Five crucial things to read about the emergence of digital business
Accenture Digital, MMI Holdings and MTN Business recently participated in a panel discussion at the 2015 Gartner Symposium. The key theme at this year's event was all about the emergence of the digital business. According to Gartner, this is the creation of new business designs by blurring the digital and physical worlds. Here are the top 5 insights from the discussion which may apply to your business:
1. The Client Experience (UX and CX)
Organisations will be better equipped to service clients if they understand the client and get to know them. Focus on building a powerful client interface that is also simple and intuitive to use. As more and more devices go online, so does the client experience.
2. Partnerships (Coopetition)
Choose the right partners to take you into the digital space. No single organisation is excellent at everything but by choosing the right partners an organisation can make the leap into digital without the steep learning curve or investment. Partnerships with competitors are becoming the norm, to ensure clients are receiving the best possible experience. Rather than working on your own, organisations should embrace the notion of working as an ecosystem.
3. Remain relevant
Digital is critical to any business hoping to have a future in Africa. Penetration of smart devices is on the rise and with dramatic strides in virtualization and cloud, a great deal of computing power is at the hands of virtually anyone. Content, social media and data is king in the new digital world and evolution is required to remain relevant.
4. Balance of new and old
Being able to balance traditional business processes with innovative digital business processes could make this paradigm shift easier for people to digest. Remember that not everything needs to be digital immediately – you should prioritise based on your desired business outcomes.
5. More than just a strategy
Being a digital business is not just a new strategy, channel or platform. Organisations need to understand that the move to digital is fundamentally a new way of doing things. Companies could either embrace it or lose out to their competitors.
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