“Innovation is happening faster than companies and people can assimilate it,” he explains. “That creates significant challenges due to a lack of skills and the lack of a long-term strategy. Companies are only thinking about evolving to solve short-term needs, rather than thinking forward in where this evolution will take us.”
Leadership must play a critical role not just in driving an idea of digital transformation and IT modernization, but to actually put it on the agenda as something that will truly change the way a company works. “Thinking in terms of this ‘Digital Convergence’ will work only if leadership is thinking further ahead,” he says.
Overall, true digital transformation is still at the very early stages for most organizations.
“Organizations are facing the functional challenge of how technologies should be implemented and the operational challenge of how to put things together to satisfy client needs,” he says. “And of course, this all needs to be put into the lens of the most important objective for any company, which is how to leverage technologies to satisfy our clients and ultimately make more money.”
To make the right decisions, he says the first step is to establish cross-functional alignment across the organization and to implement a cohesive view of technology based on the needs of the customer. “Considering how technology should help achieve a customer-first objective through very clear KPI’s is key,” he says. “Technology is meaningless if it has no purpose.”
Successful, large-scale innovation requires a lot of knowledge and investment. But if organizations do not take the time to invest in that future, they won’t be around for long. “It’s not a coincidence that ranking of the top 50 companies 10 years ago is so different than what it is now across every industry,” he says.
“Today, organizations, must think: ‘How do we approach technology in a contextual way as they all converge into that incredible future where everything will be possible, and which is the right technology partner to begin that journey with…” he says. “Only those who see the future can and will use the right tools today.”