APRIL 20209Digital transformationrequires fundamental architecturalchange of the businessand organizationsponsive to constantly changing market condition and customer ex-pectation.Key Aspects of this Digital Strategy are:· Value propositions of Product or ServicesCombination of SMACIT along with biometric & cognitive computing and other latest technology ad-vancements are actually transform-ing the fundamentals of our ability to provide products and services to our customer. In fact, it is chang-ing the way we define our products and services.· Level and Depth of Customer EngagementCustomer engagement is the rela-tionship with our customer. It must be built on trust, loyalty and passion. It is about how well we are taking care of our customers while pro-viding the products or services. The level of information and depth of knowledge we have about our cus-tomer with respect to their needs and necessities indicates our en-gagement level. Enterprises must leverage this information to create innovative value propositions. · Enabler EcosystemEnabler ecosystem has two core as-pects to support the execution of strategies. Digital service Backbone is the digital capabilities, engineer-ing assets and ecosystem to support delivery with speed and quality. The second aspect, Operational Back-bone is the operational aspects of the organization. Startup does not have this and larger organization cannot change the existing engine so easily. So, How Do We Start this Journey?Everyone has reached to the tipping point. Importance has been felt. Ev-ery organization must transform. It's a survival need. So, how do we start? Does an organization need to disrupt its existing ways of business and op-eration? Not necessarily, however, in this journey, eventually existing business and its ecosystem will get disrupted and take a new form. New product or service portfolio, new engagement model and some new ways of doing things will emerge and that will become the new norm.Well, any transformation journey requires cultural change of the or-ganization. Especially, digital trans-formation requires fundamental ar-chitectural change of the business and organization. But of course, we cannot stop the existing business to transform ourselves to make us more competitive and relevant ­ i.e. digital ready. We must start small and move fast, and progress towards making the organization ready. Speed is the essence here. As different disrup-tive innovations are entering to the market every now and then, existing organizations must move faster be-fore new entrants disrupt the mar-ket. Instead of waiting for someone to take the lead, initiate the jour-ney. Pivot the decision based on market response.Six Key Steps to Start the Journey and Continue Successfully in this are - 1. Strategic Alignment & Planning· Establish a grand vision of your transformed Organization· Define your digital strategy · Alignment and direct involvement of top Leadership (CXO Level)2. Get the right Talent· Get the right leadership on the ground· Get the right engineers and /or groom existing one to make them digital workforce3. Set your Approach right· Establish a culture of continuous learning with Reward and Risk· Fearless culture of innovation with Reward· Highly collaborative team· Global mindset· Fail safe environment· Empower employees· Product based innovation· Decentralized decision making· Data Driven execution and management4. Build Digital Capabilities ­ Though it takes time, start building capabilities· Continuously build business aligned digital capabilities· Integration of advancement of technology with business capabilities5. Flawless & Fearless Execution· Execute | Execute | Execute ­ Remember, Speed is the essence· Optimize and/or calibrate operational engine 6. Set the Governance Mechanism· Measure | Decision | Pivot
< Page 8 | Page 10 >