Everyone is getting ready to welcome 2015 and it is time for resolutions. It is time to reflect back on 2014 and see what we can all do better in the coming year. One thing that is quite clear is that Digital enterprises are leading the way and disrupting established market players. Combine that with changing market conditions and the buying behavior of the millennial generation. Every business has to change to stay relevant to consumers and become a digital business.
What exactly does becoming digital mean? Earlier this year, my colleague Sven Roeleven wrote a blog on different forms of digitalization. Majority of the companies in US adopt Digital initiatives to improve efficiency and reduce operating costs.
In Karl-Heinz Streibich’s book The Digital Enterprise you will see how 20 of the world’s most successful companies keep up with the pace of customer expectations by becoming a Digital Enterprise. Industry analysts such as McKinsey and Deloitte are focusing on the Digital business and highlighting the value of Digitizing your business processes. Every market segment now faces the challenge of digital entrants. The options for established businesses is clear: either become a digital enterprise or perish.
In a survey quoted in Sven's blog, "just 25 percent of interviewed executives indicated such investments were geared toward helping the company reach customers. The emphasis is on greater operational efficiency rather than on growing sales, opening new sales channels, or creating new products or services.” Make a resolution to change that in 2015. Create a digital strategy which focuses on customer acquisition, growth, opening new revenue channels and creating new products. Optimization and cost reduction should be an on-going initiative and not a focus for the Digital endeavors. Keeping our customers' future needs in mind Software AG has launched industry's first Digital Business platform which can help you in your Digital transformation.
We at Software AG wish all Reality Check blog readers a Happy New Year!