Digital Transformation

For 2018: Top 5 Practical Insights to achieve Digital Business

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Framing the digital business journey

"Skip the hype - digital business is about change, plain and simple" Sitting down this week with CEO Rob McGillen, founder of Practically Digital, we ask his insights that business leaders should understand on digital business and transformation. 

"Digital means something different to every person, and every company" observes Rob McGillen.   "Many times, tech companies and consulting firms are sharing digital visions about the future 3 years from now - without any clarity on what you can do now to get to that future.     

We see it differently.  Working across industries, we sense clear business trends and digital investments that make a major difference.  That is what we focus on with our clients - finding better choices and helping them on the digital journey now."

2 years on, business is growing rapidly for Practically Digital.  Part of the growth success is the intentional focus of Practically Digital's services: 

  Practically Digital:  Focusing on digitizing the business processes that matter

Practically Digital: Focusing on digitizing the business processes that matter

"Many companies are daunted by digital 'moonshots' which take years and millions to achieve.  These big bets are risky and impact growth. " shares Rob.  "Our focus at Practically Digital is to help digitize the common business practices all companies face.   

This approach helps build confidence, delivers incremental value quickly, develops change skills on digital business, and establish a 'digital first' eco-system for the business.   When everyone is thinking and working digital - it is much easier to go for the moon, and much less cost and time."

 

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the top trends in digital business that make the difference

Looking across all of the clients and talking with hundreds of business leaders, we see the following 5 trends making a difference:

1) Stay hyper focused on the digital / real world customer.  The customer experience remains key, and needs to be continuously aligned with.   Journey mapping the customer experience (B2B or B2C) across your real world and digital touch points with your brand and service / solutions makes a major difference as you adopt digital solutions.  Bring those touch points and insights back to a cloud based CRM / relationship system.    

2) Digital Sales Enablement is the secret weapon to digital growth.  Digital marketing and social media are 'table stakes' activities - you need to do it, your brand absolutely needs the visibility, and- it has become a commodity.   Digital Sales Enablement - integration of 'facilitated sales platforms' and CRM solutions is becoming the major capability that companies can leverage to increase sales and growth.    

3) Artificial Intelligence has reached a maturity stage, where smaller players who are specializing and partnering.  You will see A.I. embedded in over 1/3 of your products and platforms in the the course of the next 24 months.   It is now found in part on chips in the newest iPhones, and more importantly - the cloud-enabled platforms are embedding and making possible for customer service, sales support and analytics, relationship builds with customers, and even tailored customer intake processes.  

4) Robotic process automation (RPA) is ready for the prime time.  As more companies are struggling with outsourcing (either visas, quality, or contract renewals) - the alternative that is now commercially viable is RPA.  Over 20 solution providers now exist in this space, and you will see the major consulting companies and outsourcing / system integrators will be offering this as a strong / lower cost alternative to the traditional BPO / ITO solution.  Get ahead on this curve and decide which makes sense for your company.   

5) Digital collaboration platforms (with video and content targeting and sharing)  that work on mobile are becoming a major supercharger for corporate speed and decision making, and engaging field / remote team members with a core corporate center.  We are finding companies who leverage these new generation are finally making a difference in the area of collaboration.   

 

A final insight from Rob McGillen. "These 5 digital activities are not hard efforts to rapidly prototype and bring online if a company is ready to make the journey.  The right thing to do is tackle one or more of these initiates together that enhance the collective value to the company. 

If you want to engage the customer better - focus on Sales, Marketing, transactions.  If you want to improve efficiency and growth within - collaboration and video engagement are great choices.   It depends on your business goals now and next. 

The key point is 'don't wait' for the digital moonshot opportunity.  Be practical and get moving! "

*  *  *  *

To learn how Practically Digital can help your company on digital transformation and capabilities you might consider, get in touch!

5 Practical Insights to achieve Digital Business

5-Insights-Practically-Digital-Business.png

Making a digital difference for companies ready to skip the hype.

Sitting down this week with CEO Rob McGillen, founder of Practically Digital, we ask his insights that business leaders should understand on digital business and transformation. 

"Digital means something different to every person, and every company" observes Rob McGillen.   "Many times, tech companies and consulting firms are sharing digital visions about the future 3 years from now - without any clarity on what you can do now to get to that future.     

