Hyper-transformation: Customers move at different speeds. Are you keeping up?

How will we pivot and keep up?

By 2020, Australia’s digital economy will outstrip agriculture and retail to become Australia’s fastest growing sector (Deloitte). In a nation with crops to feed 60 million, the implied challenge is: how serious are we about delivering digital change? And what are the steps to lift our game?

Today’s corporate information environment is multi-speed; a combination of digital services, legacy technologies, and on-premise, proprietary platforms. Most companies have field, central administration and office-based staff relying on a mix of applications (customer service, task allocation, and finance) to efficiently complete inter-related work.

If you’re thinking of career path, multi-speed means expanded choice.

Once considered complex but now the norm, enterprise integration demands collaboration between vendors, business partners, operations people, and CIO staff. What can you do to meet the digital challenge?

Simplify the business processes to increase customer appeal and engagement

In our haste to take advantage of economies through digital transactions, it’s easy to overlook which new services create greatest value. Will the interaction engage curiosity and interest for optimal benefit for all parties? Design thinking must empathise with the customer, asking ‘Will the next new product or service represent a buy or sell proposition?’ And will this service fulfil a stated need of which the customer is conscious, or one not yet defined?

Replace Total Cost of Ownership (TCO) with the transparency of Return on Implementation

As a text-book template to analyse upgrade costs, TCO has little or no vision on which information outputs are of value to clients, and requires additional design, optimisation and delivery effort. Data volumes have potential to unlock much deeper awareness of customers, even for small enterprises, provided your implementation skills ask the right questions aligned to customer and business expectations.

De-tune risk from the investment paradigm

In a multi-factor environment, the investment challenge is that every participant holds a different view of risk. Getting a clear view of priorities is skewed to a discussion on ‘least risk’ spending which, unfortunately, repeats earlier sub-optimal legacy decisions and limits capacity to create the future.

New skill – improve the processes of greatest value to customers & know when to improve

Deciding which technology to modernise involves “picking winners”. So often we’re spoiled for choice. It’s not surprising we overvalue the things we can measure and undervalue the things we cannot.

From a customer viewpoint, value is defined by what is delivered rather than what is spent. The meta-disciplines of Benefits Realisation Management and Commercial Negotiation now bring into sharp focus the outcome in terms of appeal to and retention of Customers.

Hyper-transformation or mass customer engagement, is the single greatest factor driving multi-speed business. To enhance customer benefit, we need to pivot each option for technology change. Isn’t it time we stop making stuff to sell to people and instead create what our customers want and expect.

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