corporations.
Customers no longer live by an enterprise’s rules of engagement. They have their own rules, and their expectations morph as they leverage digital technologies more easily in their daily lives. The ubiquitous use of sensors to measure how far and fast we run, our heart rate, weight, and other personal measurements is a great example. Organizations must use analytics, mobile, social and cloud combined with sensor data to provide customers with a solid experience at every interaction.
The workforce landscape has been turned on its head in recent years, with technology as a great equalizer between employer and employee. In an environment where 25% of employees claim that technology influences whether they stay at a job, an empowered workforce is a must. This means putting them on the front lines with the technology and information they need (and vice versa) to help build the company.
Employers must embrace the new model of working anywhere, anyway and collaboratively to attract and retain the best talent from a crowded field whose members are happy to ‘work without having a job.’ Moreover, empowering employees means getting them the right data, insights and applications at their fingertips so that they can make smart, fast decisions, and then relay that same just-in-time data back from the field to the organization in a loop that becomes a significant competitive advantage over the competition.
Digital Adoption is a Must
Digital transformation makes possible the advancements discussed above. Analytics, mobile, social, cloud and sensor technologies need to be leveraged in order to cultivate meaningful relationships with customers and the workforce. Digital adoption is a must – customers and employees have too much leverage over the enterprise: zero transaction costs of switching to another brand; and almost no costs – transactional, reputational, or otherwise – associated with switching jobs or not having one. This is the CIOs’ new landscape, one in which digital transformation will be their most powerful tool.