We see it differently.  Working across industries, we sense clear business trends and digital investments that make a major difference.  That is what we focus on with our clients - finding better choices and helping them on the digital journey now."

2 years on, business is growing rapidly for Practically Digital.  Part of the growth success is the intentional focus of Practically Digital's services: 

  Practically Digital:  Focusing on digitizing the business processes that matter

Practically Digital: Focusing on digitizing the business processes that matter

"Many companies are daunted by digital 'moonshots' which take years and millions to achieve.  These big bets are risky and impact growth. " shares Rob.  "Our focus at Practically Digital is to help digitize the common business practices all companies face.   

This approach helps build confidence, delivers incremental value quickly, develops change skills on digital business, and establish a 'digital first' eco-system for the business.   When everyone is thinking and working digital - it is much easier to go for the moon, and much less cost and time."

 

5-Insights-DB.png

the top trends in digital business that make the difference

Looking across all of the clients and talking with hundreds of business leaders, we see the following 5 trends making a difference:

1) Stay hyper focused on the digital / real world customer.  The customer experience remains key, and needs to be continuously aligned with.   Journey mapping the customer experience (B2B or B2C) across your real world and digital touch points with your brand and service / solutions makes a major difference as you adopt digital solutions.  Bring those touch points and insights back to a cloud based CRM / relationship system.    

2) Digital Sales Enablement is the secret weapon to digital growth.  Digital marketing and social media are 'table stakes' activities - you need to do it, your brand absolutely needs the visibility, and- it has become a commodity.   Digital Sales Enablement - integration of 'facilitated sales platforms' and CRM solutions is becoming the major capability that companies can leverage to increase sales and growth.    

3) Artificial Intelligence has reached a maturity stage, where smaller players who are specializing and partnering.  You will see A.I. embedded in over 1/3 of your products and platforms in the the course of the next 24 months.   It is now found in part on chips in the newest iPhones, and more importantly - the cloud-enabled platforms are embedding and making possible for customer service, sales support and analytics, relationship builds with customers, and even tailored customer intake processes.  

4) Robotic process automation (RPA) is ready for the prime time.  As more companies are struggling with outsourcing (either visas, quality, or contract renewals) - the alternative that is now commercially viable is RPA.  Over 20 solution providers now exist in this space, and you will see the major consulting companies and outsourcing / system integrators will be offering this as a strong / lower cost alternative to the traditional BPO / ITO solution.  Get ahead on this curve and decide which makes sense for your company.   

5) Digital collaboration platforms (with video and content targeting and sharing)  that work on mobile are becoming a major supercharger for corporate speed and decision making, and engaging field / remote team members with a core corporate center.  We are finding companies who leverage these new generation are finally making a difference in the area of collaboration.   

 

A final insight from Rob McGillen. "These 5 digital activities are not hard efforts to rapidly prototype and bring online if a company is ready to make the journey.  The right thing to do is tackle one or more of these initiates together that enhance the collective value to the company. 

If you want to engage the customer better - focus on Sales, Marketing, transactions.  If you want to improve efficiency and growth within - collaboration and video engagement are great choices.   It depends on your business goals now and next. 

The key point is 'don't wait' for the digital moonshot opportunity.  Be practical and get moving! "

*  *  *  *

To learn how Practically Digital can help your company on digital transformation and capabilities you might consider, get in touch!

Being Different in a Digital World

The most frequent question we have heard this year at Practically Digital Why does digital matter to my business”

The short answer, because the business world has changed, quickly. The number of people with mobile devices now exceeds PCs, the degrees of engagement for customers are tilting strongly into digital territory, and customer expectations (and attention spans) are drastically heightened and short. There are growing piles of statistics that indicate that the business world is now running at a different speed. 

Digital is about time. Saving it. Optimizing it. Being different and catching the eye, thought, and opportunity for a customer to engage with your company.  Time is the most valuable asset in commerce today (both for the business and customer).

That is why differentiation in the digital world matters. The historic business activities, processes, and outcomes are growing tired in the eyes of the customer base.  People are ‘swiping left’ on companies they no longer have time to explore or wait on.  Customers are looking for fresh and engaging. They are looking for different. 

