In this winner take all world, are you a leader or a follower, and will following be good enough?
The world now understands what digital technology can do for businesses, and the pandemic showed how quickly this was applied. Some companies are now adopting lessons and operating models, learned through the pandemic experience.
Leading companies are leveraging digital technology to secure their current position and move themselves into better positions in the market. Unfortunately, there are still many companies sitting on the fence as they do not really grasp the opportunity.
Let’s take a step back.
Video conferencing has become a permanent tool for companies as they were forced to use it during lockdown periods, and it was surprisingly successful for them. Now everyone understands the value video conferencing and with it, the value of remote working. Whilst not everyone can work from home long term, there is a good portion of the workforce that can. Apart from the personal saving of money from working at home, businesses have realised that expensive office space and expensive business trips can be reduced.
But Video conferencing is only the beginning, it does not mean you are a digitally transformed company. There is a lot of digital technologies that can improve your business, it is knowing what is right for you.
Many “followers” are waiting for everything to get to the “New Normal”. The language of a 'new normal' is being deployed almost as a way to quell any uncertainty ushered in by the coronavirus. With no cure in sight, everyone from politicians and the media to friends and family has perpetuated this rhetoric as they imagine settling into life under this 'new normal' – World Economic Forum.
If you are sitting waiting for the “New Normal”, you need to be careful that 1), it exists and 2), you can recognise it and 3), it does not pass you by while you are waiting.
Are your competitors preparing for the future?
“Even before the global health crisis hit, 92 percent of company leaders surveyed by McKinsey thought that their business model would not remain viable at the rates of digitization at that time.”- McKinsey.
Present and Future.
What is becoming very clear is that the world and business will continue to change, but it will change more rapidly. This will happen through either global events, or the winner takes all business mindset, or through the continued evolution of technology, or customer demand.
Consider the following: - The constraints of legacy IT and the lack of collaboration across organizational silos combine to make it increasingly difficult for organizations to be nimble and responsive to changes in their environment – KPMG.
Now is not the time to wait, it is time to plan and execute but do it quickly.
Companies adopting digital technology operate faster, they are more flexible and can change course rapidly as the markets demand, and they use data to monitor and to make decisions.
Leading companies have realised what digital technology can do for their business and they actively leveraging digital technology?
They have the winner take all mindset, do you?
Current technologies such as low-code, data science, and analytics tools, AI, IoT can make significant differences in operating their business. 5G on the horizon, more technologies will be become viable and give further advantages.
The following are some examples of what can be achieved in very short periods of time.
We can develop mobile/web applications ready to deploy in 10 days, and we can build on these applications to realise additional business benefits for our customers.
We recently worked with a Thai company to digitise a set of manual labour-intensive processes into a digitally operated and automated process with full data integrity. This enabled them to deploy these resources to more valuable roles.
We use our Speedathon Process (because Hackathons are to slow) in which collaboration with business users and technicians to ideate, build an MVP application, and create a pitch in less than 3 hours. The business users are always super impressed and want more.
To show our commitment to ensuring customers' success, we do a proof of value exercises, again with collaboration between the business users and our technicians to achieve proof statements of just how fast and effective business problems can be solved.
We work with world-class technology partners such as OutSystems who is the #1 low-code platform - GARTNER.
We understand businesses and technology and we know what technology to use the technology to solve business problems and challenges, then change business processes and bring new business capability. We do this at Digital Speed, 10 days.
Our focus industries are Healthcare, the broader Financial Services, Utilities, and Supply Chain and Logistics
Who are we?
We are DB Results (Thailand), and We are #Speedtoinnovation.
Contact us now and do it now as time is running out!