Moore’s law was framed largely keeping in mind with the hardware advancements that took place and how it was shaping the IT industry (which in the early years was more skewed towards hardware than software). It can be now safely applied to changing technologies (in this case software taking the lead). Enterprises are slapped with new technology hypes, jargons & threats to deal with – they are often found screaming for help. The hype itself is driven by the marketers of technology innovators and its service providers. Technology innovators are looking to introduce breakthroughs which can alter the existing systems. Service providers do it more as desperate attempt to woo their customers by enticing them with fancy terms. Many times, this may not be an incremental advancement of technology but exponential propaganda.
Large enterprises have a way of dealing with all this because they have well defined partnerships with system integrators who can guide them and their budgets available allows them to run small experiments with newer technologies and make the big decision. But, the small and medium enterprises are often left in lurch.
This is not because they do not have access to the necessary information – today in the flat and highly connected world they are exposed to same information as any other large enterprise but mainly due to lack of trusted advisor, who are their technology business partners. Now, as we stand here to witness the Digital Transformation similar thoughts are crossing the minds of business and technology leaders in mid-market segment. They want to understand if this is for real or are they must pay a price for old wine in the new bottle.
It the reports and in-depth surveys of this space are to be believed, they suggest the opposite which means to say they are acknowledging the digital disruption and are curious to understand if this for real. A simple litmus test for leaders of these organizations is answering the Five Why’s:
- Q: Why am I experiencing sluggish growth and losing my business to competition?
A: My customers are getting disengaged.
- Q: Why are they getting disengaged with my business?
A: They are seeking new ways to interact and to consume our products/services.
- Q: Why has it been difficult to offer or build services for all formats?
A: Leading to lack of technologies/innovations which can support.
- Q: Why has the technology not evolved to meet business needs?
A: Lack of expertise, leadership and advice.
- Q: Why is their lack of expertise & leadership?
A: Company People & Culture to foresee, learn and adopt for business growth.
An exhaustive response and analysis to the above Five Why’s should serve one well to understand the current position and see whether Digital transformation can save your business.