david benjamin - svp & gm @ box - it’s not about rewriting software. it’s about rewriting...
TRANSCRIPT
Orchestrating Digital Transformation:
It’s not about rewriting your software.
It’s about rewriting your company.
David Benjamin
SVP & GM, EMEA, Box
Box and Okta started because we
saw several tech trends that would
change how people work…
Mobile ubiquity
Infinite computing
Networked economy
Security redefined
These trends are changing every industry
We all know every business
Is trying to go digital
But it’s not that easy
Companies can’t just add software to a traditional product,
business model and process to “become digital”
Blockbuster
Limited to Physical Stores
Business Model Built on Late-Fees
Limited to Supply of Local Store
No Product Innovation
Mass-market Product
Netflix
Works Everywhere
No Late Fees
Infinite Supply
Constantly Improving
Highly Personalised Product
Netflix is better not because it’s a modern app,
but because it’s a fundamentally modern business
Let’s take a look at how digital transformation
is playing out in financial services
53%Don’t think their bank is
offering anything different
from other banks*
73%Would be more excited
about banking with
GOOGLE, AMAZON, or
APPLE*
*Millennial Disruption Index
Application approved – email/post
Conveyancing process – email/post/phone
Arrange valuation - home
Submit application documents - post
Review application documents - post
Provide payslips and bank statements - post
Verify identity - branch
Get Decision In Principle - phone
Digital is so often treated as a channel
for delivering existing products to customers
Meanwhile, digitally native companies are able
to rethink the very product from the ground up
Why is it so difficult to compete in the digital age?
The very things that made businesses successful
In the last era are now holding them back…
Established
partners
“Tenured”
talent
Process
efficiency
3-year product
cycles
Physical
branches
Well-defined
ways of working
Industrial-era
regulation
Silos of
information
The rules have changed, and the these are now anchors
To succeed in the digital age, every company will have
to start operating like a digital company
Digital
experiencesDigital
business
models
Digital operating
models
App
Legacy Operating Models
Waterfall processes
Vertical integration
Command and control
People-centric processes
Multi-year product cycles
IT as cost-center
Digital Operating Models
Responsiveness, agile
Extended enterprise, ecosystems
Best idea wins
Data-driven processes
Continuous innovation
IT as growth driver
Real-time work,
anywhere and anytime
Working across boundaries
and extending the enterprise
Breaking down hierarchies
to close the innovation gap
Digital is not about writing an app
Its about rewriting your company
Even if you don’t have an immediate disruptor
today, it’s not that hard to imagine...
loansInsurance Pay
Is your business be prepared?
Questions
to ask…
1 Am I using digital as a distribution channel for existing
products, or am I fundamentally rethinking them?
2 Is my IT strategy focused on making today’s business
more efficient or is it setting me up for future growth?
3 Is your organisation designed to compete with just
your peers?
If you don’t like change, you are going
to like irrelevance even less
Thank you!