A famous technologist said that in the next 100 years, we won’t see 100 years of technological progress, but the equivalent of 20,000 years of advances.*
Businesses will find that the base of technology and customers they have built over the years might crumble faster than they expected, with newer entrants rushing in and taking their place. This is affirmed by the fact that 93% of IT directors have a digital strategy, yet only 15% believe they are ready to implement it.*
This means that technological progress is fast, and daunting.
What it also means, is that it is full of opportunity.
Today, information and communication technology has given businesses the opportunity to do more than develop a sustainable competitive advantage. ICT is now helping businesses transform the way they work dramatically—with both internal and external stakeholders, by transforming their business.
How are they doing this?
1. By changing business models
Enterprises here will comprise a tiny core staff which will draw in external resources whenever those specific skills can’t be automated. The challenge here would be to get these external resources in line with the working of the organisation, and collaborating efficiently across multiple locations without letting security and the integrity of the work suffer.
By listening and innovating
By keeping their ears to the ground and listening to their customers, businesses will gain crucial insights which can help them grow. This will require technology for deep listening, and the capabilities to harness the data and suggestions which are unearthed. For example, an Indian tea manufacturer with diversified interests found out that its products were not being distributed because of a sugar supply deadlock, helping the company resolve the issue. The problem came to light only because the company was actively listening to its customers.
By ending isolated functioning
For companies to be agile, they will have to break the silos that keep key personnel isolated from each other. This will be essential to tap into the expertise of people across verticals and create ideas that are holistic and effective. By breaking these boundaries, companies will find that their solutions are not limited by roles, but built by collaboration.
If you’d like to understand how Vodafone’s Total Communications Solutions can help your business break boundaries and become ready for the future,
*Source: Breaking Boundaries – The Challenge of Technological Disruption