CIOs should raise companies to their full digital potential
Customers embrace digital features in their daily life, to work, shop, book flights and holidays, socialise and connect, etc. All generations now actively use smartphones, tablets and apps. Wearable devices are emerging to allow users to interact and stay permanently online.
Digital technologies have moved the goalposts considerably. The question for businesses is no longer whether or not to go digital. It is how business and IT should be transformed to support the digital migration. To what extent, and how quickly, should processes and channels be digitised so as not to adversely affect market shares.
Digitisation should not just be seen as an additional customer interaction channel enabled by IT technologies, but also as an essential feature of modern business. Indeed, to offer the best customer experience and benefit the most from digital technologies, leaders must pursue a full digital transformation. They should not only flick the digital switch to increase revenues by acquiring and retaining clients attracted by new digital offerings, but also reduce their cost base line through automation and digitisation of core processes.
As the digital disruption fundamentally changes market dynamics, the speed and effort required to maintain a competitive edge call for a review of operating models and IT infrastructure. Only leaders achieving digital transformation will be in a position to innovate and turn digital spending into sustainable competitive advantages. This is true whatever the industry or sector.
Inside magazine issue 6, October 2014
Inside is Deloitte’s quarterly magazine offering an exclusive insight into best practices, trends and opportunities faced by our clients across all industries.
Inside focuses on the main hot topics relevant for the market (Asset management, Banking, Insurance, Public sector, Healthcare, Private equity, Real estate, TMT, Manufacturing and consumer business, Transport and logistics).