Companies who get the digital opportunity are leveraging this unique era to grow exponentially, much as they did during the 1st and 2nd Internet revolutions.  Optimizing customer journeys through digital engagement points (web presence, social media, email campaigning), selling with a high degree of affinity for the customer’s preferences, and concluding contracts in hours and days (instead of months and quarter) are all ways that leading companies are differentiating themselves.   

For 2017, we foresee a greater opportunity through digital than ever before. Companies (and individuals) who want to differentiate and go to market quickly and with high customer affinity – can do so for modest investment and effort.   

Finding those right digital business capabilities is what we focus on with our clients. Helping our clients understand the opportunities, how to roll up the sleeves and get forward quickly, and better engage customers.   We believe every company is a digital business, and the digital opportunity awaits in the year ahead.  

Start your digital year right at www.practically.digital In a digital world, be different.

 

The Digital Business Portfolio: A balanced approach to transformation

In the past months, a growing trend we have seen is the corporate appetite for ‘digital everything’.  Looking for ‘moonshots’ and transformation at every turn, digital transformation seems at the top of every agenda. 

The challenge with that is the amount of organization change it requires succeeding at one transformation cycle, much less ‘all things to everyone’.   Based on experience, we recommend a more balanced, portfolio approach to digital transformation.   How to do? Read on!

Asset classes in a ‘digital portfolio’

Like an investment portfolio or real estate holdings mix, ‘digital’ portfolios have different types of investment for different types of result.    Depending on a company’s risk tolerances, market conditions, and maturity, each portfolio investment can make a major digital difference on your journey.  

 an example Digital Business Portfolio with weight towards Sales transformation & growth

an example Digital Business Portfolio with weight towards Sales transformation & growth

Asset class: Growth-focused digital changes

In this area of the portfolio, the digital investments are focused on growing the top-line revenue and market growth for a company.  Most often this is through digital experience changes, including improved digital presence (websites), customer / user experiences, mobile / app capabilities, sales enablement, digital marketing and brand building, and accelerated transaction processing.    All are focused on driving brand awareness, marketing engagement, and 'click to close' sales outcomes.

Asset class: Digital efficiency efforts

Digital improvements to a company’s eco-system are not limited to top line revenue efforts.  Each area of a business, including the traditional functions like Human Resources, Corporate learning, Finance, Collaboration and information sharing within a company – all have digital opportunities today.   

Migrating many of these to the ‘cloud’ is a common response – though thought needs to be given to key dependencies including identity management (logins and access controls), information updates and real time ‘feeds’ of core information, and the ability to record  outcomes across multiple systems. 

Business process automation, machine learning, and robotic process automation (RPA) are all digital investments in the operations portfolio.  

Enterprise architecture is a key skill that a company needs to have in abundance when undertaking these sort of changes, as digital experiences can set (or disrupt) corporate culture quickly if not done well.  

Asset class: Improving the digital risk position

 With the constant talk about ‘digital transformation’, the security and stability of a company’s infrastructure usually takes the back seat to other new digital imperatives. 

What can be missed – the importance of information security, life cycle management of information including data backups and restoration (now cloud enabled), and continuous cyber-security interference.   If you do not consider these when you digitize, you put the entire portfolio (and likely company) at a much higher risk. 

The wisest of companies are continuing to invest in their information security capabilities and readiness in parallel to other digital efforts.   These include upgrades to network monitoring and intrusion detections, preparations for the malware outbreaks, and cloud disruptions are now common place.  

When you accelerate, and enable digital systems to interact across cloud platforms, disruption and reliance on third parties become a higher priority to manage than ever before.  Either outsourcing to a trusted third party the management, or investing in automated tools and infrastructure that identifies and protects issues is a better practice.  

 

Different digital portfolios for different (corporate) goals

Each company is at a different maturity stage with technology (digital or otherwise), personnel capabilities and staffing (outsourced, in-sourced, hybrid, shadow IT), and market conditions faced.  That is what makes finding a ‘perfect answer’ for digital a broad spectrum response to this sort of query.  There are several archetypes and better practices to start with.  Some of the more common digital models observed include:

Growth minded (with lower priority on efficiency or risk factors):

-       Aggressive user experience / customer journey mapping projects that focus on touch points and digital marketing to sales conversion.   CRM platforms are usually up for review and transaction / deal flow enablement technologies are implement;

-       An efficiency / operations project to improve collaboration or work place experience (HR platform / benefits platform)

-       Outsourced managed info-security scanning and monitoring.

