The document discusses how the digitization of the Australian economy is continuing at a rapid pace. Key points include:
- Australians have widely embraced digital technologies like internet, social media, mobile apps, and e-commerce. Most businesses, including small and medium enterprises, now have an online presence.
- Infrastructure investments like the National Broadband Network and 4G networks are expected to further increase bandwidth and digital adoption among consumers and businesses.
- The digital economy is projected to grow at 7% annually. Significant additional digital penetration is anticipated in industries like financial services, telecommunications, retail, education, and transport/logistics.
- For businesses to succeed, corporate leaders must direct resources to enable the entrepreneur
Driven by the need to focus on new products and services, while countering increased competition from Internet players, operators are looking to ensure their IT systems are in sync with the need of the hour. Key factors driving this change include a renewed push from telcos to cut down on their time-to-market while cutting down on their costs. Telcos will have to bear in mind that a successful IT transformation is the result of the coming together of a variety of elements from the business and IT side of operations. In doing so, the first step is to identify and understand the building blocks of a business transformation. Thereon, a strong understanding of the key success factors of a transformation program completes the early steps towards creating a large-scale successful IT transformation.
Cisco is a large, global company with over 150,000 employees, contractors, and partners worldwide. It faces challenges in balancing daily operations with new technology deployments across its 312 locations. Cisco IT aims to transform into an IT service organization that optimizes existing services while growing new strategic offerings. This involves shifting investment from running operations to delivering business value and experiences. Mobility initiatives include supporting BYOD, virtual applications, and a variety of mobile devices through a centralized digital store and identity management.
Rail Revenue World Congress brings together experts implementing the most innovative projects, new revenue strategies and business plans that are helping to grow revenue and increase customer engagement.
No matter where your interest lies, we have content, networking and new partners for you to meet.
By bringing four events together under one roof, you get to choose the sessions most relevant for you to help your business grow revenues and implement new technologies and strategies to bring real innovation to your organisation.
Top 8 digital transformation trends shaping 2021run_frictionless
In a world that’s increasingly dependent on digital, IT’s role is more critical than ever. To meet rising demands, organizations are accelerating their digital transformation. This report identifies the top 8 technology trends that will face CIOs, IT leaders, and organizations in their digital transformation journey in 2021.
https://runfrictionless.com/b2b-white-paper-service/
Powered by AI: Communications and Marketing in the Algorithm AgeMSL
MSL partnered with research firm Toluna to survey 1,846 marketing and communications leaders from Brazil, China, France, Germany, India, Italy, Poland, UK and US. We partnered with our colleagues at sister agency Publicis.Sapient who are experts in counselling companies and brands on the AI revolution.
n the new digital economy, we are in the midst of a third industrial revolution comparable in scale and impact to the introduction of electrification. Digital technology has the potential to improve corporate performance and reach radically, leading to demonstrably better financial performance. However, while the potential of digital is clear, how to practically deliver on a digital vision is less so. In this third Digital Transformation Review, we aim to help business leaders understand more about the managerial and change challenge that they are facing. We look at how an organization defines its digital vision, how to drive change through effective governance and a people strategy, and how to seize the opportunity offered by big data.
We also offer a fresh perspective from pioneers across the globe, looking at an Indian organization’s approach to innovation in healthcare. One company that has defined an ambitious digital vision is Pfizer. We interview Kristin Peck, executive VP of worldwide business development and innovation, and John Young, president and general manager of the primary care business unit, who share the opportunities they see in the digital space as well as their journey in transforming their organization to create more value for their customers.
Open Enrollment 2020: Case Study and Trends ReportWayne Wall
This document provides a summary report of open enrollment communication campaigns from 2020. It analyzes engagement results from nearly 200 employers that targeted approximately 750,000 employees. On average, campaigns saw a 72% employee engagement rate and 76% when using decision support tools. The report also breaks down results by industry and provides best practices for open enrollment communications, including using focused messaging, decision support tools, customized and mobile-friendly content, and active enrollment promotion. It analyzes the use of digital postcards, videos, and calls to action among successful campaigns.
