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Digital Transformation 101 — How Will It Affect Your Business?

Digital transformation means adapting to not only new technologies that are available but also changes in customer expectations, societal shifts, and industry disruptions. Businesses, in responding to these shifts, are needing to become more customer-focused, agile, adaptive to new opportunities, and efficient in order to stay competitive. Digital transformation is how they can rise to meet these expectations at scale.

As businesses undergo digital transformation they implement technology, processes, and big data to solve traditional business problems. These digitized strategies and new business models open up the potential for new streams of income, new partnerships, and a broader reach for the brand.

The webinar will covered:
• What is Digital Transformation?
• How will it affect your business operations?
• How to adapt in the Digital Transformation era?

YouTube video: https://youtu.be/e-GjiwCzUPg

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Digital Transformation 101 — How Will It Affect Your Business?

  1. 1. Digital Transformation 101:Howwillit affectyour business? • What is digital transformation? • Some examples of transformative technologies. • What are the benefits? • What are the risks? • What are the impacts? Agenda
  2. 2. DigitalTransformationDefinition • Digital Transformation (DT or DX) is the use of new, fast and frequently changing digital technology to solve problems. It is about transforming processes that were non digital or manual to digital processes. 1https://en.wikipedia.org/wiki/Digital_transformation
  3. 3. Digital Transformation Digital Transformation can affect the individual, an organization, a process, or larger constructs such as the Internet. It can affect how we do our jobs, conduct our daily lives and how we use technology.
  4. 4. Digitaltransformationisnotnew… Mainframe Computers 1943 Personal Computers 1974 Internet Early 1970’s Digital Transformation The difference now is the speed and impact of digital transformation.
  5. 5. Challenges with Digital Transformation Rapid Change Rapid Adoption • Insufficient Due Diligence • Integration Issues • Porting “Old” to “New” Poor results from Digital Transformation
  6. 6. ExamplesofhowDigital Transformationcan providevalue
  7. 7. Block Chain & Digital Transformation
  8. 8. Block Chain
  9. 9. WhatisaBlockchain? • Database • Records Cryptographically Linked • Redundant Copies Replicated among Stewards / Nodes • Consensus Protocol – Who gets to write a new record • Ability to execute automated processes using Smart Contracts • Can interoperate with Digital Currency
  10. 10. DigitalTrustAttributesofBlockchainNetworks • Immutability • Non-repudiation • Zero-Knowledge Proof • Redundancy • Availability
  11. 11. NovelUsesfor Blockchains • Provenance – Right to Physical and Digital Assets • Supply Chain – Transactions within a Source to Eventual Destination • Stored Value – Cryptocurrency, Stored Value • Transaction Record – Financial Exchange and Accounting Records • Voting Records • Patient Records • Verifiable Credentials • Citizenship • Professional Credentials • Institution Degrees • Attainment of Social Status (Marriage, Age, Membership) • Global Legal Entity Identifier (gleif.org)
  12. 12. Verifiable Credentials in a Nutshell 13
  13. 13. The Verifiable Credential Trust Triangle
  14. 14. Displays Audit Accreditor Credential Policies & Procedures Information Technology Governance Authority TRUST F R A M E W O R K Trust Anchor Accreditor Standards Attest Criteria Audit Accreditor Auditor Accredits Applies Provides Evidence Asserts Compliance Creates Attest Guidance Evaluates Relies Upon Issues Auditor Credential Oversees Level 3 Criteria Level 2 Criteria Level 1 Criteria Credential Registry Issues Trust Anchor and Credential Registry Credentials Displays Auditor Credential Displays Trust Anchor Credential Accredits Issues Audit Accreditor Credential Creates Updates Issues Credentials Compliance Reports AssertsCompliance Applies Referential Trust Model Blockchain Referential Trust Model
  15. 15. CloudServices & Digital Transformation
  16. 16. Initiatives Business Outcomes Customer Centricity AccelerateGrowth Innovation CreateNew SourcesofValue Cost Optimization DriveEfficiency Value Proposition
  17. 17. Oneplatformformission criticalwork&businessagility Organize and gain visibility into work • Organize, execute, and ensure work is aligned with strategic initiatives Access and dynamically deploy resources • Identify, access, and allocate internal and external resources on demand Drive better business performance • Surface actionable insights into how resources impact business outcomes
  18. 18. B U S I N E S S - F A C I N G C U S T O M E R - F A C I N G B U S I N E S S M O D E L & O R G A N I Z A T I O N A L C U L T U R E Changing your business model and organizational culture to adapt to technological change in your industry • Digitize&/orautomate legacyprocesses • Optimizeoperations with data-driven decisions • Instrumentprocessestomanage risk • Digitizesupplychain management & tracking P R O C E S S & O P E R A T I O N S P R O D U C T S & S E R V I C E S • Usetechnologyto solve customer problems • Map & create digitaluserexperiences M A R K E T I N G & D I S T R I B U T I O N • Distributeproducts& servicesviadigital channels • Providecustomersupportand service via digitalchannels Benefits of Transformative Technologies like Cloud K N O W L E D G E & S E L F - S E R V I C E • Providebestpractices& digitaltools to avoid knowledgeloss and knowledge waste • Enable self-servicedataexploration, knowledge-sharing,and toolset development
