What Constitutes a Best-in-Class Digital Business?- Valutrics

A commitment to emerging technology, when combined with a dedication to better user and customer experiences, is translating into significant revenue gains for companies, according to a recent survey from Alfresco. The resulting report, “The Great Rethink: How Digital Leaders Are Building Tomorrow’s Organizations,” distinguishes best-in-class digital organizations from “lagging” ones, with best-in-class companies defined as those that excel at “design thinking” by focusing on user and customer experience needs to guide all business technology decisions. They also are committed to “open thinking”: Innovation inside and outside the organization drives new initiatives. Lastly, they practice “platform thinking,” by building an ecosystem of partners and customers to exchange technology capabilities and data. “In today’s digital economy, some organizations succeed by adapting to disruptive threats, moving quickly into new markets, attracting the best talent and maintaining highly regarded brands,” according to the report. “Others struggle. They see market share drain away to upstarts; they respond too slowly to market shifts; and suffer employee attrition. They get bogged down in outdated processes and systems. … Digital success is consistently powered by the efficient movement of information and content through business processes—connecting customers, employees and suppliers across departmental and operational boundaries quickly, securely and intelligently.” More than 325 global IT executives took part in the research, which was conducted by Forbes Insights.