The fact that the world is becoming digital is no longer really newsworthy. It’s a boardroom topic for most firms. As it should be. You only have to open your eyes to see the impact that digital touchpoints have on business. As I sit here writing this blog, I am in the departure lounge of Brussels Airport en route to Stockholm for the last leg of a presentation roadshow. I’m surrounded by travelers on smartphones, tablets, and a few laptops. Almost everyone (with the exception of a sole individual filling in a crossword) is using a digital device.
Firms are beginning to acknowledge this digital-first culture. We’ve been presenting to audiences in cities all around Europe, talking about Transforming Into A Digital Business In The Face Of Disruption. The overwhelming feedback from these presentations has been that firms are beginning to realize that digital is critical to their future success (and in some cases, their very survival). This spans B2C and B2B. But in many cases, the executives we speak to say their firms don’t have a digital strategy, and even if they do, they doubt their capability to deliver it.
It’s clear — companies need help to make sense of what digital means to them.
In this age of the customer, there is nothing more important than the effective and safe operation of our financial system. Trillions of dollars move around the world because of a well-oiled financial services system. Most consumers take our financial services system for granted. They get paid, have the money direct deposited into their account, pay bills, use their ATM card to get cash, and put family valuables in the safety deposit box. The consumer’s assumption is that their cash, investments and valuables are safe.
Symantec’s 2014 CyberWar Games set out to prove or disprove how correct are these assumptions. Symantec’s cyberwar event is the brainchild of Samir Kapuria, a Symantec vice president within the Information Security Group. Symantec structures the event as a series of playoff events. Teams form and compete, earning points for creating and discovering exploits. Out of this process, the ten best teams travel to Symantec’s Mountain View, California headquarters to compete in the finals.
Your company is likely to face an extinction event in the next 10 years. And while you may see it coming, you may not have enough time to save your company.
Business leaders don't think of digital as central to their business because in the past, it hasn't been. But now your customers, your products, your business operations, and your competitors are fundamentally digital. While 74% of business executives say their company has a digital strategy, only 15% believe that their company has the skills and capabilities to execute on that strategy (see figure). These are just some of the findings from our latest research (Forrester clients click here).
For the past few years, companies have been bolting “digital” onto their existing business like teens paint go-fast stripes onto their cars. “Look, we’re digital” is the message CEOs want to send to investors. But the piecemeal strategy of bolting digital channels or methods onto the business is no longer sufficient. Instead, you must think of your company as part of a dynamic ecosystem of value that connects digital resources inside and outside the company to create value for customers. To do this, you must fully harness digital technologies, both to deliver a superior customer experience and to drive the agility and operational efficiency you need to stay competitive.
Asia Pacific (AP) organizations have historically been slower to outsource critical information security functions, largely due to concerns that letting external parties access internal networks and manage IT security operations exposes them to too much risk. They have also not fully understood the real business benefits of outsourcing partnerships from a security perspective. However, this trend has recently started to reverse. I have just published a report that outlines the key factors contributing to this change:
Skill shortages are leading to higher risk exposure. Scarce internal security skills and a dearth of deep technical specialists in the labor pool are ongoing challenges for organizations around the world. This not only raises the cost of staffing and severely restricts efficiency, it may also increase the costs of security breaches by giving cybercriminals more time to carry out attacks undetected; at least one study indicates that the majority of reported breaches are not discovered for months or even years. The early adopters of managed security services in AP tell us that external service providers’ staff have more technical knowledge and skill than their internal employees.
Back in July 2012, I authored a post about Pitney Bowes and the company’s focus on reinventing itself. At that time, the company had a great portfolio of software assets and a good overall market message — but its market approach was fragmented, its solutions were not integrated, and it was a difficult company to figure out from the perspective of a customer or prospect. About 15 months ago, Pitney Bowes appointed Marc Lautenbach as its new CEO to address these issues.
Fast forward to today. Last week I had the opportunity to spend some time with Marc while he was in Sydney. In his brief time with the company, he has sorted out a number of the challenges I was referring to — including giving the firm a laser-sharp focus on a few key areas, bringing traditional assets into the digital world, refining its sales model, and leveraging those areas in which it has competitive advantage.
Marc sees PB’s main opportunities in the following areas:
eCommerce. PB has the ability to classify assets for all types of commerce providers and ship them anywhere around the globe.
Location-based solutions. Not only does PB have great mapping information, but it can also integrate data from any domain and apply its own algorithms to make that data valuable.
Printers, sorters, meters, and inserters. This isn’t a fast-growing business, but it’s a big one — and one that’s still important to many companies. It’s also a segment in which PB has some unique capabilities.
Coming back from the SAS Industry Analyst Event left me with one big question - Are we taking into account the recommendations or insights provided through analysis and see if they actually produced positive or negative results?
