For years, I’ve heard that investing in technology improves productivity. However, further research on this topic shows that technology investment productivity has been steadily declining over the last two decades due to digital investment and stakeholder disconnection, increased technical debt, and the prevalence of digital identity. I understand. Now, as we begin to break out of the pandemic, we are facing a new decade of accelerating digital and technology needs, as well as further changes to technology and promises of demand. Factors driving these needs include buyer behavior as they move to values, privacy, and experimental prioritization. Future redistribution of work. Changes in marketing dynamics will redefine the operating model.
Future adaptation path to customer attachment
With these major changes happening, technology leaders need to rethink their approach to technology, catch up, and ideally lead. Customer attachment-putting customers at the center of business leadership, strategy, and operations-must provide leaders with the North Star they need. To achieve customer attachment, companies are encouraged to adopt a so-called future fit technology strategy. This approach is tailored to specific future success characteristics revealed by a quantitative analysis of more than 10,000 consumer and employee survey responses, as well as a qualitative analysis of numerous interviews with successful technology leaders. I am. Forrester defines future conformance technology strategies as follows: A customer-obsessed approach to technology that enables companies to quickly restructure their business structures and functions to meet the needs of future customers and employees with adaptability, creativity, and resilience.
why Future adaptation technology strategy Is it very important? This allows organizations to boldly pursue customer attachment in the face of ongoing uncertainty and changing business needs. Technology accelerates the ability to quickly adapt to new customer, market, and competitive realities as they arise. Simply put, future adaptation technology strategies allow companies to outperform competition and embody the following characteristics to drive growth:
1. Adaptability: Being able to restructure core business concepts. To meet future needs, companies develop the ability to gather new customer and market insights and restructure their core business concepts. With a flexible technology base and a rapidly changing business operations model, companies will grow strongly beyond agility with adaptive talent management and open culture. For example, Mastercard’s adaptive culture has helped pursue emerging adjoining markets such as cutting-edge fraud solutions, B2B payments, and business optimization services. And when Uber’s ride-sharing business was hit, it doubled its delivery business and workforce.
2. Creative: Bring emotion and engagement to your digital customer experience. Too many companies are solving the same customer problem with the same technology solution. To differentiate, companies need to use their creativity to organize their experiences and digitally represent the value of their brand to their customers and employees by meeting their emotional needs at relevant engagement points. I have. For example, Domino’s Pizza creative agency Crispin Porter Bogusky focused on the entire pizza experience, from ordering to delivery to take-out. This includes a campaign to fill a hole in Domino to protect takeaway pizzas at drive homes.
3. Resilience: Realize product vision and brand promises regardless of crisis.
COVID-19 Pandemic identifies and mitigates risks, invests in business continuity planning, builds flexible crisis and incident response capabilities, and designs business and technology systems and processes for reliability and flexibility. It has proven to be a major test for resilient companies. For example, one of the largest public medical groups in the Asia-Pacific region, due to its growth preparations, launched an “e-COVID system” within 72 hours and an IT system in a 500-bed quarantine center in 24 hours. Has been introduced and more is being done. Over 120 IT initiatives in 6 months.
Start the road to a future fit
We recommend investing in three major Ps to pave the way for future adaptation. Platforms, practices, and partners.. The standard mantras for IT are people, processes, and technology. These are important, but we believe there are core drivers who can reduce time to value in order to increase adaptability, creativity and resilience. A platform that bundles features focused on delivering to customers and employees is the central focus of technology strategies to reduce time to value, reduce complexity, and reduce technical debt. Should be. Practices, on the other hand, embody a cross-functional team with shared accountability and trust, moving faster towards and achieving shared goals. Finally, partners enable collaborative innovation and increased transparency with vendors to stay one step ahead of their competitors.
Theoretical elements are not the only core elements of future adaptation technology strategies. They provide the blueprints you need to rethink your operating model, create new digital experiences, and optimize your technology stack. Our research shows that companies are growing that leverage adaptability, creativity, and resilience to adapt to the future and meet their customers’ most urgent needs. 2.7 times faster From their peers. With this blueprint in place, it’s clear that leaders are ready to face unprecedented changes, demands and actions in the new technological era.
https://www.informationweek.com/enterprise-agility/think-adaptive-creative-and-resilient-to-drive-growth Think of “adaptability, creativity, resilience” to promote growth