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Taking digital transformation to the next level

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Article Synopsis :

Everyone accepts the rules have changed and that technologies from artificial intelligence to the internet of things are changing how organisations conduct business. So says Capgemini’s Digital Transformation review (12th edition).

 The Digital Insurer reviews Capgemini’s Report on Taking Digital Transformation to the Next Level

Insurers need digital champions to drive forward digital projects

While the technology exists, making use of it is proving to be the difficult part. Finding the right mix of talent, employee engagement, culture and the people at the top to implement it successfully is difficult.

The study found that it is essential for every organisation to have digital champions. In addition, it is essential that businesses look to their employees to find them.

Employees want to be engaged and have a role in the business strategy, and it is the job of the business to motivate, engage, and excite their employees, offering training where necessary – and it will be necessary – and the opportunity to interact with others to develop innovative ideas through smart platforms. So, treating employees like customers will actually improve your own customers’ experience.

The role of culture is also important. People want to work in stimulating businesses that have flatter hierarchies. Management must engage more deeply with digital technologies if their organisations are not to be left behind.

Governance is key but must take account of local needs. One size may fit all, but where it doesn’t adjustments must be made.

Certain groups, for instance, millennials, place great importance upon sustainability and social issues and expect these beliefs to be reflected in the brands they chose to support.

The report also summarises research conducted with more than 1,300 executives around the world into how companies are struggling with to turn digital investments into business successes.

Many of the reasons are highlighted through the interviews with guest contributors, business leaders from organisations as diverse as GE and IKEA, Daimler and State Bank of India.

The practical experience of these individuals offers the reader a better understanding of how different organisations around the world are tackling digital transformation.

Link to Full Article:: click here

Digital Insurer's Comments

This report offers an interesting insight into how important culture is on the success of the digital transformation.

One size fits all is always appealing, but even the finest suits that Savile Row has to offer will be unsuitable in certain markets.

McLuhan’s mantra of “Think Global, Act Local” is extremely relevant to the digital transformation project underway in this industry.

Link to Source:: click here

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