Phy-gital Roundtable: Breakfast Roundup from Germany and Netherlands

02 May '15 | Debjyoti Paul

German Shoppers: Meet Them in the Fast Lane to Phy-gital

15 January '15 | Ralf Reich

Shoppers Will Share Personal Information (But They Don’t Want to be “Friends”)

15 January '15 | Anil Venkat

Modernize or Perish: Property and Casualty Insurers and IT Solutions

14 January '15 | Manesh Rajendran

Benelux Reaches the Phy-gital Tipping Point: Omnichannel Readiness is Crucial

13 January '15 | Anil Gandharve

The New Omnichannel Dynamic: Finding Core Principles Across Industries

13 January '15 | Debjyoti Paul

Technology does not disrupt business – CIO day 2014 Roundup

02 December '14 | Anshuman Singh

Apple Pay – The Best Is Yet To Come

02 December '14 | Indy Sawhney

Digital transformation is a business transformation enabled by technology

01 December '14 | Amit Varma

3 Stages of FATCA Testing and Quality Assurance

06 October '14 | Raman Suprajarama

3 Reasons why Apple Pay could dominate the payments space

18 September '14 | Gaurav Johri

Beacon of Hope: Serving Growth and Customer Satisfaction

05 August '14 | Debjyoti Paul

The Dos and Don’ts of Emerging Technologies Like iBeacon

30 July '14 | Debjyoti Paul

What You Sold Us On – eCommerce Award Finalist Selections

17 July '14 | Anshuman Singh

3 Steps to Getting Started with Microsoft Azure Cloud Services

04 June '14 | Koushik Ramani

8 Steps to Building a Successful Self Service Portal

03 June '14 | Giridhar LV

Innovation outsourced – a myth or a mirage or a truth staring at us?

13 January '14 | Ramesh Hosahalli

What does a mobile user want?

03 January '14 | Gopikrishna Aravindan

Digital Transformation Explained – Collaborative, Insightful, Futuristic

Posted on: 13 September '13

Mix one part passion, one part vision and two parts practitioner who is engaged in defining and executing strategic initiatives. The result will be a simple but powerful recipe for transformation.

While digital transformation is a topic that is often discussed, the broader goals are often lost in:

  1. Discussions about its constituent dimensions – digitization, e-enabling internal processes, document management, mobility, and collaboration among others
  2. A listing of exciting business capabilities that could be, or have been achieved in other industries (e.g. P&G did X, so why can’t insurance)

By isolating specific use cases, both these approaches only partially serve the purpose of building out a roadmap to digital transformation.

Our webinar on digital transformation in insurance, led by Ashish Srivastava took a different, and a more holistic view.  Ashish is an expert in digital business in the insurance sector for Mindtree, and essentially laid out three pillars that span the entire organization and the complete value chain:

  1. Collaborative – Unified consumer and stakeholder experience
  2. Insightful – Building better decision-making capabilities to enable personalized experience and result oriented outcomes
  3. Futuristic – by being the above two, companies should constantly focus on innovating

These fundamental pillars encapsulate customers (and segments) and stakeholders, channels, product portfolios, business functions, information orchestration, data and analytics and innovations for the future, thus enabling a bird’s eye view of the organization.

These pillars are then mapped against three capability stages:

  1. Foundational – Get the basics right and set up for the transformation correctly
  2. Enable and Scale – Begin to achieve the business and technology priorities
  3. Innovate – keep up with ease and lead with agility

By assessing your capabilities against these pillars and against these capability stages, the as-is picture clearly emerges while highlighting the gaps and priority areas to focus on.

Some interesting questions came up:

  • We already have a significant and pretty innovative digital presence. What does digital transformation mean for us?

Congratulations! But it’s time to evaluate two aspects. First, evaluate against the three stages to see how mature your tech and operational processes are. Generally, in a fast-paced innovation environment, there is significant refactoring to be done, which gets ignored as time passes. While the tip of the iceberg may shine, the rest may not. Secondly, evaluate how the customer views you. Do they work in silos with one part of your product portfolio, or do they receive a treatment based on who they are and what they aspire to achieve (explicit and implicit)?

  • How can we align the digital roadmap to the pace, at which needs are changing?

True. This is indeed a fast paced world with disruptive changes occurring almost every day, be it new global rollouts, product changes or creation of new services. The key is a service oriented, platform based approach that allows you greater agility to change.

  • What’s the one takeaway?

Actually, there were two. First, even as you build a vision and execute the roadmap, achieving quick wins is extremely important. Quick wins provide you the ability to test waters and respect boundaries. Secondly, create a council of key leaders who collaborate and engage often to review progress and constraints. This helps to bring down boundaries, and to champion the change needed through greater buy-in.

Mindtree Blog Archives

Mindtree blog Archives are a collection of blogs by various authors who have independently contributed as thought leaders in the past. We may or may not be in a position to get the authors to respond to your comments.