- It’s not about the technology- it’s about the business. Today’s most disruptive businesses are not technology companies. They are travel, transportation, hospitality, food service, and financial service or entertainment companies first and foremost. Technology is an enabler. That said, once the business strategy is set, be obsessed with technology and the way it can improve efficiency, reduce cost, acquire new markets, and generate revenue.
- Engage the digital native generation. They are here. Now. They are buying homes, cars, and insurance. They are starting families. And, they have no patience for old, outdated business processes carried over from the 60s and 70s. They expect compelling user experiences across a myriad of devices. And, they expect instant response time.
- Innovation and Agility. In this age of innovation, things change at a blistering pace. Innovation and agility must be in the DNA of the organization. Innovative companies never think “oh, let’s be innovative today.” Agile companies never say the word. They know innovation is not a thing, it is not a process, and it is not a person or department. They know agility is not a sometimes thing. They build it into the fabric of their existence.
- In the digital economy everything moves faster and there is more of it. There are fewer parts, fewer manual process, and fewer choke points. Your systems need to be able to handle unprecedented volumes. Performance is critical, especially for the generation with no patience.
- Everybody is wired together in the digital economy. Only it’s not wires. It’s APIs and interfaces. Think federated access. Do you want to create a new user profile or do you want to log in with Facebook or Twitter? How do companies connect like that behind the scenes to create that ecosystem? Can you connect to the ecosystem of your partners? Can your partners connect to you? Do you have a solid platform to support all this interconnectedness?
It’s a rough and tumble world in the digital economy. The digital natives, the innovative, the agile all have the winning formula. Do you?