This week the online magazine for IT professionals, www.istart.com.au, published an interesting article discussing some recent analysis conducted by Gartner. We found it interesting because it relates to business transformation, and how disruptive technologies (like ours!) are changing the landscape now and into the forseeable future.
Here are some of the great quotes from this article along with our quick reflection;
Transformation remains a critically important phenomenon across all industries. Many industries will face intense challenges in 2014 and beyond, and will have no choice but to radically change their established business models
We see many of our clients adopting new technology to automate business process for exactly this reason. As they change their business models, the existing system for supporting business process cannot change quickly or cheaply enough, and in many cases, they find that there are no systems in place to drive the critical processes, instead relying on the intellectual property that is stored in peoples heads.
Last year saw many industry decision-makers focusing on adopting new technologies to improve business operations by addressing developments such as the convergence of social, mobile, cloud and information. Today, by contrast, leaders are significantly shifting their business models and processes
There has been a lot of focus in recent years on “getting into mobile” and “getting into social media”. We think that this initial wave of enthusiasm is giving way to a more focussed analysis on what delivers verifiable returns to the business. This is resulting in more focus on how the core business processes in an organisation operate – as businesses seek to make them lower cost, more scalable, more predictable and less error prone. Mobile and social are not going away, but the executive infatuation with them is now being tempered by a need to improve the core business.
The need to digitalise the business and be customer-centric is also crucial, and requires new approaches to information delivery, communication and transactions
The point about “digitising” business is interesting to us because we see so many organisations that are entirely reliant on the informal knowledge networks that exist within their staff to get things done. If people leave, or fall ill, there is no recorded or accessible mechanism to backfill this loss of knowledge. Digitising processes as mentioned here addresses what we have been calling “key person dependency risk”.
By 2016, poor return on equity will drive more than 60 percent of banks worldwide to process the majority of their transactions in the cloud.
We frankly find this hard to believe – but are amazed that an organisation such as Gartner, that makes it’s living on predicting IT trends, is so clear about this.
All in all, it was a very thought provoking article. You can find it at iStart article about Gartner analysis we hope you enjoy it.