In this scenario, investment in a digital marketing / IT savvy solution partner, and investment longer term in a digitally experienced CMO is recommended.  With focus on the digital marketing / sales experience, companies pursuing this transformation will find themselves often in the land of digital agencies and solution providers enabling direct email marketing, social listening and auto response, and managing engagement campaigns across many digital channels.    Internal initiatives will take lower priority by cultural / leadership focus

Balanced with bias towards conservation of capital (typical private SMB):

-       1 to 3 digital growth initiatives (marketing, digital user experience, sales enablement)

-       1 to 2 efficiency efforts (digital transaction management, workforce collaboration)

-       2 risk management efforts (data center replication to the cloud, information security testing and systemic improvement)

In these circumstances, the corporate entity is balancing a finite capital budget with the new operational expense costs of many ‘cloud’ platforms, and attempting to execute change in concert across these multiple areas.   In this scenario, having a centralized change office / project management office, working in concert with enterprise architects to ensure alignment between information process and business / experience outcomes.   

Digital ‘dabbler’ with low(er) risk tolerance

-       1 digital growth initiative (digital marketing and social media listening typically)

-       1 efficiency effort (usually a long running and slow moving back office migration to a cloud platform, or industry vertical cloud shift)

-       2+ risk management digital solutions

In these portfolio cases, the investments on digital transformation are limited and enterprise risk / operations are willing the majority of budget, talent, and focus for the business.  This scenario is not a bad one for a slower moving incumbent / market leader that has a sizeable revenue gap and time to evaluate and implement digital capabilities at a slower pace.  The risk, that a disrupter/ competitor emerges – exists and digital can become a hurdle (vs. a benefit) in the scenario. 

Which ‘digital assets’ and model are right for you?

This is where we help.  Finding the right ‘digital transformation’ game plan for your company is what we help companies identify, prioritize, and enable.   Making the digital journey is a challenge, and we believe in practical answers tailored to each Client’s market, business, and digital conditions.   

To learn where and how to start on your digital journey, or to optimize your digital portfolio in place today, get in touch!    We provide a free hour’s assessment and chance to understand the ‘art of the possible’ and how you can become a better digital business!       

Sharing the Digital Transformation Bonfire: Our Drinks N Digital events

 Rhinodox leadership including Justin Ullman, Kevin Carlson, and Julia Huang, speaking on July 13th 2017 at TechNexus

Rhinodox leadership including Justin Ullman, Kevin Carlson, and Julia Huang, speaking on July 13th 2017 at TechNexus

 Last evening, we had a great evening with over 40 people attending our monthly Drinks N Digital event, this time with a new innovative technology company Rhinodox sharing their vision and Worklight platform.  

During the event I had a chance to connect with many of the attendees, and heard a frequent question: “Why do we (Practically Digital) host these events,  - they are different than most?!”  

The Answer: every fire needs help to grow, and when we find really cool technology solutions we want to see flourish in the world, we throw a party and invite our friends to help build the blaze! 

Really cool is subjective, we know.  Really cool can be transformative in an industry, bringing a new solution to the market that solves hundred (if not thousands) companies needs.  Rhinodox is one of those we feel.  They have innovated and launched a contextual search and workflow automation platform that helps companies reduce repetitive work.  Impressive capabilities and results for any company - especially those handling large amounts of standard forms, claims, records, or files.   

Other times our events highlight an emerging services companies that is taking a fresh look, often disruptively – to existing industries.   All of these events generate dialog, moments of ‘wow I wonder if…’ and follow up meetings and conversations around the food and beverages provided.   

Our events serve another purpose - they help bridge the enterprise / corporate IT and operations worlds, with the startup / tech community here in Chicago.   There are thousands of emerging tech companies each year, and finding new solutions that help you digitally transform is much easier when there is a location, a time, and free food and beverages to help you get started.   We dig it when great teams come together, and we hope our attendees do as well!    

If you are interested in learning about future events and joining us, sign up to our list below.  If you are interested in presenting (even better!), get in touch at contactus@practicallydigital.net and let’s talk about your awesome tech solution or service!

+ See you at our next Drinks N Digital event!  -Rob