Microsoft Convergence 2015 EMEA returned to Barcelona this year for the third time, the event focused on the theme of digital transformation. Satya Nadella, Microsoft’s CEO stated “It’s not just about technology. It goes far beyond that. It is even the approach we take to our business. It is how we partner, how we create flexibility that speaks to the real world needs of our customers. That is the transformation that is afoot, that’s the momentum that we have inside of Microsoft, driven by you.”
This blog will look at how the workplace has transformed and what this means for digital business strategies.
Today’s digital transformation trends for business
Highlighting the importance of business adapting to changes in their external environment, Eva Enslow, Enterprise Strategist for Microsoft, speaking at Convergence “Will you disrupt? Leading transformation in the digital age” quoted Jack Welch, General Electric “If the rate of change inside an organisation is exceeded by the rate of change outside an organisation the end is near.” Let’s look further into some of the themes highlighted.
The world as a giant network
In a previous blog, we discussed the power of mobile in connecting your workforce, one of the major influences driving change within business is the speed and interconnectivity of data, causing dynamic disruptions both outside and inside the organisation and empowering employees. Teams can now engage with each other and with customers from all over the world, enabling collaboration and increasing productivity.
The millennial effect – Attitudes towards business technology
The demographic of the workforce is changing, millennials already form 25% of the workforce in the US and account for over half of the population in India. By 2020, millennials will form 50% of the global workforce. What does this mean for business? With this trend comes changes in employee mind-sets, workforces are expecting different levels of engagement, as teams and customers want a different ways of interacting. Companies who embrace this change at the frontline will reap the benefits. Millennials’ use of digital tools and their affinity with technology means they expect instant access to information. Reverse learning will be seen in the workplace as this will be the first generation with an enhanced grasp of a key business technology than more senior workers.
Customers as brand ambassadors
Where once a customer would simply complete a transaction with a company, customers are increasingly focused on their experiences with an organisation and relate and network with each other. With the advent of the savvy customer and the multi-channel customer landscape, customers are more empowered than ever to impact on a company’s revenue and reputation. The resolution is to view your customers as your business partner who can positively or negatively impact on your business.
Scarce to abundant data
Companies are increasingly leveraging big data in new and unique ways and viewing data as driving actionable insight. The amount of data a company can collect and the contact points for incoming data have all changed. Data collection and security is more important than ever. Few companies realise the true economic value of their data as a resource. A KPMG report mentions that cloud security is still a top concern as IT executives look for ways to reduce costs. 45% of respondents said data loss and data privacy were their top hesitations in regards to cloud implementations.
To date, there have been very few security breaches in the public cloud — most breaches continue to involve on-premises data center environments. Many cloud providers, including Microsoft, invest heavily in foundational technology that builds security and privacy into the development process. With industry-leading security measures and privacy policies.
Silo productivity to co- creation of value
More companies are looking to add value through partnerships and encourage co-creation of value between their employees. According to a July 2012 McKinsey & Company study, there’s over a trillion dollars that could be unlocked by employing social technologies. The study concludes that companies implementing these technologies can double their productivity through better communication and collaboration with employees and external partners.
Optimisation – from efficiency to expansion
Where once the top business focus was on supply chain optimisation and efficiency alone, companies are now also looking to grow into new business channels without occurring additional cost; focusing on submarkets and fine tuning the model. The vast majority of CEOs are optimistic about the economy and their own business prospects in the coming three years. They see possibilities for “efficient growth” and the potential to leverage new technologies to enhance customer relationships and streamline operations. In a Gartner survey, a third of CEO’s and senior executives worldwide named growth as their top priority.
Transform your business – Bringing together people, process and data
The world is changing at an ever accumulative pace. Business leaders face disruption on multiple fronts: changing market value propositions for products, services and interactions – in addition to disruptive technology. With changes in technology, employees must be supported and compensated in order to manage that change.
Evolution strategies rather than rip and replace approaches have been seen to be the most successful and least daunting. Even the most capable of people will resist change to a degree, so companies must align strategy, people, processes and technology in order to succeed.
Microsoft technologies such as Microsoft Dynamics CRM and Microsoft Social Engagement can help companies evaluate sentiment trends for everyone who is in contact with the organisation. Microsoft is focused on flexible technology solutions that help your people get more done and thrive in the age of digital transformation. Contact Prodware today to find out how technology can help drive your business in the changing workplace.