Telecommunications is at the heart of the digital economy, driving and enabling the changing consumer behaviors and demands that have transformed how people consume products and services across many sectors. However, digitization is as much a struggle for Telcos as it is for traditional organizations in many industries.
Our latest survey of over 5700 mobile consumers in the US and Europe has found, for example, that consumers are discontented with their operators.
Driven by the need to focus on new products and services, while countering increased competition from Internet players, operators are looking to ensure their IT systems are in sync with the need of the hour. Key factors driving this change include a renewed push from telcos to cut down on their time-to-market while cutting down on their costs. Telcos will have to bear in mind that a successful IT transformation is the result of the coming together of a variety of elements from the business and IT side of operations. In doing so, the first step is to identify and understand the building blocks of a business transformation. Thereon, a strong understanding of the key success factors of a transformation program completes the early steps towards creating a large-scale successful IT transformation.
Cisco is a large, global company with over 150,000 employees, contractors, and partners worldwide. It faces challenges in balancing daily operations with new technology deployments across its 312 locations. Cisco IT aims to transform into an IT service organization that optimizes existing services while growing new strategic offerings. This involves shifting investment from running operations to delivering business value and experiences. Mobility initiatives include supporting BYOD, virtual applications, and a variety of mobile devices through a centralized digital store and identity management.
Rail Revenue World Congress brings together experts implementing the most innovative projects, new revenue strategies and business plans that are helping to grow revenue and increase customer engagement.
No matter where your interest lies, we have content, networking and new partners for you to meet.
By bringing four events together under one roof, you get to choose the sessions most relevant for you to help your business grow revenues and implement new technologies and strategies to bring real innovation to your organisation.
Top 8 digital transformation trends shaping 2021run_frictionless
In a world that’s increasingly dependent on digital, IT’s role is more critical than ever. To meet rising demands, organizations are accelerating their digital transformation. This report identifies the top 8 technology trends that will face CIOs, IT leaders, and organizations in their digital transformation journey in 2021.
https://runfrictionless.com/b2b-white-paper-service/
Powered by AI: Communications and Marketing in the Algorithm AgeMSL
MSL partnered with research firm Toluna to survey 1,846 marketing and communications leaders from Brazil, China, France, Germany, India, Italy, Poland, UK and US. We partnered with our colleagues at sister agency Publicis.Sapient who are experts in counselling companies and brands on the AI revolution.
n the new digital economy, we are in the midst of a third industrial revolution comparable in scale and impact to the introduction of electrification. Digital technology has the potential to improve corporate performance and reach radically, leading to demonstrably better financial performance. However, while the potential of digital is clear, how to practically deliver on a digital vision is less so. In this third Digital Transformation Review, we aim to help business leaders understand more about the managerial and change challenge that they are facing. We look at how an organization defines its digital vision, how to drive change through effective governance and a people strategy, and how to seize the opportunity offered by big data.
We also offer a fresh perspective from pioneers across the globe, looking at an Indian organization’s approach to innovation in healthcare. One company that has defined an ambitious digital vision is Pfizer. We interview Kristin Peck, executive VP of worldwide business development and innovation, and John Young, president and general manager of the primary care business unit, who share the opportunities they see in the digital space as well as their journey in transforming their organization to create more value for their customers.
Open Enrollment 2020: Case Study and Trends ReportWayne Wall
This document provides a summary report of open enrollment communication campaigns from 2020. It analyzes engagement results from nearly 200 employers that targeted approximately 750,000 employees. On average, campaigns saw a 72% employee engagement rate and 76% when using decision support tools. The report also breaks down results by industry and provides best practices for open enrollment communications, including using focused messaging, decision support tools, customized and mobile-friendly content, and active enrollment promotion. It analyzes the use of digital postcards, videos, and calls to action among successful campaigns.
Telecommunications is at the heart of the digital economy, driving and enabling the changing consumer behaviors and demands that have transformed how people consume products and services across many sectors. However, digitization is as much a struggle for Telcos as it is for traditional organizations in many industries.
Our latest survey of over 5700 mobile consumers in the US and Europe has found, for example, that consumers are discontented with their operators.