It's a big question for data governance that I'm not hearing discussed around the table. We often emphsize how data is supplied, but how it performs in it's consumed state is fogotten.
When leading business intelligence and analytics teams I always pushed to create reports and analysis that ultimately incented action. What you know should influence behavior and decisions, even if the influence was to say, "Don't change, keep up the good work!" This should be a fundamental function of data govenance. We need to care not only that the data is in the right form factor but also review what the data tells us/or how we interpret the data and did it make us better?
I've talked about the closed-loop from a master data management perspective - what you learn about customers will alter and enrich the customer master. The connection to data governance is pretty clear in this case. However, we shouldn't stop at raw data and master definitions. Our attention needs to include the data business users receive and if it is trusted and accurate. This goes back to the fact that how the business defines data is more than what exists in a database or application. Data is a total, a percentage, an index. This derived data is what the business expects to govern - and if derived data isn't supporting business objectives, that has to be incorporated into the data governance discussion.
At Mobile World Congress 2014 in Barcelona, SingTel CEO Chua Sock Koong was reported as “call[ing] on Australian regulators to give carriers like Optus the right to charge rivals WhatsApp and Skype for use of their networks or risk a major decline in network investment.”
With the telecommunications industry unable to monetize over-the-top (OTT) traffic, telcos will struggle to find the funding they need to improve their infrastructure — meaning that network quality could deteriorate. Chua did concede that telcos should work toward partnering with OTT players.
What It Means
SingTel’s argument runs over familiar ground, similar to the ongoing net neutrality debate in the US. My colleagues suggest that telcos will offer tiered access at tiered pricing to OTT players in the future, charging higher prices for better connection speeds and greater data traffic. While I don’t doubt this, price-sensitive Asia may be a harder nut to crack; telcos here run the risk of customer churn by raising service prices.
Aside from speeding up its rate of service innovation, SingTel should:
We all use a multitude of personal cloud apps, both at work and at home. But getting meaningful tasks accomplished can be frustrating, particularly on mobile, as files, data, and workflows fragment across the various services we use. Take for example finalizing and signing a contract on iOS. This would involve fetching a document from email, annotating it, signing it, and sending it back to the client. Today, no one app can do all that, and iOS and Android offers very limited data-interoperability functionality with both Open In and Android Intent features.
We’re seeing three types of personal cloud startups emerging to offering capabilities to link across apps, services and devices:
Access: search, unified visibility, and portability for files, photos, and information.Younity networks and delivers content across your devices using P2P technology. And Otixo facilitates data interoperability across cloud services within a virtual file system-type interface. Simply drag and drop to move files from one service to another.
Interconnection: tasks and data flows that use info from multiple services.Ink facilitates workflows as an alternative to iOS’s Open In.
Last week I attended the RSA Conference (RSAC) Innovation Sandbox for the first time. Not only was I an attendee, but I also was fortunate enough to host a CTO panel during the event. For those that aren’t aware, the Innovation Sandbox is one of the more popular programs of the RSAC week. The highlight of the Innovation Sandbox is the competition for the coveted “Most Innovative Company at the RSA Conference” award. This is basically the information security version of ABC’s Shark Tank. If you want to learn about the up-and-coming vendors and technologies, this is one place to do it. To participate, companies had to meet the following criteria:
The product has been in the market for less than one year (launched after February 2013).
The company must be privately held, with less than $5M in revenue in 2013.
The product has the potential to make a significant impact on the information security space.
The product can be demonstrated live and on-site during Innovation Sandbox.
The company has a management team that has proven successful in the delivery of products to market.
Despite an increasingly crowded market of cloud applications, salesforce.com is still very much the “darling” of the SaaS world. Some evidence of the provider’s continued fast-paced growth?
1) Strong stock market performance. On June 12, 2013, when salesforce.com announced the completion of its acquisition of ExactTarget, salesforce.com stock (CRM) was trading at $37.58. On February 19, 2014, it closed at just over $63, a gain of 67.7% over that period (for reference the NASDAQ Composite did roughly 25% over the same period).
2) External accolades for its ability to innovate. In August, salesforce.com was names by Forbes as the world’s most innovative company for the third year running.
3) Steady flow of new products and editions. In November, salesforce.com announced its new Salesforce1 Service Cloud – a platform to be used for cloud-based application development. This product represents a significant improvement in the mobile salesforce.com experience which will ideally aid them in meeting their aggressive financial predictions. Not long before that, salesforce.com had announced Social.com, in April 2013.
4) Revenue growth. Salesforce.com’s recent fiscal results (Q3 2013) conservatively project revenue growth of more than $1 billion for both this year and next ($4.05 billion for FY 2014 and $5.15 billion for FY 2015, compared to $3.05 billion in FY 2103).
So, it is no surprise then (in light of salesforce.com’s massive scale and continued expansion) that we continue to receive a heavy volume of Inquiries into Forrester about how to negotiate with salesforce.com.