‘Mindset is the biggest challenge in Digital Transformation’
Subhro Mukherjee, Senior Consultant, Deloitte Digital.
While most companies are today talking of Digital Transformation, do all of them have effective strategies in place for implementation?
Digital Transformation is a buzz word associated with every organisation aspiring to improve the way they do business using technology interventions. This is not something new, as technology has always been at the forefront of driving efficiency in whatever we do. What has really changed is the speed, adoption, cost and revenue aspects which have significantly been impacted by companies using digital effectively versus companies that are still sceptical about using digital in their business. Some organisations are struggling to put a workable strategy around digital especially on implementation roadmap versus expectation on returns. On the other hand, companies born in the new age have started completely digital and are ahead in the maturity curve compared to their peers. As a result, there is a drastic difference in adoption levels and the maturity of organisations across industries and sectors.
What are the impediments in the process of Digital Transformation in the Indian context? Is RoI the key concern?
Mindset, in my opinion, is the biggest challenge in Digital Transformation in the Indian context. There is also a challenge in expectation management across different stakeholders, right skillset who can deliver transformation programs, and also not giving the right amount of importance to adoption programs. I believe we need to evaluate a lot of additional challenges that actually hide behind the word ‘RoI’ and constantly challenge our status quo if we truly want to be drive any transformation.
As one of the main drivers of the economy, is the SME sector ready for this transformation?
The SME sector is at the centre stage of the economy and it is difficult to generalise the maturity. However several government initiatives have enabled the sector with the right ammunition and it will definitely be at the forefront of driving a truly digital Indian economy. Democratising digital has changed the game for SMEs and we are definitely ready for a positive change.
How should the SMEs prepare for Digital Transformation?
Digital has removed a major part of the entry barrier to any business and opportunity for any individual. Gone are the days when people had to be a celebrity to host a show on a TV channel. Some of the biggest celebrities are now self-sustaining, started on their own and are exclusively on YouTube. It is important to revisit the myth around digital being CapEx driven and requires a lot of funding and support, well that’s not the case. Having access to right channels, right support and the right people who can help deliver digital is going to be the key. Approaching things with a bit of pragmatism will help avoiding disasters. At the same time, all business should focus on improving customer experience. They should focus on the delta value that they are targeting to improve with any digital intervention. The most successful startups today have realized the gaps they can address faster than their counterparts. Answering ‘The Why’ would be the key before taking a shot at ‘The What’. Don’t just blindly do/think Digital just because this is a fancy thing to do.
Are privacy and cybersecurity concerns regarding the cloud exaggerated?
Digital is here and now, and with the proliferation of new technologies like cloud, it has also opened up to newer channels of threat through cybercrimes. What is important to understand is that every cloud provider is doing its best to provide the best possible security and complete privacy to their customers. As technologies have become more matured, they are now in a far matured position to manage the customer’s data and expectations. We have to realise that these providers take every possible measure and invest on a lot of research and funding to give us the right security, something which individual companies might not have the capacity to work upon. Does that mean, we can guarantee that they will never be breached? May be not, but we can always live with a probabilistic SLA of 99.9X percentage and address the more critical issues in our business.
Subhro Mukherjee is currently associated with Deloitte Consulting in the Digital space. As a trusted adviser, Subhro develops and expands strategic customer relationships to help solve Business problems through digital adoption and transformation across India and Middle East. A marketing and technology enthusiast, Subhro has completed his MBA from XLRI and BE from BESU (IIEST), Shibpur. His interests include Strategy Consulting, Digital Strategy. Go-To-market strategy development, Customer Experience design, Design Led innovation.
Note: The views expressed here are those of the author and do not necessarily reflect the official policy or position of any other organisation, employer or company.