The digital imperative: why business transformation is essential

‘Businesses can stick with legacy systems and older, slower ways of doing things, but their competition might not’

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Two themes will shape the next five to ten years for businesses: digital transformation and new work styles. Becoming a digital enterprise means embracing the new ways people want to work and putting the customer at the centre of your business. And companies and individuals alike will need to adapt to succeed in a digital economy.

Every role in today’s business – CEO, CFO, COO, CIO etc. – is enhanced through more modern technology. The leaders at the helm of businesses that succeed over the next ten years will be those who are inspired by what digital transformation can do and start that journey today.

The Uber effect

We’re entering an age of disruption that extends beyond the technology industry. Companies like Uber, Airbnb and Netflix have created new business models that simply sidestepped the status quo.

Powered by cloud and mobile, these companies have shown how quickly digital disruption reshapes once slow-moving markets.

Uber is upending the taxi industry without owning any cars. Airbnb now has more beds than the largest hospitality company, and almost 17 million people staying at an Airbnb this past summer. Netflix owns no conventional TV channels, yet provides 10 billion hours of streamed entertainment around the world every month.

>See also: 3 steps to futureproofing a business with digital transformation

Not just for startups

Right now, companies across all industries are reinventing themselves through the strategic use of technology. Transformation is a frequent topic of discussion at the boardroom table.

Businesses that don’t give their customers the best digital experiences will find them elsewhere. It’s no good having a mobile-first website if your back-office systems are stuck in the past.

Transformation starts inside

The new trends driving demand and changing behaviour outside your business are doing the same inside. New work styles have emerged, and supporting them is crucial.

Today’s professionals expect to work from any device, anywhere they go. People who need to collaborate often span many organisations, posing all sorts of challenges for sharing and security.

Enabling collaboration and mobility means moving to next-generation platforms built to support these new ways of working. Businesses can stick with legacy systems and older, slower ways of doing things, but their competition might not.

 

Sourced from Rob Norman, Box

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