Forbes Insights-Alfresco Study Reveals 3 Levers For Digital Transformation – Forbes
Efficient flow of information key to digital success
SAN MATEO, Calif., and NEW YORK (June 22, 2017)â A new study by Forbes Insights and Alfresco explores what separates the winners from the losers in the digital economy. âThe Great Rethink: How Digital Leaders Are Building Tomorrowâs Organizations,â is based on a comprehensive survey of more than 300 executives and interviews with top-tier executives. The report examines characteristics commonly held by organizations that continue to outperform others as they seek to establish themselves as digital disruptors in the markets they serve.
The research concludes that there are three levers business and IT leaders can employ for successful digital transformation, which catalyze a rethinking of the way organizations embrace the power of business technology:
- Design thinkingâwhere a relentless focus upon optimizing user experience and customer experience guides all business technology decisions.
- Open thinkingâin which innovation from both inside and outside the organization is encouraged to drive new initiatives.
- Platform thinkingâwhere the desired outcome of systems and solution deployment is to build an ecosystem of partners and customers that exchange capabilities and data in a manner that creates added value.
âPlatform thinking is about new business models,â said John Newton, CTO of Alfresco. âWe determined the extent to which platform thinking was prevalent by asking, âTo what extent do you open up your systems and information to third parties, and to what extent do you consume systems and information from third parties?â Just think about how Uber embeds itself into Google Maps so that when you pull up some directions, it tells you that there is an Uber three minutes away, and it can get you there in ten minutes. Thatâs real platform thinkingâthe ability to extend your reach far and wide to attract more people to the platform.â
Itâs important to note that the path to digital success is best realized by activating all three of these levers. Sixty-four percent of the Best-in-Class firms, those that excel across all three categories, report significant annual growth (defined as exceeding 10% EBITDA growth over the past three years) versus 43% of those still developing their capabilities across one or two of the three key areas.
âThis research clarifies what sets digital leaders apart from the rest of the pack,â said Bruce Rogers, Chief Insights Officer at Forbes Media. âAnd these qualities can make the difference between a thriving company and an irrelevant one.â
The survey identifies some key lessons of digital thinking that provide Best-in-Class enterprises with competitive advantage:
Best-in-Class Enterprises Are Well Ahead of Their Counterparts in Design Thinking
Best-in-Class enterprises actively pursue open thinking, which fosters innovation from both inside and outside their organizational boundaries to drive new initiatives. They are six times more likely than laggards to foresee significant increases in the flow of ideas through their organizations in the digital race.