Three steps to prepare an enterprise for digital revolution

Business innovation through digitization and the reimagining of business processes driven by data has become a necessity for every organization across a variety of industries. Consumers have led the business in this charge, leaving businesses with no choice but to respond or perish. Business models and processes, which had previously worked for decades in many companies are now under assault. Not surprisingly, this massive consumer empowerment has coincided with the democratization of digital technologies like mobile, social media, cloud computing, and big-data to name a few. These technologies empower consumers to not only influence product and service design, but also empower communities to collaborate and influence decision making in real time. Bill McDermott, CEO of SAP famously commented that every business is now a C2B (Consumer to Business) industry.

So, how can businesses respond? Is there a respite to this constant onslaught of change? Businesses always seek comfort in a structured and systematic approach to respond to events. This change however, has left every business in every industry scrambling to gauge and understand:

  1. The nature of this change (its impact on viability of their current business model, consumer buying behavior, profitability etc.?)
  2. The velocity of change (how soon do we have to respond?)

 

This article was originally published on infoTECHSpotlight, July 01, 2015 and is re-posted here by permission. Click here to access the complete article.

Madhavan Krishnan

Senior Director - Head of Cloud Computing Practice & Leader - Millennial Solutions Group, Virtusa. Madhavan is an experienced technology practitioner with a strong business orientation. He has more than 17 years of Global IT industry experience in multiple technology and business roles. In his current role, he is the head of Cloud computing practice in Virtusa with responsibility for competency development, client solutions, practice team development from Asia and P&L. Madhavan is an active contributor to the company’s millennial solutions strategy and an active exponent of impact of convergence effect of multiple technology trends at the intersection of Cloud, Mobility and Big Data. Madhavan’s experience cuts across different dimensions of the IT Services business including Global Delivery, Enterprise Architecture, incubating and scaling technology practices with P & L responsibility; presales and business development. Madhavan’s strength is in driving adoption of technology led business solutions for clients in both Global and emerging markets. He helped kick start and scaled several technology practices for a large IT Services provider from ground up including RFID /M2M and Mobility practice, Manufacturing and Retail Domain Solutions group and launching / running Cloud business. Madhavan is an active participant in various industry and client forums like CII, MAIT, RFID World Asia and was a member of RFID Integration Consortium in 2005. He has authored and published several technology and business papers over the years.

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