Is your business ready for digital evolution?
Digital evolution is causing entire industries to change at rapid pace.
Information is power, and the power that once sat squarely with organisations has shifted to those consuming goods and services.Digital technologies in particular have enabled people to gain greater access to not only vast quantities of data, but the right data to make better decisions.
Traditional businesses experience disruption when their business model is fundamentally changed by a digital model; one that is usually less expensive to maintain, faster to deploy and usually provides a better customer experience.
Digital transformation is thus about all businesses taking advantage of what is now possible.
By understanding what they have and realigning with longer-term outcomes in mind, businesses can keep one eye on tomorrow, while another is still firmly focused on outcomes for today. The transformation process is about balance – knowing that disruption is here, but crucially, learning as you go and pacing the redeployment of your business’s core strengths appropriately.
Away from the extremes of rip and replace, many seemingly static and steady firms are quietly disrupting themselves.
Telstra Wholesale commissioned this study to help our customers and their own end-users understand where their businesses lie, how they compare to others and what they can do to achieve better business outcomes.
The survey was based on a sample of 200 Australian business leaders, 100 of them from technology and ICT companies, so it is highly relevant to Telstra Wholesale’s customers and their end-users.
Traditional business models are less effective in achieving positive outcomes centred on revenue, loyalty, experience and satisfaction.
To help businesses map their own pathway to transformation, Telstra Wholesale has devised the Business Effectiveness Scoring System (BESS). The scoring system helps business leaders, our customers and their end-users understand how effective their current organisation is at achieving positive outcomes, while highlighting areas for improvement and focus.
To understand their BESS score, leaders in the study assessed the different components of the business model (mindset, structure, platform and ecosystem), and rated them against specific outcomes to produce a score.