Digital or Demise: The Clock is Ticking
How to Embrace and Implement Digital Transformation Successfully
The COVID-19 pandemic made companies realize their digital capabilities were insufficient. Hoping to return to a pre-pandemic lifestyle is no longer a valid strategy. Employees and customers expect high levels of digitization now. Yet, 84% of digital transformation projects fail at the adoption phase. It doesn't need to be this way. Opentrends and Frost & Sullivan hosted a live dialog ‘’Digital or Demise’’ to respond to some of the most frequently asked questions in the digital transformation journey and shine a light on this topic.
Industry diverse folks joined veterans Xavi Buscallà, Opentrends Inc CEO; Anselm Bolsacoma, Opentrends Inc Chief Strategy Officer; Aroop Zutshi, Managing Partner at Frost & Sullivan and Jorge Titinger, former CEO at Silicon Graphics and current Board Member at high-tech companies, as they shared digital strategies, innovation models and best practices that have worked well in a multitude of complex organizations.
Companies don’t become digital companies by simply having digital tools. They need to be data-driven. If you’re at the stage of digital tools to improve efficiency you’re way behind - That’s what we did 20 years ago! Today is very much about engagement. Digital tools are adopted well when they are engaging, the gained efficiency is in itself highly valuable. More valuable can be the resulting generated data, which can produce very powerful actionable insights capable of transforming existing products and services into multiple new revenue streams.
‘’If your customers go to your competitors because their software is more user-friendly and they have better products than you, your revenues will dwindle. Once a customer is gone, it’s hard to get it back.’’ Xavi Buscallà, CEO Opentrends Inc
Data is key
‘’If you don’t have data on how your products are used you can’t improve them. Your customer may be a distributor, a wholesaler or a dealer… but if you don’t know the end-user of your products, then your product strategy is entirely dependent on these third parties.’’ Anselm Bossacoma, CSO Opentrends Inc
Customer and Employee Experience
‘’Customer and employee experience now play a vital role in how companies both attract and retain customers and employees. The focus should go toward engagement and value-delivery.’’ Aroop Zutshi, Managing Partner Frost & Sullivan
Key enabling Technologies
‘’Technologies that have contributed to this massive improvement of connectivity have been big data analytics and the cloud, making data available to anybody anywhere all the time. This is precious.’’ Jorge Titinger, former CEO Silicon Graphics
In this new era of expansive Digital Engagement, highly user-centric digital design is the start, data transformation is the key. Robust digital strategies that are unique so they work within a particular company’s environment are a scarce reality.
Learn about past cases that have worked well in complex organizations and may help take your Digital Transformation plans to a whole new level.