A digital transformation, for any industry is underpinned by 4 key areas of evolution.
#1 Redefine Value Proposition
Industries need to think about how to create new economic moats.
A business's ability to maintain competitive advantages over its competitors (through process and technology innovation and patents) in order to protect its long-term profits and market share from competing firms, necessarily requires traditional industry boundaries and conventional business models disrupted.
What sort of partners do you need to do to create your economic moats? An agile, entrepreneurial Telco forms an invaluable part of new business models. Digital experiences need connectivity, cloud resources, smart infrastructure, artificial intelligence driven operations, complex virtualization etc. Equally important, a telco can give you a cost advantage, flexibility in switching and can bring intangible assets such as patents and licenses. The telcos that really do stand out are the ones that can work with uncertainty, fit into your ecosystems and bring more partners to your economic moat.
#2 Eliminate Time and Distance Barriers
Learn how to combine digital technologies with digital assets to eliminate unnecessary constraints.
Terms such as frictionless, seamless, re-engineering, end to end are common vernacular. But how many organizations have the courage to reconsider their value chain and literally 'rip up the book' on status quo? Are there sacred cows that can’t be touched? Or things happen because that's what it always happens?
There is a multitude of opportunities for organizations to couple digital technologies with digital assets to remove time and distance barriers across the organization’s value creation model. A good technology partner will not start with automating or optimizing current processes. They will challenge why things are done, what the real outcomes need to be (not should be) and create new thinking across the end to end, including structural reorganization, skills and roles.
# 3 Create New Digital Assets
Organizations need an entirely new approach to properly manage and leverage these digital assets
Organizations need to create new digital assets around their customer, product and operations. But what are digital assets? Broadly, these are images, photos, audio content, data created and stored in binary form to which you have the right to use to create a valued insight. An example of this would be a digital identity, cryptocurrency, digital brand measures. More abstract examples include insights such as tendencies, inclinations, predispositions, propensities, biases, preferences, trends, life time value, performance and usage patterns, associations and affiliations.
Digital assets never wear out and never depreciate. In fact, the more that you use these digital assets, the more their value increases. And these digital assets never deplete so they can be used across an infinite number of use cases. Telcos add a tremendous amount of value from architecture to security, to storage, backup, governance, distribution and latency. Partnering with the right telco who understands how these assets are used, and will be used, can lift the value of these digital assets.
#4 Predict, Dont Just Personalize
Leading organizations predict what's likely to happen, prescribe actions and learn from the results faster than their competition.
Every customer engagement is an opportunity to learn more about the preferences and behaviors of your customers. Every product activity is an opportunity to learn more about the performance and usage of your products. Every employee, supplier and partner engagement is an opportunity to learn more about the effectiveness and efficiencies of your operations.
Leading organizations do this at scale, continuously exploring new ideas and testing new concepts in order to fuel the continuous learning cycle. These organizations take calculated risks and quickly achieve break-through moments. They are the ones with products, services and processes that self-monitor, self-diagnose, self-correct, self-learn and are continuously refined. Great ICT partners with effective resource and cost structures can provide the elasticity to scale as you learn and refine, they serve predictive actions, collect trigger events and process these at speed as you evolve.
Global telecommunications companies such as HGC is equipped with many leading edge capabilities to create win-win service orchestration and provisioning across international ecosystems.
HGC's SDN capabilities offer zero-touch provisioning, coverage and demand elasticity. In addition, Hybrid cloud connectivity makes it possible to achieve low latency, end-to-end, data centre connections across multiple geographies, as well as direct connections to major public cloud providers. Our API information exchange brokers processes and data exchange with our partners, customers and supplier so that the community can achieve last mile service provisioning; near real time service activation; and flexible billing. HGC's API Hub is a cloud based platform, providing the highest levels of availability, resiliency, and scalability. HGC's APIs enables SDN architectures from different network service providers to interoperate with each other, integrating with their state-of-the-art solutions and accelerating the establishment of a robust international marketplace