Syed Ahmed Mohiuddin, CEO, MD and chief architect, BITS Consultancy Services, will be presenting at the ITWeb Industry Tech Update 2017 event at The Focus Rooms, Sunninghill, on 18 October 2017.
Industries are being severely disrupted by technology and its far-reaching effects are being felt in every organisation. It is imperative that industries understand how the evolution of digital economies and transformation is significantly affecting their business practices if they wish to remain competitive and relevant.
ITWeb: Could you tell us how the evolution of digital economies and transformation has significantly affected all industries across the globe?
Mohiuddin: We are living in an age of digital revolution, where technology-driven change, new innovation, and increased adoption of digital disruption are happening every day.
The evaluation of digital economies and transformation is a game changer. It forces the organisation to re-strategise how to communicate with their employees, clients, vendors and partners; reposition the business; change various internal functions; redefine how functions interact as well as evolving the boundaries of the organisation. In so doing they can better manage their operation and their customers' expectations. It also makes products, services and prices easier to compare, and opens up the market to a new breed of data-rich entrants and start-ups.
The advent of new digital technologies has resulted in new innovations - social media platforms, the proliferation of mobile devices, and availability of cloud native services has impacted all industries across the globe. This is forcing many businesses to operate differently and to think and prepare themselves for digital change.
Industries that digitally transform successfully, not only create a new organisation, but also reposition the organisation to take advantage of valuable existing strategic assets in new ways; connect more closely with customers, employees and partners and accelerate the pace of innovation. The result: they claim a greater share of profit.
ITWeb: What opportunities do you think the evolution of digital economies and transformation present?
Mohiuddin: Some of the key opportunities include: the creation of new digital business models; enhanced customer engagement; improved customer experience by meeting the changing customer demands; improved productivity and operational efficiency; new revenue sources and the opportunity to compete successfully against digital natives and out-performing peers.
ITWeb: What considerations does one need to take when adopting a clearly defined digital strategy and blueprint?
Mohiuddin: One needs to consider the following key points when adopting a digital strategy and blueprint:
- An enterprise-wide approach to digital transformation needs to be adopted.
- Understand how social media changes the way people work and adjust accordingly as business brings greater gains.
- Think about how modern technologies can change the workplace for the better.
- Completely map the customer journey.
- Carefully assess how customers interact with the organisation and take steps to refine and optimise internal operations around those experiences.
- Carefully consider the strategy communication and people change management aspects.
ITWeb: What key points would you like to leave the delegates with from your presentation in October?
Mohiuddin: I would like to leave the delegates with an understanding of the reasons why digital transformation projects fail and how to avoid them.
Secondly, I want to illustrate the importance of enterprise-wide commitment, support and buy-in to digital vision and strategy.
Thirdly, I wish to provide a definition of comprehensive digital strategy and the right adoption approach that will drive the successful digital transformation.
Lastly, I want to demonstrate how investing in skills, digital technology and partnerships that will increase the speed of digital transformation.
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