Thursday, 9 July 2015

Digital Transformation is not an IT Project but a Business Imperative, Say Experts at Frost & Sullivan’s Digital Enterprise Transformation Summit 2015

Ubiquity in High-speed Broadband, Business Models, Regulations, and Technology Adoption Need to go Hand-in-Hand to take Indian Enterprises to the Next Level in Digital Transformation
Frost & Sullivan successfully hosted its inaugural edition of the “Digital Enterprise Transformation Summit 2015” on June 18 in New Delhi. The Summit also witnessed Frost & Sullivan’s industry thought leaders and expert analysts deliberate on exemplary digital strategies for today’s businesses and the probable course that can be adopted by the decision makers. 
At the Summit, Vidya S. Nath, Director, Digital Media, Frost & Sullivan, talked about the technology requirements for an enterprise in India and its fast changing quality. She said, “Increasingly, companies are looking at business imperatives to carve their technology and digital strategies and ‘digital transformation’ is resonating among all enterprises. It has been important for all CXOs to look technology adoption in line with the needs of each department and function.” 
In his keynote address, Mukul Krishna, Senior Director, Digital Media, Frost & Sullivan, stressed on the importance of a unified approach to digital transformation in enterprises. He elaborated upon trends of device proliferation, content portability in multi-screen environments, customer expectation of seamless experience, content management, data security, metadata, and analytics. Aniruddha Paul, CIO, Kotak Mahindra Bank, presented his perspective on an ideal digital strategy for the enterprise where he spoke on digital strategies within the banking sector. He conveyed that banks have leveraged omni-channel communication and services, as well mobile banking successfully in the recent past, but in many cases, digital transformation is considered on an ad hoc basis and as another IT project. To succeed, organizations need to “tool themselves digitally right” and analytics can reshape the way banks form their marketing and services strategies by offering targeted and highly personalized customer experiences. 
The panel discussion on ‘Automating Your Digital Workflow on the Cloud’ the panelists discussed the importance of cloud in the digital strategy of organizations and outlined the present scenario of cloud-based operations in India and the challenges. They concurred that India is still in a nascent stage in cloud adoption and enterprises are moving only their non-critical applications for testing on cloud before migrating completely. Fast deployment and agility are the two most noticeable benefits of cloud adoption and with high data proliferation due to digitization of processes, cloud deployments will help in quick analysis to derive actionable insights. At the same time, CIOs today are evaluating the option to roll back to legacy infrastructure in case of failures and security breaches in cloud adoption. 
The major drivers for mobility were discussed in the session on creation of an enterprise mobility strategy for a traditional industry, which included business requirements, improved user experience, and improved productivity. 
In the Mega Trends and Digital Enterprise Transformation Workshop, Frost & Sullivan's Joe Fristensky, Senior Partner and Head ICT, Global, presented on the Mega Trends such as growing connectivity, wearables, e-retailing, and smart cities, etc. and guided the audience to brainstorm on how these will have a disruptive impact on their industries and lead to their digital empowerment. 
The panel on advanced analytics moderated by Mukul Krishna discussed the various applications of analytics to specific industry domains. The panelists were in agreement that data analytics will create ‘disruption’ in their industries and if implemented effectively, it can provide significant benefits in cutting operational costs, for fraud detection, and for providing highly targeted services to customers. It was brought forth that analytics will be the key factor in digital transformation, not just to improve business processes, but also to improve customer experience in any industry. 
At the Summit, Frost & Sullivan recognized significant achievements of companies for their initiatives in digital transformation, mobility, and related activities. The India Digital Enterprise Transformation Awards declared winners under nine award titles. 
NextGen and Softline were the Gold Partners and Tata DoCoMo was the Silver Partner for this Summit, while Cable Quest, was the media.

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