Moving Further Ahead with Digital Transformation
Microsoft recently posted a blog entitled, “6 Technology Trends Shaping Digital Transformation“. In this article they shared results from Constellation Research. They defined digital transformation as “the methodology in which organizations transform and create new business models and culture with digital technologies.”
Constellation Founder and Principal Analyst Ray Wang, says that these business models are creating a winner takes all market.
In Wang’s on-demand webinar, he shares research that more than half of the Fortune 500 companies since the year 2000 have been merged, acquired, gone bankrupt or have fallen off the list. And much of this change can be attributed to the creation – or not – of new digital business models. “What we are seeing in every industry,” says Wang, “digital leaders are taking 40 to 70% of the overall market share and 23 to 57% of profits. In some places, if there are only one or two major players, they’re taking up to 77% of the profits.”
There is no doubt that the marketplace has been undergoing drastic change. At Vertilocity, we have been helping our customers survive and thrive by changing their business models. We know that today, subscription models are the norm, what happens after the sale is just as important as making the sale, and saving time and creating efficiency is what is important.
Some of the major players in bringing about this change are mobile, social, cloud big data and unified communications. With a strong emphasis on cloud computing which allows us to have access to all technology anywhere, at any time and from any device. Cloud technology is what gives us the power to change to these new business models, as Vertilocity has been working with our customers on.. and Wang agrees!
In this blog, Microsoft shares Wang’s ideas of what six technology trends will be coming down the pike and affect the next shift. These include, IoT, 3D Printing, augmented reality/virtual reality, robotics, block chain technology and artificial intelligence/cognitive. Wang believes that the AI/cognitive piece will have the biggest impact moving forward. For example, Cortana, as you speak to your device, it learns from you and can become a very powerful tool.
However, one major point that was made in this blog is that we start thinking about the technology aspect of everything and when we look towards a change, we think that needs to come first. But, in all actuality, the business model needs to change first, and then you need to look towards the proper technology to support the change.
As a company who has been actively working on this with our customers for many years now, it’s nice to read an article that agrees with our approach. At Vertilocity we pride ourselves on not just supplying the technology, but being a business partner to our customers and helping them reach their goals each step of the way. We don’t just sell them a product to make a sale like some others might, but we consult and find the best model and then the proper technology to see that model through.