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Digital Transformation – adopting processes and leveraging technology to succeed in the future.

Overview

In this episode of Able-One’s podcast Doreen Sebben – Solutions Lead at Able-One and

Rad Dockery – Director of Digital Transformation have a conversation about Digital Transformation. They discuss some of the opportunities companies and industries have in adopting processes and leveraging technology to succeed in the future. They use case studies, examples, and research to talk about common pitfalls, and how to apply change management into corporate IT strategy.

Shownotes

0:00 – Introduction

0:36 – Canadian Business is behind in Technology Adoption

Globe and Mail Study – We lacked 13/16 on competitiveness. The reasoning is that Canada is at the bottom when it comes productivity and Canada is a laggard when it comes to technology adoption in business.

3:45 – Case Study of Canadian Industry Adopting Technology: Banking Sector

Positive News:

Royal Bank and other banks announce major investments into Fintech.

How banks are making friends with Fintech

Negative News:

“National Bank’s staffing changes are part of a transformation plan aimed at becoming more efficient and better serving customers’ evolving needs — as the entire banking sector tries to make up for slowing revenue growth and stay ahead of leaner, tech-savvy competitors.”

National Bank cuts jobs in shift to digital

4:40 – Case Study: Transportation Industry

“With the opening of Union Pearson Express, a rail link between Toronto Pearson Airport and Union Station, Metrolinx wanted to incorporate digital technology to make this a high quality express rail service….

They are currently designing full on-board end-to-end network infrastructure to support all operational and passenger systems including CCTV, Public Address, Fare Collection, Infotainment and visual next stop announcements.”

3 stories of how the Internet of Things is Changing Transport

6:25 – How can Businesses leverage this digital shift?

Rad makes the suggestion to review your company’s strategic vision, and then look outside the box of how you’re implementing that vision. Technology can help you enable that vision “quicker, faster, and more efficiently. How can you be faster than the next competitor that you see in the market today? Also, don’t forget about the competitor that you aren’t aware of.”

“The business has to start looking at IT as an enabler to help accelerate strategy.”

7:10 – Technology as Strategic Enabler vs. Infrastructure and Costs

To Non-technical people, technology is best when it’s invisible. They only see technology when the servers are down, when emails aren’t working, and when they can’t access their files. Instead, decision makers “ need to start viewing technology as a way to get things done, which is more than just saying ‘make sure this works’” Rad says, “view IT as a partner. How can you extract data from your IT infrastructure to make better decisions?”

10:00 – How do Employees and Organizational Design affect Digital Transformation?

“ Digital Transformation is all about providing an awesome customer experience… the employees play an important part in ensuring the customer experience because they are the ones that interact with them.” says Doreen, Solutions Lead at Able-One.

11:00 – The Perils of not adopting Digital Transformation

Kodak camera invented the digital camera in 1975

11:40 – Leadership Responsibilities in Adopting Digital Transformation

Blackberry was first to market with bringing the benefits of telephones and the benefits of palm pilots. “I didn’t see google coming with Android and now look at where the market is today. Blackberry’s bedrock is gone. This is a clear example of how leadership today needs to constantly be thinking ‘who’s going to try to take you down tomorrow?’ [Leadership] needs to think ahead.”

16:00 – Leadership Adoption and how it is affecting organizations

Goldman Sachs had 600 cash traders in 2000; now it has 2

They are now using AI to do trading and you have top tier MBA graduates used to making $400k/yr out of school and economists are wondering where these jobs are coming from now?

Tools to think about the Future and Digital Transformations

Alec Ross – The Industries of The Future Rad recommends reading this book because “It talks a lot about where technology is going with robotics, digital transformation, cyber security – you know, a lot of things important in the future.” Take what you’re reading and trying to understand about the future and go one step further and ask your employees, your customers about what they see happening.”

17:30 – Top brands can’t rest on their laurels

Mercedes isn’t sitting back on their brand equity. They see what Tesla is doing and trying to compete.

20:00 – What does Digital Transformation look like? How do you start?

Step 1: Find the feedback internally and gather information. Ask yourself, what do you need to do to be better? How can you make your company work better?

Step 2: Don’t boil the ocean – Pick an initiative that you can invest your time into and go after that. Go after a quick win to gather support and momentum.

Step 3: Document your process for implementing this new initiative so you can learn from it for future opportunities. Adapting to change isn’t a one time thing and therefore, change management is something you can develop and get better at over time.

22:24 – Digital Transformation is about Technology Adoption, Not just Technology.

“Able-One is vital for customers. We’re not just going to go to a customer and say buy some licenses of this and here you go: Digital Transformation. It’s more than just that; it’s a process, and a journey. Experts help create the bridge between what’s happening today and what can happen tomorrow.”

23:50 – Digital Transformation is about Managing Priorities

24:00 – Cautions for Technology Offerings and Adoption

“If someone comes in to show you a 50-page slideshow on how great their product works, then throw them out. There’s no shortage of great technology. There’s a shortage of great people who know how to apply great technology to real business issues.”

The first step instead is to ask, what you can do to make your business better for you, your employees, and your partners? It’s not about selling technology. Technology is just the tool. There is no big technology presentation.

25:30 – Take yourself out of your current limitations

Step one is Step back. Where do you want to be without money, time, and expertise limitations?

27:05 – Closing Remarks

Able-One offers consultations with clients so that they can understand you. This is an opportunity to sync up on your current opportunities and challenges. It also helps to assess if there is a role for Able-One on your team and whether more expertise is needed in digital transformation initiatives. Digital transformation is a journey and not a destination. Able-one is a proven partner for navigating towards success.

Contact Information   

Email: Radcliffe.dockery@tekmonks.com

Phone: 416-873-8720

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