Digital transformation is an umbrella term that describes the application of digital technologies to processes, goods, and assets to improve efficiency, boost customer value, manage risk, and navigate through new income creation prospects.
How Businesses Can Be Inspired To Follow Digital Transformation Success Stories
The transformation and exploitation of new business strategy possibilities require digital talent and competencies.
Technology is not a choice in this new environment but rather a core business strategy that must be integrated into every aspect of an organization.
Small and medium enterprises must fundamentally modify their function, accept societal shifts, and reconsider their established order to foster adaptation.
Benefits of going digital as a startup or SME include better cooperation inside and across organizations, more personalized customer interaction, greater staff innovation and productivity, and more accurate data insights.
To learn more about the advantages, continue reading this article for first-hand digital transformation success stories.
Inspiring Digital Transformation Success Stories
Earlier this year, Contino collaborated with Tech London Advocates, an independent group of tech executives, specialists, and investors, to compile a list of people who are driving true innovation within their organizations. These are their success stories.
Neil Drennan at 10x Future Technologies
In early 2018, Neil joined 10x Future Technologies (10x) to transform how banks are planned and built. Years of expertise creating large-scale cloud infrastructure at Amazon, Sky, and the BBC were among his qualifications.
His primary task was to design and implement a revolutionary cloud-native banking platform that delivers a full range of robust, scalable financial services on the cloud.
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Neil’s strategy emphasizes future resilience and fault tolerance. He prioritizes these non-functional components first, ensuring that the company would build any subsequent services and additions on sturdy foundations.
To achieve his objectives, he divided the basic platform architecture into discrete ‘domains’. He then reverse-engineered the optimal team structure from those domains, inspired by domain-driven design.
This was successful in establishing a smooth exchange of information and ensuring accountability throughout the company.
The platform’s capabilities allowed clients to bypass technical obstacles, helping them launch new business models faster and with significantly lower costs.
Anne Marie Neatham at Ocado
Anne Marie has spent the past two decades with Ocado, where she has witnessed the company’s transformation into a sophisticated technological firm.
She currently oversees technical collaborations and investments in areas such as vertical farming and robots.
With a foundation in software development, Anne Marie’s initial responsibility was in business support systems, where she assisted in the design and creation of Ocado’s introductory foodstuff delivery platform.
After finding off-the-shelf software to be too restrictive, they developed their own software from scratch. They became the first firm to establish that the groceries delivery concept could be successful.
Anne Marie was part of the leadership team that decided on Ocado’s most significant jump to date in 2014. In that time, they’re platforming their whole software stack, a project that took 13 years.
Thousands of self-monitoring robots travel along a complex grid, delivering 50,000 distinct goods to delivery locations where they are packaged and sent to consumers.
At the same time, the team constructed new, highly automated warehouses. Ocado’s Smart Platform is years ahead of the competition and is being pushed out for grocery stores from Japan to the United States.
Suren Siva at Credit Suisse
Suren began working for Credit Suisse ten years ago.
He spent his first five years as a Chief Operations Officer on the trading floor before taking his current position as Director of Strategy and Innovation, where he searches for opportunities across the company that are fertile ground for digitalization.
His approach is exceptional in that he promotes industry participation. Suren has aggressively built ties with his peers to transform an extensive industry discussion.
The bank has partnered with several FinTech organizations to automate operations, monetize data, and use the potential of artificial intelligence and machine learning.
Suren examines the entire value chain, looking for transformation possibilities, be they modest tweaks to differentiate services in the market or more significant adjustments to develop business models.
He specializes in embracing the ideas that FinTech partnerships can contribute to expediting Credit Suisse’s own evolution once these possibilities have been discovered.
Carola Wahl at AXA
Carola has a keen understanding of the many variables that must be considered while implementing a large-scale digital transformation. Her strategy is based on maintaining a sense of balance.
Infrastructure, data, and business tools must be paired with the softer components of leadership, attitude, and individuals. Likewise, a long-term approach must compete with short-term, adaptable, and agile delivery plans.
The core strategy is reframing technology as a business problem and bringing the two together as much as feasible.
Carola and her team created the fundamental business strategy for AXA, with an emphasis on digitizing the core business and developing innovative ecosystems in the health and mobility sectors.
She ensured that data was at the heart of both of these initiatives, championing novel data use cases.
To accomplish this, she created a new team of about 30 data scientists who were physically separated across the organization, breaking down the barriers between IT and the business.
Overall, AXA’s data projects have regularly brought in more than $50 million each year, well above expectations.
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