Insights

What are your digital imperatives? Is moving to a platform business model one of them? You may ask what it could mean for you. Well here’s the answer – It is a series of technological solutions that provide outcomes in terms of business innovation and efficiency, as well as customer experience that is truly transformational. This means that a total digital transformation would help businesses cater to changing demands of the customer.

The world is going digital. That is not news anymore, but the pace at which technology is transforming all walks of business is something that cannot be ignored. A clear digital transformation roadmap will determine who wins the digital divide. We are at the cusp of what the World Economic forum calls The 4th Industrial revolution. The physical and the digital worlds are converging, giving birth to platforms that are scaling new digital players to greater heights.

Choosing the right Digital Transformation Partner

The field of digital transformation is an extremely crowded one. You have probably read about business strategy and digital transformation roadmaps from more experts than you care to remember. Is there a quick and easy way to match business strategy to the right digital transformation partner?

Yes there is. But before we do that, it is important to understand what businesses really want.

They want to:

Traditional retail has been affected by the rise of digital stores. To remain relevant and competitive, retailers need to find a balance between thinking like digitally native companies and delivering a differentiated in-store experience for a true retail digital transformation. Retailers must adopt a ‘customer first’ strategy along with a digital transformation framework that creates a highly targeted and personalized approach to cater to their customers’ needs and buying preferences.

A new phenomenon in global enterprise valuations

The last few years have seen a significant change in the valuation of companies across the globe. If you look at the top 10 companies in the world by their market capitalization from 2011 and onwards, you would notice that there has been a shift in the positions of these enterprises. A noticeable exit from the list has been that of Wal-Mart. The retailer’s spot in the top 10 appears to have been acquired by another retailer, Amazon. There are new entrants for the top spots who did not even exist in the last decade.