Ctrl-alt-del: Rebooting the Business Model for the Digital AgeCapgemini
Our research with the MIT Sloan Management Review reveals that only 16% of organizations are leveraging digital technologies to develop new business models. Most organizations follow traditional approaches to innovation that focus on new products and services, rather than on business models. However, research suggests that the returns from traditional approaches have been diminishing with time. As Serguei Netessine, Professor at INSEAD Singapore says, “Pharmaceutical companies spend as much as 30% of their revenues on R&D, trying to develop new products or technologies. But the return from this enormous expenditure has been very elusive and it is a common problem across industries.” Business model reinvention can be as good a route as technology, product or service innovations. This research highlight five different approaches that organizations can adopt to reinvent their business model with digital technologies.
Turning AI into Concrete Value: The Successful Implementers' ToolkitCapgemini
A Capgemini study of nearly 1,000 organizations implementing Artificial Intelligence highlights the growth opportunity of AI and counters fears that AI will cause massive job losses in the short term.
The document summarizes research on the digital customer experience. Some key findings include:
1. Consumers are willing to spend more for a better digital experience, with 81% willing to increase spending and 9% willing to increase spending by over half.
2. Companies with higher "DCX Index" scores, which measure digital customer experience practices, see greater customer satisfaction, higher NPS, and increased spending. A one point increase in the Index correlates to a 0.6% increase in customer spending.
3. There is a large gap between how companies perceive their customer centricity and consumer perceptions. While 75% of companies believe they are customer centric, only 30% of consumers agree.
How CPGs Can Win in the New Age of the Digital Consumeraccenture
This document discusses how consumer packaged goods (CPG) companies need to transform to succeed in the new digital era. It outlines that CPGs must radically rethink their relationships with consumers and customers and move beyond legacy operating models. Specifically, it recommends that CPGs 1) create a unified brand strategy and two-way dialogue with consumers, 2) take a systematic approach to growing their digital consumer base, and 3) rethink their routes to market and customer engagement strategies. It also stresses the importance of switching to a holistic, flexible and digitally-enhanced operating model.
Going Digital: General Electric and its Digital TransformationCapgemini
GE has undertaken a major digital transformation to transition from being an industrial equipment provider to a provider of data-driven services and solutions. Key aspects of GE's transformation include developing software and analytics products, opening its Predix big data platform to third parties, and attaching sensors to machines to capture performance data and provide analytics to improve efficiency. GE has also hired new digital leaders, set up centers of excellence for software and digital initiatives, and trained employees in startup methodologies to foster innovation. The transformation aims to allow GE to capitalize on data from its industrial equipment and maintain relevance in a changing industry.
Fjord Trends 2020: Emerging Trends in Business | Accentureaccenture
Accenture's Fjord Trends 2020 provides insight on business trends impacting business, tech & design to help brands thrive in a changing world. Read more.
The Digital Talent Gap: Are Companies Doing Enough?Capgemini
The challenge of the digital talent gap is no longer just an HR issue; it is an organization-wide phenomenon that affects all areas of the business.
We undertook a worldwide, cross-sector research program in collaboration with LinkedIn to analyze the demand and supply of digital talent. We surveyed over 1,200 people to gain the perspectives of both employees and leadership teams and we interviewed human resource and talent executives within organizations as well as digital and technology recruiters. In parallel, we worked with LinkedIn to understand demand and supply for specific digital skills and digital roles.
2020 Banking Consumer Study: Making Digital More Human – UK Findingsaccenture
The 2020 Global Financial Services Consumer study surveyed 48,710 banking & insurance customers globally including 3,000 UK respondents. Read more here.
The Work Ahead in Banking & Financial Services: The Digital Road to Financial...Cognizant
Banking and financial services organizations are moving beyond the basics of digital banking and one-size-fits-all services, according to our recent study. Using AI, automation and analytics, they aim to speed processes, blend human-centric and tech-driven customer engagement and deliver personalized financial wellness.
