Traditional Enterprises whose business models, business processes, business operations, etc are built many years back, fail to meet the needs of the hyper connected world. It is estimated that 40-50% of the traditional enterprises will sunset in the next 5 years, leading traditional enterprises needs to transform themselves to Digital Enterprises. This transformation requires positive disruptions in the business model, business value chain, business operating Model and business metrics. The existing Applications/ IT Infrastructure are built only to support traditional enterprises. Hence, Digital Enterprise transformation also requires a positive disruption IT strategy, IT architecture, IT Infrastructure and IT Application portfolio of an organisation.
This will happen only when these enterprises leverage the power of COVERGENCE of technologies like Networks, Mobility, Analytics, Cloud, Security, Social Computing and Sensors. These technologies dramatically impact the business processes and hence the business operations.
In the next 3 – 5 years almost every key industry would become digital and we will see the emergence of Digital Telcos, Digital Retail, Digital Manufacturing, Digital Automotive, Digital Healthcare, Digital Energy, Digital Logistics, Digital Banks, Digital CPG etc.
Tech Mahindra has defined six characteristics of a Digital Enterprise in order to be future-proof and future-ready.
Description for each new characteristic :
1. Mobile, Cloud & BYOD - Anytime, Anywhere & with Any device
Today, customers, employees and partners expect to complete transactions NOW. Customers are connected to gadgets almost 24X7. Digital Enterprises provide context based real-time information, context based real time intelligence with employees, partners and customers (using mobile).
2. Big Data & Analytics - Collective Intelligence + Predictability across Supply Chain
Enterprises must be able to predict their businesses at various points of their business value chain. The key is to see the future of business and take right decisions at the right time.
3. Internet of Things – Digitally Intelligent Products/Machines/Services/Solutions
Enterprises must be able to develop digitally intelligent products (eg: Cars, ATM machines, jet engines, medical devises etc.) to enable monitoring predictive maintenance and provide superior customer experience. Enterprises must be able to establish digitally intelligent machines for high productivity, operational excellence, real-time remote monitoring and predictive maintenance. Enterprises must be able to build digitally intelligent things which can proactively send the alerts for necessary actions.
4. Social Media – Aligning with Gen Y Culture
Enterprises must establish the policies, procedures, practices and systems to deal with Gen Y Employees, Gen Y Customers and Gen Y Partners.
5. Social Media -Real-time Customer Engagement and Superior Experience
Enterprises must be able to understand the behaviour, mood and sensitivity of customers in real time and provide superior experience by engaging them in real time.
6. Network, Security - IT in everything calls for better networks & security.