  19. 19. Data transfer options API connection, push vs pull, SFTP, compiledfile andemail, etc. All datain 3rd partycloud applications What regioncountry isdata in? Complianceconcerns with GDPR, CCPA,PCI,etc. 3rd PartySub-processors What 3rd partyprocessors are cloudservices using? Control over access Integrations with Single Sign On, account provisioning, Shadow IT Easy for peoplewith corporate cardto sign up/purchase appsto start putting data in Ease of access Blessing and a curse, what makes Data Transformation great andavailable, increases the risk and needfor security controls around it. Risks of Transformative Technologies like Cloud
  20. 20. Obligations to Privacyand Disclosure Moving data around, methods andrequirements todisclose applications and locations of data. Enhanced 3rd PartyRisk Programs How doInformation Security teams adapttoadded3rd partyrisk? Application Security and Vulnerability due-diligence Addedincrease torisk surface area outside of traditional brickand mortar datacenters andinternal development Audit ScopeIncrease Addedapplications means potential addto external audit review Importance of Information Security (IS) Training Ensuring IS training is continual, updatedandengaging to aidin compliance. Impacts of Transformative Technologies like Cloud
  21. 21. Other Transformative Technologies
  22. 22. Artificial Intelligence AI is currently been utilized in various forms for workload such as: • Processing large amounts of data to farm out patterns (e.g., threat hunting or data mining) • Responding to human users in real time (e.g., chat bots) • Make real-time decisions to stop threats (e.g., endpoint protection)
  23. 23. Internet of Things Definitions vary on IoT but it is generally agreed that IoT can include the use of smaller elements of a larger infrastructure to produce larger results than would be possible otherwise.
  24. 24. Internet of Things Cars, farm resources, medical devices, smart TV’s, etc. Buildings, Infrastructure, Utilities (typically SCADA) Endpoint Devices Short range communication devices such as routers using 802.x, Bluetooth, etc. Link from end devices to external networks Gateways Cellular, Fiber, Dedicated links, etc. Link gateways to the service level Telecomms / Internet links End user, Big Data, Automation, etc.Service Level
  25. 25. Points to consider…
  26. 26. DigitalTransformationDrivers • Application of new technological advances • Need to find new solutions to current challenges • Drive to build new markets • Information sharing • Major events (e.g., pandemics driving remote working) can lead to: • Drive to do more real-world activities through digital means (e.g., online shopping) • Change to where employees work
  27. 27. Digital Transformation Controls Transformative Technologies include speed, new technology, and change as elements of their DNA… so how can this all be managed? Assess transformative technology and those providing it Manage change through established change or transformation processes Apply known standards or frameworks such as ISO38500 or ISO9001 Plan the adoption of new technology (do not just migrate current issues to new technology)
  28. 28. RoundTable: Opinionson Digital Transformation What are the impacts of digital transformation on businesses? What does the future look like for digital transformation? What is your top take-away lesson for digital transformation?
  29. 29. Summary Digital Transformation can impact your business with new technologies and new ways to use existing technologies. Digital Transformation can be a fast, game-changing experience. Adopting a structured approach to Digital Transformation is key to avoiding its associated pitfalls (e.g., using grounded standards such as ISO38500).
  30. 30. ISO/IEC 27001 Training Courses • ISO/IEC 27001 Introduction 1 Day Course • ISO/IEC 27001 Foundation 2 Days Course • ISO/IEC 27001 Lead Implementer 5 Days Course • ISO/IEC 27001 Lead Auditor 5 Days Course Exam and certification fees are included in the training price. https://pecb.com/en/education-and-certification-for-individuals/iso-iec-27001 www.pecb.com/events
  31. 31. THANK YOU ? scott@scottperrycpa.com linkedin.com/in/scott-perry-1b7a254 asenglish@hotmail.com derekrs@gmail.com linkedin.com/in/englishtony linkedin.com/in/derek-stephenson-90628b113

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  • kisipopi

    Oct. 3, 2020

Digital transformation means adapting to not only new technologies that are available but also changes in customer expectations, societal shifts, and industry disruptions. Businesses, in responding to these shifts, are needing to become more customer-focused, agile, adaptive to new opportunities, and efficient in order to stay competitive. Digital transformation is how they can rise to meet these expectations at scale. As businesses undergo digital transformation they implement technology, processes, and big data to solve traditional business problems. These digitized strategies and new business models open up the potential for new streams of income, new partnerships, and a broader reach for the brand. The webinar will covered: • What is Digital Transformation? • How will it affect your business operations? • How to adapt in the Digital Transformation era? YouTube video: https://youtu.be/e-GjiwCzUPg

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