Telstra: Securing a Bright Digital Future for One of Australia’s Most Iconic ...Capgemini
We explore Telstra’s 5 year Digital transformation journey which started in 2011 where 20% of their customer transactions were digital compared to 56% in H1 2016. Telstra’s broad focus on being a more digital rather than physical company aligned with massive investment in IT systems together with their long term organic transformation route is also explored giving a clear indication of strategic imperatives to achieve successful digital transformation.
Through interviewing Monty Hamilton, Director of Digital Operations, we look at some of Telstra’s key achievements including their launch of a crowd-sourced customer support model, startup accelerator and their Digital First Program to name a few.
Deloitte’s Technology, Media & Telecommunications (TMT) Predictions offer insights that will help you and your business succeed in the year ahead.
The annual report is based on global research – including in-depth interviews with clients, industry analysts, global industry leaders and more than 8,000 Deloitte member-firm TMT practitioners.
AI in Media & Entertainment: Starting the Journey to ValueCognizant
Up to now, the global media & entertainment industry (M&E) has been lagging most other sectors in its adoption of artificial intelligence (AI). But our research shows that M&E companies are set to close the gap over the coming three years, as they ramp up their investments in AI and reap rising returns. The first steps? Getting a firm grip on data – the foundation of any successful AI strategy – and balancing technology spend with investments in AI skills.
In a world of digital disruption, how ready are Swiss companies to face the digital challenge? Accenture assessed the digital maturity of the largest Swiss companies and industries and offers insights into how to seize the digital opportunity.
Realising Digital’s Full Potential in the Value ChainCognizant
When we spoke with executives across Europe who lead digitising efforts, they described a diverse range of deployments, but digital can, and must, deliver far more than it has so far. In this ebook, we explore how businesses can explore digital's full potential across their value chain.
This document summarizes the key findings of a survey conducted by Accenture between July and September 2020 with over 7,000 citizens who had received social services in the past two years and 660 executives across 10 countries. The survey found that demand for social services has increased due to the COVID-19 pandemic, exposing underlying weaknesses, and that citizens expect to use social services more in the future. Executives feel less prepared to address current and future challenges than before the pandemic. Three priorities for reshaping social services were identified: becoming more responsive, accessible, and embracing new technologies with human ingenuity.
Wall Street Tech Conference_2015_Pooneh Mohazzabipooneh mohazzabi
Digital technologies are significantly impacting customer expectations in the banking industry. Customers now expect services to be available anytime, anywhere, personalized, accurate, seamless and continuously innovative. This has disrupted traditional banking models and forced banks to rethink their value proposition and competitive advantage. Additionally, digital natives entering the market will require products tailored to their needs and preferences. Banks must embrace digital innovation to both drive revenue growth and reduce costs in order to remain competitive in this new environment.
Deconstructing Digital Strategy and Transformation. Trying to break it down into some of it's constituent elements. Hopefully enabling a more execution friendly model of thinking about Digital Strategy.
The document discusses a study on the views of 500 senior executives from US companies on how their businesses have been impacted by the COVID-19 pandemic. Some key findings include:
- Executives see accelerating digital initiatives and ensuring employee health and well-being as top priorities.
- Many companies were unprepared for the crisis and it exposed gaps in business continuity planning.
- Industries like manufacturing, retail, and education were hit hard with facility closures and shifting operations online.
- Going forward, companies are focusing on improving digital capabilities, supply chain resilience, and cybersecurity as they aim to emerge from the pandemic transformed in how they operate.
The 10 Most Trusted Wireless Technology Service Providers, 2023.pdfInsightsSuccess4
This edition features a handful of business Wireless Technology Service Providers across several sectors that are at the forefront of leading us into a digital future.
Read More: https://insightssuccess.com/the-10-most-trusted-wireless-technology-service-providers-2023-december-2023/
The document summarizes research on accelerating growth of the Australian technology startup sector. It finds that in 2012 there were approximately 1,500 tech startups in Australia, mostly located in Sydney and Melbourne. To maximize the sector's economic contribution, the research identifies five key areas for action: enhancing culture and community engagement; developing more entrepreneurs with the right skills; opening up markets to Australian tech startups; increasing early stage funding; and improving the regulatory environment. If growth is accelerated, the tech startup sector could contribute 4% of GDP and employ over 540,000 people by 2033.
