Understanding Digital Transformation
CQL Grand Rapids
3344 Grand Ridge Drive NE
Grand Rapids, MI 49525
CQL Ann Arbor
8186 Jackson Rd
Ann Arbor, MI 48103
HQ: 3344 Grand Ridge Drive NE Grand Rapids, MI 49525 | 616 365 1000
CQL Grand Rapids
3344 Grand Ridge Drive NE
Grand Rapids, MI 49525
CQL Ann Arbor
8186 Jackson Rd
Ann Arbor, MI 48103
HQ: 3344 Grand Ridge Drive NE Grand Rapids, MI 49525 | 616 365 1000
We are experiencing the fourth industrial revolution since the steam engine in the mid-1700s – digitalization. Digitalization is the integration of technology across all aspects of society and it is happening in three distinct waves.
Wave 1: The digital consumer who enjoys more interactive and personalized experiences thanks to SMAC (social, mobile, analytics and cloud) technologies.
Wave 2: The digital enterprise that leverages SMAC technologies to optimize the cost of corporate functions and to transform enterprise collaboration for greater productivity.
Wave 3: Emerging digital operations where companies are truly revolutionizing business with the use of Artificial Intelligence (AI), robotics, cognitive computing and the Internet of Things (IoT).
Digital Transformation is the necessary change companies must make to avoid being disrupted by this revolution. It requires the integration of technology across every aspect of the business.
Technology is not only changing the way we communicate, it’s changing the way we do business. The Internet of Things, Artificial Intelligence and predictive analytics are impacting the way consumers and business leaders make decisions. Companies are going to experience massive disruption to all areas of their business as a result of these rapid technological advancements, forcing them to either adapt or become obsolete.
“Since 2000, over 50% of Fortune 500 companies have been acquired, merged, or declared bankruptcy.”
– Thomas Siebel, Chairman and CEO of C3 IoT
Thriving companies embrace Digital Transformation. They work with technology, not against it, to transform all areas of their business. They embrace rapid experimentation that allows them to innovate faster. They are intent on disrupting the competition before they become disrupted. However, not all companies that understand Digital Transformation are able to implement it successfully.
“70% of companies will attempt to transform themselves digitally, but only 30% will succeed.”
– John Chambers, Cisco Systems
Unlike previous technological innovations, this digital revolution changes every aspect of your business – research and development, manufacturing, customer service. Therefore, change needs to be driven by the CEO.
“Global corporate transformations are initiated and propelled by the CEO. Visionary CEOs, individually, are the engines of massive change.”
– Thomas Siebel, Chairman and CEO of C3 IoT
Our approach to implementing Digital Transformation is focused on four areas of the business: Decision Making, Connectivity, Innovation and Automation. The technology applications across each area of the business should be talking to each other and sharing data in a unified way that allows you to make informed business decisions. You will see the most success when you invest in a 1, 3 and 5-year Digital Transformation roadmap instead of independently experimenting with individual platforms.
Decision Making: Big data and advanced analytics improve real-time management information and provide insights that inform smart business decisions.
Connectivity: Customer Relationship Management (CRM), Content Management Systems (CMS), Enterprise Resource Planning (ERP) software, and predictive analytics create seamless, multi-channel experiences that improve connectivity with customers, colleagues, and suppliers.
Innovation: Creating new digital products and service propositions to disrupt the competition.
Automation: Machine learning insights improve customer targeting using automatic provisioning, virtual servicing and embedded automated controls for risk profiling.
Digital disruption is inevitable. The question is how are you going to get in front of it. Unfortunately, there is no off-the-shelf solution to Digital Transformation – it will look different for every industry and every company. Our experienced team can help you lead the charge and affect change within your organization by partnering with you every step of the way.
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