Digital Business Summit: How to ride the digital wave- Valutrics

Digitization, a people-centric effort

In the meantime, organizations are focusing on the hard work of making digital business a reality. On the technology side, McNee said it is important for organizations to focus on creating a malleable digital backbone that they can continuously adapt. Exploring automation opportunities should also be a part of an organization’s digital strategy. But, he added, going digital is less about technologies and more about managing the fundamental changes in business brought about by the implementation of those technologies.

Bill McNee

Digital business requires companies to rethink core operating principles, business models and customer engagement — things that are hard to do, he stressed. These kinds of big transformations require continuous engagement between the C-suite, the various lines of business and IT, with CIOs playing a major role.

One of the factors that makes digital business hard is people are naturally resistant to change, McNee said. Non-IT issues like organizational willingness to change and company culture remain challenges. Therefore, strong executive leadership, organizational alignment and a culture or willingness to change are imperative to success.

There is also a growing recognition that digital business demands new skills: More companies are having difficulty finding the right talent to support their emerging digital business initiatives. McNee advised businesses should be prepared to handle the skills shortage, which he warned will get worse before it gets better over time.

Finally, for companies that are just starting out in their digital endeavors, McNee advised they start small and avoid trying to “boil the ocean.”

“Recognize that it’s often good to be second; you don’t have to be the trailblazer,” McNee advised the audience. “It is critically important to learn from your peers, both within and across industries. Being second to market today is not a losing strategy at all; in many ways, it’s a winning strategy.”