Ctrl-alt-del: Rebooting the Business Model for the Digital AgeCapgemini
Our research with the MIT Sloan Management Review reveals that only 16% of organizations are leveraging digital technologies to develop new business models. Most organizations follow traditional approaches to innovation that focus on new products and services, rather than on business models. However, research suggests that the returns from traditional approaches have been diminishing with time. As Serguei Netessine, Professor at INSEAD Singapore says, “Pharmaceutical companies spend as much as 30% of their revenues on R&D, trying to develop new products or technologies. But the return from this enormous expenditure has been very elusive and it is a common problem across industries.” Business model reinvention can be as good a route as technology, product or service innovations. This research highlight five different approaches that organizations can adopt to reinvent their business model with digital technologies.
Turning AI into Concrete Value: The Successful Implementers' ToolkitCapgemini
A Capgemini study of nearly 1,000 organizations implementing Artificial Intelligence highlights the growth opportunity of AI and counters fears that AI will cause massive job losses in the short term.
The document summarizes research on the digital customer experience. Some key findings include:
1. Consumers are willing to spend more for a better digital experience, with 81% willing to increase spending and 9% willing to increase spending by over half.
2. Companies with higher "DCX Index" scores, which measure digital customer experience practices, see greater customer satisfaction, higher NPS, and increased spending. A one point increase in the Index correlates to a 0.6% increase in customer spending.
3. There is a large gap between how companies perceive their customer centricity and consumer perceptions. While 75% of companies believe they are customer centric, only 30% of consumers agree.
How CPGs Can Win in the New Age of the Digital Consumeraccenture
This document discusses how consumer packaged goods (CPG) companies need to transform to succeed in the new digital era. It outlines that CPGs must radically rethink their relationships with consumers and customers and move beyond legacy operating models. Specifically, it recommends that CPGs 1) create a unified brand strategy and two-way dialogue with consumers, 2) take a systematic approach to growing their digital consumer base, and 3) rethink their routes to market and customer engagement strategies. It also stresses the importance of switching to a holistic, flexible and digitally-enhanced operating model.
Going Digital: General Electric and its Digital TransformationCapgemini
GE has undertaken a major digital transformation to transition from being an industrial equipment provider to a provider of data-driven services and solutions. Key aspects of GE's transformation include developing software and analytics products, opening its Predix big data platform to third parties, and attaching sensors to machines to capture performance data and provide analytics to improve efficiency. GE has also hired new digital leaders, set up centers of excellence for software and digital initiatives, and trained employees in startup methodologies to foster innovation. The transformation aims to allow GE to capitalize on data from its industrial equipment and maintain relevance in a changing industry.
Fjord Trends 2020: Emerging Trends in Business | Accentureaccenture
Accenture's Fjord Trends 2020 provides insight on business trends impacting business, tech & design to help brands thrive in a changing world. Read more.
The Digital Talent Gap: Are Companies Doing Enough?Capgemini
The challenge of the digital talent gap is no longer just an HR issue; it is an organization-wide phenomenon that affects all areas of the business.
We undertook a worldwide, cross-sector research program in collaboration with LinkedIn to analyze the demand and supply of digital talent. We surveyed over 1,200 people to gain the perspectives of both employees and leadership teams and we interviewed human resource and talent executives within organizations as well as digital and technology recruiters. In parallel, we worked with LinkedIn to understand demand and supply for specific digital skills and digital roles.
2020 Banking Consumer Study: Making Digital More Human – UK Findingsaccenture
The 2020 Global Financial Services Consumer study surveyed 48,710 banking & insurance customers globally including 3,000 UK respondents. Read more here.
The Work Ahead in Banking & Financial Services: The Digital Road to Financial...Cognizant
Banking and financial services organizations are moving beyond the basics of digital banking and one-size-fits-all services, according to our recent study. Using AI, automation and analytics, they aim to speed processes, blend human-centric and tech-driven customer engagement and deliver personalized financial wellness.
