Good article on why disruption is key, this paper maintains that keen focus externally / internally, making data driven decisions and being able to execute rapidly are key for all companies in the digital age. Interesting stats on banking relationships on pg4.
“A digitally transformed organization is hyper-aware, predictive, and agile—with dynamic processes enabling it to adapt and thrive in an environment of near- constant change. Moreover, it will be in a position to capture its share of the $19 trillion in combined IoE Value at Stake for public and private sector organizations over the next 10 years.
Considering the speed at which disruption is occurring, change will be uncomfortable, even when it presents new opportunities:
- In 2014, only 12.2 percent of the Fortune 500 companies from 1955 were still on the list, and their life expectancy is continuing to decline.
- Gartner estimates that by 2020, 75 percent of businesses will be digital, or have digital business transformations underway. However, only 30 percent of those efforts will be successful, owing in part to a lack of specialized talent and technical expertise.
- Seventy-eight percent of organizations have not yet established the capability to manage and transform processes across different parts of
their organization. Yet delivering expected returns from digital business investments requires process reinvention—that is, significantly innovating how products and services are created, priced, distributed, and serviced across not just one group, but often across the value chain.
The winners that emerge from this heightened period of disruption will have planned carefully and become fully digital businesses. Within this new model, their business processes will be intelligent systems that respond to any situation, connecting with both machines and people to enable critical, real-time responses and insight-driven decision-making.”Connected_Futures-digital-business-transformation