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Beyond Digital Transformation: A Mandate for Disruptive Innovation in the Age of Amazon & CVS Health
The document discusses the role of innovative technology in driving disruptive change within organizations, emphasizing the need for agility and effective strategies in digital transformation. Key speakers share insights on achieving growth and adapting to market changes through advanced analytics and modern technology implementations. Strategies include fostering a culture of continuous innovation and aligning team efforts with executive leadership to enhance business value.
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The presentation introduces the agenda including speakers from Aetna, Colliers International, and Burton Snowboards, focusing on innovation in technology.
Devin Parsons discusses the importance of embracing change for disruptive innovation, leveraging his 20+ years of experience in digital transformation.
Highlights the scale of bswift’s operations, managing billions of transactions and achieving a 30% YoY growth, emphasizing the need for agility.
Analysis of market segments ranging from small to jumbo markets, focusing on the dynamics of rapid change and the need for stability and quality.
Details the phases of disruptive innovation 'Now', 'New', and 'Next', incorporating emerging technologies for competitive advantage.
Discusses strategies for initiating transformative change in organizations, stressing the importance of starting small and focusing on business value.
Closing remarks and contact information for further inquiries on disruptive innovation and digital transformation.
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Beyond Digital Transformation: A Mandate for Disruptive Innovation in the Age of Amazon & CVS Health
- 1. | Beyond “Location”:Informing Decisions Through Innovative Technology| Beyond “Location”: Informing Decisions Through Innovative Technology WELCOME TO OUTSYSTEMS NEXTSTEP 2019 Business Track
- 2. | Beyond “Location”:Informing Decisions Through Innovative Technology| Beyond “Location”: Informing Decisions Through Innovative Technology Today’s Agenda Session 1 - Devin Parsons, Head of Digital Transformation for Aetna, a CVS Health Company Session 2 - Mihai Strusievici Director of IT, NA, Colliers International Session 3 – Matthew Burns, Manager of Advanced Analytics, Burton Snowboards
- 3. Embrace Change toMake Disruptive Innovation a Reality Devin Parsons bswift, A CVS Health Company
- 4. Devin Parsons Vice President andHead of Digital Transformation | bswift 20+ Years
- 6. Tens of thousandsof plan sponsors Billions of health and wellness transactions for millions of people
- 7. | Beyond DigitalTransformation: A Mandate for Disruptive Innovation in the Age of Amazon & CVS Health Mandate for
- 8. bswift has tobe... ⚬ agile (and Agile) ⚬ Lean ⚬ Smart At 1/10th the size
- 9. bswift is GrowingFast 30% YoY Topline Growth
- 10. Jumbo Market ≥ 100,000 Employees Moving OnUp Small ≤ 5,000 Employees Mid-Market > 5,000 and < 100,000 Employees
- 11.
- 12. Disruptive Innovation: Earning theRight Now New Next
- 13. Now Closing the CompetitiveGap ● 1/10th the size ● Mobile 2.0 ○ Developed and deployed both iOS and Android apps in 6 weeks ● Great UI/UX
- 14. New Creating a Competitive Advantage ●Next Generation Assisted Service ○ Outgrew our current call center ■ 100% YoY growth ○ A non-linear expense curve ○ Needed to move fast before we grew even more
- 15. Next Generation AssistedService ● Unified Application Desktop ○ Reduced average hold time ○ Improved quality ○ Higher agent engagement ● Developed in 3 Months ○ Case management ○ Call tracking ○ Content management & presentation ○ Real-time telephony integration
- 16. Next What is Next: DisruptiveInnovation? ● Incorporating Emerging Tech ○ Conversational UI ○ Neural Networks ○ Augmented reality ○ …change the world
- 17. ● Low-code isn’ta fix for corporate shortcomings ○ Ensure your CEO (not just the CIO or COO) knows what’s coming, and backs you ● When you clear its backlog they will start asking for more ○ It’s a shock. Be ready for it! ● Don’t underestimate the organizational and cultural transformation ○ It can be difficult and painful, but critical to success ○ Change ≠ Transformation
- 18. 18 Where do Istart? Stay Focused Start Small Think Big
- 19. Stay Focused ...onthe differentiated business value you need to create. ● New product opportunities ● Changing customer needs ● Additional markets and channels ● Changing the world
- 20. ● Create yourcharter team ○ Keep it small and Keep it flat ○ All “A” players and all in ○ Align team to the CEO ● Find an ally in the business ○ Who needs something but can’t get it? ○ Who is willing to go all it with you? ○ Who can move faster and then faster still? ● A little less conversation, a little more action please ○ Delivering value fast gets attention ○ Delivering value often gets you the right to talk about disruptive innovation Choose Wisely Establish Credibility Deliver Value
- 21.
