A Smart Enterprise Is A Self-Perpetuating Model

As we said a few weeks ago, we are looking forward to eWorld on February 28th, to attending many of its very useful workshops - and of course meeting old and new friends in the world of procurement. We also highlighted Coact Consulting Group, who offer advisory services to help companies gain commercial growth, by identifying and helping to solve barriers, and enabling strategic partnerships. They have deep knowledge of digital transformation, and very innovative thinking, so we are keen, given the eWorld theme of being 'future fit,' to hear what the Director Bastiaan van Drempt has to say on the subject of how technology can help innovate your business model. Hope to see you there, but in the meantime, here is Bastiaan:

Every organisation is a technology enterprise creating a platform for people to connect, collaborate and innovate. It is therefore no longer about formulating a digital strategy, it is all about creating a strategy to thrive in an inter-connected digital world.

This makes digital transformation a pertinent topic with companies operating in every sector, industry or country focused on how to integrate new technologies into their operations to transform their organisations end-to-end.

The reason why digital transformation is so important is that the core capabilities of an enterprise are not ‘unique’ which means that everyone must leverage technologies such as IoT, Data Analytics, Smart Contracts, The Cloud or Blockchain to effectively compete on variables such as price, quality, risk and time going forward.

However, business transformation is not a change-management programme nor an upgrade of existing technological capabilities, but the start of a journey without a predefined outcome ie start-up mentality. Keep in mind that nobody really knows what the future holds but everybody knows that adaptability, flexibility and agility are pivotal to survival.

Organisations must therefore become ‘smart enterprises’ now to continue to operate effectively irrespective of the (digital) operating environment later. Transformation predefined:

'A smart enterprise is a platform to connect people integrating ICT to effectively manage intellectual property, know-how and data to optimise its operational performance, network interconnectivity and value proposition with collective intelligence, community and purpose central to its design'.

Human intelligence, technology and data need to be leveraged optimally to create a situation where organisations become one with their environment. So digital transformation is implicit for a smart enterprise.

A zero-based budget approach is required, leveraging both the internal and external market to set out Specific, Measurable, Attainable, Relevant and Timely criteria for organisations to dedicate the resources required to reach this optimal state. This type of benchmarking exercise represents a paradigm shift away from the usual process of articulating a 20:20 or beyond vision to second guess a future unknown.

To make a start on this journey, Coact Consulting Group are conducting insight seminars on ‘How business can find technology to innovate their business models’. This seminar covers:

  • Guiding principles to govern transformation
  • Integrated framework to unlock creativity, flexibility and efficiency
  • Outline commercial benefits of using this structure

New technological advances no longer represent the constraint for organisations to become a ‘smart enterprise’ therefore the question is more how organisations can self-perpetuate towards this type of operating model.

Let’s navigate business transformation without opening Pandora’s box.

 

You can register for eWorld here, which is free by the way.

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