Digital Transformation Drives Innovation and Business value
By Krishna Raj Sharma, Director& CEO - iValue InfoSolutions
DX transforms organizations to digital enterprises
The world is becoming smarter and so does the IT world. From smartphones to smart homes, technology has played a major role in advancing most areas of our everyday lives.
It’s just now our day to day life that has been affected but IT industry as well. In the past few years, we have witnessed many disruptive technology trends emerging and making headlines. Terms likes Digital Transformation (DX), Software-Defined Everything (SDx), DevOps, Blockchain, Artificial Intelligence (AI), Machine Learning (ML) became the brainstorming topics of discussion for boardrooms. Companies have alreadystarted leveraging these technologies and are becoming digital enterprise with information-driven solutions/services/products.
Businesses/companies look for digital transformation as a key strategic priority. Every CXO, irrespective of the company size, geography or industry, is leveraging DX to stay ahead of their industry practices and reforming company culture.
Digital Asset – “Data” Plays a key role in DX
We have talked/discussed about AI, ML, analytics,etc. in the beginning. Considering all the factors there is no doubt that we are generating huge volume of data on a daily basis. It doesn’t stop there, we mine the data and leverage it for generating insights to grow the business and stay ahead in the competition.
Is the data protected truly?Past cyberattacks such as WannaCry, NotPetya, Equifax breach and many more, have raised the question to all the security professionals. The impact of these ransomware attacks has led Indian enterprises to realize that security must be an integral part of the IT rather than just a technology issue. Because these types of attacks just not affect the business for a few days, months, but last up to three or more years. Besides, it’s just not loss of data, but reputation of the company as well.
Data protection really matters?
Data protection plays a crucial role in digital transformation adoptions. Thereby making changes to existing practices by reforming company culture aligned with the latest trends. An increased focus on building detection and response capabilities, regulatory changes like the EU’s Global Data Protection Regulation (GDPR) shows that there is a need to address digital business risks.
According to the latest forecast by Gartner, “worldwide spending on information security products and services will reach more than $114 billion in 2018, an increase of 12.4 percent from last year. Gartner believes privacy concerns will drive at least 10 percent of market demand for security services through 2019 and will impact a variety of segments, such as identity and access management (IAM), identity governance and administration (IGA) and data loss prevention (DLP). ”
The report has also revealed that the three drivers for security spending will be security risks, business needs and industry changes.
iValue solution offerings are relevant in the enterprise digital transformation space. Our solutions are key in the protection and management of Digital Assets and Data, Network & Application (DNA of every business).
iValue leverages DX tools to drive growth
iValue ‘s one of the key DX initiative is on Customer insights through Analytics, for its top 6000+ Customers, around Customer Life Cycle Adoption framework. We have implemented and adopted analytical based tool which helps us in developing more intelligent GTM. Customer insights from this tool are leveraged for daily call planning& targeted campaigns and helps in growing business in a structured way through deeper understanding of each of the customers and their future needs, based on analysis of last 6+ years adoption trends.
Emerging Technologies and contemporary product evolution
Solutions and Services by our technology vendors / OEMs ensures in addressing the needs and challenges of today’s customers. There is a massive transformation happening in the industry, the digital revenue has grown from 14% to 20%. We expect it to cross 25% by 2020 where software and hardware from different vendors and standards will coexist
DX the need of hour!
DX is not an option anymore, its necessity. There is no second thought that the digital transformation has the power to change organizational processes and capabilities and ultimately delivering value to customers.
Companies often think that Digital transformation is replacing and ripping of traditional systems or technologies, they used to rely on. But, it’s not true. DX helps in driving competitive advantages and at the same time makes businesses more strategized, managed or operated.
Overall, it is important that companies/organizations must see DX as an integral part of companies’ plans to lead the way in the future. They must look for the opportunities inherent in digital and there are opportunities a-plenty.
“Organizations that stay focused, observant, and embracive of tech will likely swing the odds of disruption in their favor.”