Editor's Notes
- #4 Disruptive innovation rarely happens by continuing to do the same thing or by making the same choices. Join bswift’s Devin Parsons, Vice President and Head of Digital Transformation, as he discusses the choices and changes they faced, as well as the lessons they learned along their digital transformation journey.
- #6 Company Overview Bswift has its roots in H&W Benefits Administration and now as part CVS Health, we are focused on making our Members healthier individuals, more productive employees, and more engaged members of society.
- #7 Bswift serves tens of thousands of plan sponsors ranging in size from a few dozen employees to clients with over 300,000 employees spanning the entire spectrum of self-service, assisted service, and back office processing in a B2B2C model. Bswift processes billions of health and welfare related transactions millions of people. And while we are a 10th the size of our leading competitor by GR, we are growing fast.
- #9 Did I tell you we are one 10th the size of our leading competitor? Bswift has to be agile (upper and lower case), lean, and smart with every dollar we spend We have to be able to turn on a dime to adjust to changing market and legislative winds The reality is when you have 1,000 employees and your competition has 10,000 you have to do a heck of a lot more with far less - bswift does just that
- #10 We are growing FAST - 30%+ a year by GR and even faster by some other metrics Fast growth means more Epics, more features, and more use cases to be delivered. It means tons of new employees joining the company each months - employees that have to be productive FAST
- #11 Bswift is transitioning from selling to small and midsize businesses to what we call the Jumbo market - 200,000, 300,000 and more employees Our large market clients expect a much more bespoke set of solutions When selling to a client with 400,000 employees the only acceptable answer to any request is, YES!!
- #12 We have to address all of what I just talked about WITHOUT EVER JEOPARDIZING the stability, quality, or accuracy of our core record keeping system We needed to be able to drive RAPID change while isolating our record keeping systems to ensure stability We needed to deliver fully integrated solutions that were Out Systems - outside of our regulated platform.
- #14 Now Closing the gap with our competition Back to the one 10th the size thing again - there are going to be gaps but closing them is table stakes Where did we start in closing the competitive gap: Mobile App 2.0 Existing App was dead Clients were unhappy Prospects were, well, we just could not tell them we did not have a mobile app Our legacy IT organization quoted 6 months - just for the iOS version Results Developed and deployed an iOS and Android App in six weeks leveraging our newly minted OutSystems development teams in Chicago and Guadalajara + side by side OutSystems support via their KickStart program Delivered high design fidelity The overwhelming positive market response We can actually sell what we have and not what we wished we did ...a few months later we are on v.2.3 and still counting
- #15 Creating a competitive advantage As a small player with very mature competition, we have to earn our right to sit at the finalists table each and every time We don’t hear, “bswift, of course!” we hear, “b-what? bswift? Who are they?” The first step in creating competitive advantage: Next Generation Customer Service Agent Desktop 100% YoY growth + more complex interactions + cyclical demand = massive need for process and tool simplification Single, Unified Application Desktop for customer service agents that integrates leveraging OutSystems for the entire stack including the user interface, systems integration, and process orchestration
- #16 Results There is a lot I could talk about here but this is the bottom line - OutSystems has given us the confidence to sell new business at a previously unreachable cost model even before this new product is available as GA Reduced AHT, improved quality, better data containment, and higher agent engagement/retention and that allows us to grow our top line without a linear expense curve
- #17 Enabling Disruptive Innovation I thought long and hard about using “disruptive innovation” as the overarching mandate for my team because, frankly, it sounds like another buzz phrase But, for me, it is not just the right mandate it is the only one that really rises to the level of credibility Few of us in this room would be happy with just being a ‘leader in our space’ or ‘highly competitive’ - that is what companies that have forgotten about Day 1 aspire to. Our aspirations demand disruptive innovation to set a totally new bar of service for our customers, partners, and ourselves... But there is a big WARNING! Disruptive innovation is crazy scary to more people that you think so stay tuned for lessons learned to avoid a huge shock wave of pain Next - Disruptive Innovation + crushing the competition Now that we have an OutSystems CoE setup and 4 factories running we are free to take even greater risks Risks like Conversational User Interfaces, ML, and augmented reality These are risks that we could have never contemplated before we embraced low code
- #18 Low Code is not an easy fix to corporate shortcomings - it takes guts to go down this path and you need to ensure that your CEO (not just your CIO or COO) understands the level of disruption low code will introduce to your company that she is ready to take advantage of the opportunity When IT can clear its backlog and starts asking for more it is real shock - be ready for it! Don’t underestimate the organizational and cultural transformation that goes along with digital transformation - it can be difficult and painful but if you want to play at the top of your game it is critical