By John Emmitt
The view from 60 State Street in Boston, where the BMC Day event was held.
I attended the BMC event in Boston this week and the theme was on Digital Enterprise Management. We’ve all been hearing a lot about digital transformation of businesses, but what does it really mean? A definition presented by Eveline Oehrlich, VP and Director of Research at Forrester, was:
Digital Transformation is the use of technology to radically improve the reach and performance of the business. This typically involves:
- Improved customer experience
- Enhanced operating processes
- New business models
Here are a couple of data points from one of the presentations:
- Hilton Hotels has about 730,000 rooms under management and has been in business for more than 75 years.
- Airbnb has more than 2 million listings in more than 34,000 cities worldwide. They have been in business for only seven years.
Hello bank is a 100% online bank that was created by BNP Paribas. There are no physical branches. As they say on their website, their approach to banking is: simple, smart, human and safe. You can see their commitment to the customer experience, which is one of the cornerstones of digitally transformed businesses.
According to Forrester, “a digital enterprise is an organization that uses technology as a competitive advantage in its internal and external operations.”
And Eveline’s chart showing how customer experience leaders outperform in the stock market is a real eye-opener:
BMC also presented data showing how digital businesses are more successful than their less digitally mature peers:
Eveline also presented a slide that showed the differences between a traditional Information Technology focused agenda and a new Business Technology focused agenda, the latter being geared toward digital transformation. Here is an excerpt:
Here are a few of the benefits of Digital Transformation:
- Increased speed
- Increased innovation
- Increased agility
- Increased customer value
Digital transformation—the impact on your business could be the difference between night and day!
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