In “Unleash Your Digital Business”, I highlight the need for all companies to embrace digital business as a new business model – one in which the nature of the value exchange with customers is fundamentally changed. Since then, CIOs frequently asked me what they should be doing to help their firms become a digital business.
The answers lies in the difference between Business Technology (BT) and Information Technology (IT). BT focuses on the systems, technologies, and processes to win, serve, and retain customers. Whereas IT focuses on the systems, technologies, and processes to support and transform an organization’s internal operations. To become a digital business CIOs must adopt the BT agenda.
Our research on digital business highlights the need for the organization to focus on six core digital strategies that drive digital customer experience and digital operational excellence in support of customers. Each of these strategies is an integral component of the CIOs BT agenda:
- Digitize the end-to-end customer experience
- Digitize products and services inside the customer’s value ecosystem
- Create trusted machines
- Digitize for agility over efficiency
- Drive rapid customer centric innovation
- Source enhanced operational capabilities within a dynamic ecosystem