The document discusses preparing a business for digital transformation. It begins by explaining that traditional methods are becoming outdated and businesses must change or die. It then defines key terms like digitization, digitalization, and digital transformation. Digital transformation involves using digital technologies to modify business processes and customer experiences. The document also notes that while $1.3 trillion was spent on digital transformation in 2018, $900 billion was wasted due to factors like having the wrong mindset and flawed organizational practices. It concludes by providing seven steps to a successful digital transformation, such as adopting an exponential mindset, building digital capabilities, and creating a broad digital roadmap.

1. PREPARING YOUR
BUSINESS FOR
DIGITAL TRANSFORMATION

2. OUTLINE
● INTRODUCTION
● UNDERSTANDING DIGITAL TRANSFORMATION
● WELCOME TO THE DIGITAL AGE
● WHY MOST DIGITAL TRANSFORMATION PROJECTS FAIL
● STARTING YOUR DIGITAL TRANSFORMATION JOURNEY

3. INTRODUCTION
Lunch is served

4. IF YOU ARE NOT ON THE TABLE
THEN YOU ARE ON THE MENU

5. ● Traditional methods are failing very fast.
● Traditional businesses are threatened.
● What worked yesterday will not be
working today or tomorrow.
● To remain relevant your business has to
CHANGE or DIE!
YOUR WORLD HAS CHANGED
OLD WAY
NEW WAY

6. ASKING TOUGH QUESTIONS
● What are the threats to my
industry/business?
● What is my Business Value Proposition?
● How effective is my Business Model?
● How prepared are we for the Future?

7. “UNDERSTANDING DIGITAL
TRANSFORMATION

8. DIGITAL TRANSFORMATION
● DIGITIZATION
● Digitization is the move from analog to digital.
● Not so long ago, businesses kept records on paper
before computers went mainstream. But now, most
businesses have started converting all of their
records on paper to digital computer files.
● This is called digitization: the process of converting
information from analog to digital.

9. DIGITAL TRANSFORMATION
● DIGITALIZATION
● Digitalization is using digital data to simplify how you work.
● Digitalization isn’t about changing how you do business, or
creating new types of businesses. It’s about how faster and
better your data is now instantly accessible and not trapped
in a file cabinet somewhere in a dusty archive.
● The process of using digitized information to make
traditional ways of working simpler and more efficient is
called digitalization.

10. DIGITAL TRANSFORMATION
● DIGITAL TRANSFORMATION
● Digital Transformation is the process of using digital
technologies to create new — or modify existing — business
processes, culture, and customer experiences to meet
changing business and market requirements.
● Digital transformation begins and ends with how you think
about, and engage with, customers.
● Digital Transformation is about reimagining your business in
the Digital Age.

11. “ WELCOME TO THE
DIGITAL AGE

12. THE DIGITAL AGE
YOUR WORLD RIGHT NOW

13. THE DIGITAL AGE

14. THE DIGITAL AGE

15. THE DIGITAL AGE

16. COVID-19 AND
DIGITAL COMPANIES
● Zoom Video Communications
● Zoom moved from 10 million daily meeting
participants in December 2019 to seeing 300
million by April 2020.
● Share price increase 130% since the
beginning of the year.
● Market value has risen from $16.1 billion in
January 2020 to $40.5 billion in March 2020.

17. COVID-19 AND
DIGITAL COMPANIES
● Amazon
● Amazon.com's quarterly market
cap increased from USD 920,224 Million in
Dec. 2019 to USD 986,558 Million Mar. 2020 .

18. COVID-19 AND
DIGITAL COMPANIES
● Netflix
● Netflix recorded 16million subscribers in the
first quarter of 2020.
● Netflix's market cap for the quarter that
ended in Mar. 2020 was $169,911 Mil. from
$117,285 Mil in Sep. 2019.

19. “ WHY MOST DIGITAL
TRANSFORMATION PROJECTS
FAIL.

20. ● Intention vs Reality.
● In 2018, $1.3 trillion was spent on Digital
Transformation globally.
● Out of which $900 billion was wasted.
WHY DT PROJECTS FAIL

21. WHY DT PROJECTS FAIL
1. Wrong mind-set to Digital Transformation
● Often times, team work is often omitted, but
DT is all about people not technology.

22. WHY DT PROJECTS FAIL
2. Flawed Organisational Practices.
● Lack of proper record or data to inform
decision making.

23. “ STARTING YOUR DIGITAL
TRANSFORMATION JOURNEY.

24. STARTING YOUR DIGITAL
TRANSFORMATION JOURNEY
1. Figure out your business
strategy before investing
in Digital Transformation.
Tie broader business
strategy to the right
technology.
2. Leverage insiders,
identify internal
resources
3. Design customer
experience from
inside in.

25. STARTING YOUR DIGITAL
TRANSFORMATION JOURNEY
4. Address employees’ fear
of change.
5. Adopt Agile culture of
reiteration and
adaptation.

26. 7 STEPS TO DIGITAL
TRANSFORMATION
1. Adopt an exponential mindset
Digital businesses are structured and managed
differently than your traditional business. The
board and executive management team will
need education to gain comfort with the new
mindset required to build, operate, and grow a
digital business.

27. 7 STEPS TO DIGITAL
TRANSFORMATION
2. Build and recruit digital capabilities:
The same talent and infrastructure that powers
your company’s current operations are not likely
to be suitable for a digital platform and
networked future. You will need employees with
new skills like machine learning and data
science. Your infrastructure will also have to be
adapted to provide the tools your employees
need to grow into a digital world.

28. 7 STEPS TO DIGITAL
TRANSFORMATION
3. Create a broad digital roadmap:
Small-scale digital initiatives don’t form a
cohesive, strategic roadmap. Start with a clean
sheet and create the digital roadmap your
company needs to succeed, regardless of which
projects are already underway. Don’t be afraid to
kill or deprioritize projects that aren’t aligned
with a new business model.

29. 7 STEPS TO DIGITAL
TRANSFORMATION
4. Inventory company "assets" and activities:
There are likely already passionate employees at
your company who have already begun small-
scale digital initiatives. You probably also have
valuable intangible assets that you don’t actively
manage or measure. Inventory everything, assess
its fit with your future digital strategy, and
reallocate resources from uncertain projects to
strategically important ones.

30. 7 STEPS TO DIGITAL
TRANSFORMATION
5. Apply business model, design thinking to
create your future business model:
All too often, we think we can build and grow a
digital business by selling the same products
and services to the same customers via the same
channels with a few minor tweaks. Adopt a
design thinking approach to design your new
digital business model that meets the needs of
today’s digitally savvy customer.

31. 7 STEPS TO DIGITAL
TRANSFORMATION
6. Build digital assets
Many “traditional” businesses often possess or
could easily access valuable digital assets. Figure
out which ones your company could build,
partner, or acquire, and begin transitioning from
purely physical assets to more valuable and
scalable digital assets.

32. 7 STEPS TO DIGITAL
TRANSFORMATION
7. Adjust the org structure—start small, then
go big:
The changes above will require changes to your
organization’s structure. While politics or talent
gaps may prevent you from making major shifts,
make the changes you can make, no matter how
small. As momentum and comfort builds, you
can add the bigger changes later.

33. THINK FAST
● Big companies don’t
beat small companies
● Small companies don’t
beat big companies
● Fast companies beat
slow companies
Fast companies have
slow companies for
Breakfast, Lunch &
Dinner!

34. THANK YOU
FOR YOUR
ATTENTION

35. Tel: 08075767797 Email: learning@icentra.com Web: learning.icentra.com