In an interview with Ashley Csaki, Seeta Hariharan, GM and Group Head of TCS Digital Software & Solutions Group, shared her thoughts on ensuring the successful digital transformation of an enterprise, and her upcoming presentation at the Knowledge@Wharton Customer Centricity Summit.
Seeta identifies some of the challenges organizations face on the path to Digital Transformation. She suggests thoughtful steps that enterprises can take to harness the power of data to better understand their customers and deliver differentiated experiences that build sustainable competitive advantage.
Excerpts from the interview:
Ashley: What do you see as the major challenge organizations face on the path to successful digital transformation?
Seeta: The biggest challenge that enterprise face today is to lay out a clear strategy for achieving the dream of digital transformation. Let me elaborate.
Customers that I speak to on a regular basis understand that transforming their business to the new paradigm of digital technologies such as Mobile, Social, Cloud and Big Data / Analytics, is mandatory not an option anymore. Customers understand the investment required is not small – on an average, fortune 1000 companies are investing approximately $120M in 2014 on digital transformation. Customers also understand that the strategy needs to be specific to their enterprise – there is not an industry wide standard or in other words ‘one size does not fit all’ – which means they need to map out their own digital journey.
Ashley: How can enterprises start to tackle this challenge in addressing Digital Transformation.
Seeta: For enterprises, the foremost reason behind undergoing Digital Transformation is their need to understand and serve each of their customers’ better which is a must for staying relevant in today’s environment.
The first step towards Digital Transformation is to determine how enterprises are using Data today. This is one of the ways to measure an enterprise’s digital maturity. There are 4 levels of Data maturity:
- At level 1: Enterprises use data merely to run their business.
- At level 2 of data maturity: Instead of just running their business, enterprises use data to manage their business.
- At level 3: Enterprises start to use data to enable innovation – develop products, capability, routes to markets to serve their end customers better.
- At level 4, which is the ultimate level of maturity, enterprises clearly view and use Data as a competitive differentiator.
The first step in Digital maturity Transformation is for companies to understand their current level of maturity (level 1, 2, 3 or 4) and then ask themselves what is their desired level of maturity. This will enable them to put together initiatives to achieve their desired state.
Click here to read the complete interview by Seeta Hariharan.