Rewiring your Business for the Digital Landscape of 2021 and Beyond
COVID-19 has set global organizations in a race against uncertainties. Business slow-down has forced leaders to reconsider technology initiatives. Would a post-pandemic world look different for your digitally-driven business?
Accelerating digital transformation initiatives will help survive the pandemic economy. It is the key to maximize business value, differentiating yourselves, and staying relevant. A heady mix of automation, analytics & employee-centric initiatives leads to data monetization.
Digital services rewiring and Business Intelligence help interact with dynamic customer data. This can be applied to multiple business contexts. It is the driving force for reinvention, key business workflow automation, and new experiences. This enhancement empowers businesses to meet changing customer and employee expectations.
How to ensure that your business is engaging in the right digital change initiatives?
Should we use it for just business process reinvention?
Can it streamline existing workflows?
Businesses need to create the right digital transformation strategy to answer these questions.
Path to Digital Transformation: Being Change-Aware and Ready
The pandemic has put us at the crossroads of agility and adaptation through digitization. Additionally, re-skilling employees and improving customer experience have become a top priority. Your digital charter should harness powerful and intelligent workflows. The pivot to automation will result in reduced human efforts and operating expenses.
Tech transformation allows digital-ready leadership to experiment while preventing fragmented customer experiences.
Navigate digital transformation confidently with technologies and trends like:
· Cloud-Native Containers and Microservices such as Kubernetes and Apache have anchored full-stack implementations.
· Data Science — Python, Java Scripting, ML Models, and NLP support intelligent data management.
· Data Analytics — Hadoop, Spark, NoSQL, Mongo DB, Informatica, and Search Indexes
· Software-as-a-Service Platforms such as ServiceNow, Salesforce, and Snowflake, etc.
· Cyber Security — SIEM, Firewall IDS/IPS, and Digital Forensics.
Innovative brands are offering hyper-personalized services through product relevance. This is possible with gen-next technologies like AI & ML for customer behavior analysis. Real-time data exchange through API-driven software makes business conversions easy.
Hybrid platforms provide out-of-the-box capabilities with multiple investment avenues. These include integration, plugins, workflow automation, and low-code engine.
Digital transformation is a multi-track race with many technologies sprinting towards the finish line. The key is to carefully select a reliable partner for optimal and resilient business outcomes.
Track 1 — Migrate
Cloud-based platforms help achieve ‘Digital Nirvana’. Cloud integration, application engineering, and migration services are game-changers today. A simple “lift and shift” can offload application workloads today. Companies have achieved faster time-to-market at desirable costs.
Merge home-grown solutions with platforms like AWS and MS Azure to leverage their innate customer trust.
Track 2 — Modernize
Application Modernization in finance, retail, and healthcare is driving business innovation. This calls for application refactoring and rebuilding on new platforms. A diverse mix of AI, RPA, and Big Data fuel new enterprise architectures. Also, data analytics creates an insightful IT environment for cognitive decision-making. It transforms large data silos, logs, emails, and transactions into lucrative offerings.
Track 3 — Mobility
Being mobile-first is key for agility and relevance in the new technology landscape. It transforms standalone channels into critical business enablers. For instance, seamless mobile experiences are being delivered via geofencing.
Ecosystems like Amazon Alexa offer instant access to content and services. These include data-rich conversational interfaces that are lightweight and customized. ML and RPA harness real-time interactions on mobility solutions. With mobile engagement automation, touchpoints become holistic customer journeys.
Beyond the Chequered Flag — Achieving Digital Ubiquity through Transformation
Digital Transformation will be multi-dimensional and multi-directional in 2021 and beyond.
You’ll need to prepare yourself by considering the following:
· Assess your environment
· Decide on the best tools and approaches for your business
· Plan the execution with the right skill sets
· Measure progress with metrics and KPIs
· Ensure out-of-the-box integration
· Create and maintain a superior support system
· Build Custom Applications where necessary
· Break silos with a forward-thinking team culture and workflow management (DevOps)
· Innovate with AI, ML, Data Analytics and BI for shock absorption and business continuity
Are you ready to roll out a strategy like this on your own or would need a technology partner to manifest it? Let me know your thoughts in the comments.
About the Author:
Saumil Shah, the CIO at Rishabh Software, is a technocrat with a successful track record of helping clients solve complex business problems. Under his strategic presidency, Rishabh has established a prominent market presence across multiple domains like Healthcare, Retail, Manufacturing, FinTech & more. He is an alumnus of IIT-Kanpur & London Business School and has been on the advisory panel of industry-leading bodies like NASCOM and GESIA. When he’s not busy solving business technology challenges, he enjoys playing tennis or football.