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Round Table - Digitalization of Products

Round Table - Digitalization of Products

CIO

Taken from CIO Berlin Event, Thursday 13th June 2019

Panel: 4 CDO, 2 CTO, 2 IT Director and 2 CIO 

 

Today, I had the chance to meet some of the brilliant minds from the leadership team of Europe's top companies. The digital transformation across sectors seems to face the same challenges but everyone acknowledged there is plenty of opportunity to create valuable business services in their respective sectors. I also had the privilege to moderate a round table chat on "Digitalization of Products". 

 

"Digitalization is the use of digital technologies to change a business model and provide new revenue and value producing opportunities" - Gartner. 

 

Primarily digitalization of products in many firms are focussed on either: 
1. User experience (e.g. Personalization). Most companies are working on creating Connected Products, Multichannel interaction and Customer community linking in this space. 
2. Operational efficiencies (e.g. APM, Predictive Maintenance). The focus has been to build their own industrial platform in the cloud that will enable them to create those highlighted differentiating capabilities. 

 

The core competencies to build successful digital transformation of course depends on People, Process and Technology. As with many speakers' organization, it was clear that having agile processes and deploying right people with necessary skillset (being agile) for being successful in this journey. Technology was rarely spoken although panel voted for having data fabric, multi-cloud and choosing the right technology for the right product was a no-brainer. 

 

Of course the pain point in almost organization was Integration of data. It was evident how small, medium and big sized companies heavily rely on data quality of their ERP system. Having an agile and open source ERP would benefit them but they could not find any replacements for the market leader in the space. CIO/CTO are expecting conversational AI being part of their data driven insights. 

 

Ending the panel with success criteria to benchmark digital transformation, revenue is clearly a winner. If the journey does not create new business opportunities or revenue propositions then of course the strategy and execution took wrong direction. Many of the panel members clearly wanted to filter out the "change resistant workforce" at the same time provide with opportunities to be heard. Organizational workforce must understand that change is coming whether they like it or not. If you cannot innovate then there are new set of minds waiting to sweep away our future with digital products. 

 

Written by Gopi Krishnamurthy, Architect - Digital Technologies & Services- Bombardier

 

(The views expressed in this blog are those of the writer and not of Bombardier Transportation or its partners.)

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