Telstra: Securing a Bright Digital Future for One of Australia’s Most Iconic ...Capgemini
We explore Telstra’s 5 year Digital transformation journey which started in 2011 where 20% of their customer transactions were digital compared to 56% in H1 2016. Telstra’s broad focus on being a more digital rather than physical company aligned with massive investment in IT systems together with their long term organic transformation route is also explored giving a clear indication of strategic imperatives to achieve successful digital transformation.
Through interviewing Monty Hamilton, Director of Digital Operations, we look at some of Telstra’s key achievements including their launch of a crowd-sourced customer support model, startup accelerator and their Digital First Program to name a few.
Deloitte’s Technology, Media & Telecommunications (TMT) Predictions offer insights that will help you and your business succeed in the year ahead.
The annual report is based on global research – including in-depth interviews with clients, industry analysts, global industry leaders and more than 8,000 Deloitte member-firm TMT practitioners.
AI in Media & Entertainment: Starting the Journey to ValueCognizant
Up to now, the global media & entertainment industry (M&E) has been lagging most other sectors in its adoption of artificial intelligence (AI). But our research shows that M&E companies are set to close the gap over the coming three years, as they ramp up their investments in AI and reap rising returns. The first steps? Getting a firm grip on data – the foundation of any successful AI strategy – and balancing technology spend with investments in AI skills.
In a world of digital disruption, how ready are Swiss companies to face the digital challenge? Accenture assessed the digital maturity of the largest Swiss companies and industries and offers insights into how to seize the digital opportunity.
Realising Digital’s Full Potential in the Value ChainCognizant
When we spoke with executives across Europe who lead digitising efforts, they described a diverse range of deployments, but digital can, and must, deliver far more than it has so far. In this ebook, we explore how businesses can explore digital's full potential across their value chain.
This document summarizes the key findings of a survey conducted by Accenture between July and September 2020 with over 7,000 citizens who had received social services in the past two years and 660 executives across 10 countries. The survey found that demand for social services has increased due to the COVID-19 pandemic, exposing underlying weaknesses, and that citizens expect to use social services more in the future. Executives feel less prepared to address current and future challenges than before the pandemic. Three priorities for reshaping social services were identified: becoming more responsive, accessible, and embracing new technologies with human ingenuity.
Wall Street Tech Conference_2015_Pooneh Mohazzabipooneh mohazzabi
Digital technologies are significantly impacting customer expectations in the banking industry. Customers now expect services to be available anytime, anywhere, personalized, accurate, seamless and continuously innovative. This has disrupted traditional banking models and forced banks to rethink their value proposition and competitive advantage. Additionally, digital natives entering the market will require products tailored to their needs and preferences. Banks must embrace digital innovation to both drive revenue growth and reduce costs in order to remain competitive in this new environment.
Deconstructing Digital Strategy and Transformation. Trying to break it down into some of it's constituent elements. Hopefully enabling a more execution friendly model of thinking about Digital Strategy.
The document discusses a study on the views of 500 senior executives from US companies on how their businesses have been impacted by the COVID-19 pandemic. Some key findings include:
- Executives see accelerating digital initiatives and ensuring employee health and well-being as top priorities.
- Many companies were unprepared for the crisis and it exposed gaps in business continuity planning.
- Industries like manufacturing, retail, and education were hit hard with facility closures and shifting operations online.
- Going forward, companies are focusing on improving digital capabilities, supply chain resilience, and cybersecurity as they aim to emerge from the pandemic transformed in how they operate.
The 10 Most Trusted Wireless Technology Service Providers, 2023.pdfInsightsSuccess4
This edition features a handful of business Wireless Technology Service Providers across several sectors that are at the forefront of leading us into a digital future.
Read More: https://insightssuccess.com/the-10-most-trusted-wireless-technology-service-providers-2023-december-2023/
The document summarizes research on accelerating growth of the Australian technology startup sector. It finds that in 2012 there were approximately 1,500 tech startups in Australia, mostly located in Sydney and Melbourne. To maximize the sector's economic contribution, the research identifies five key areas for action: enhancing culture and community engagement; developing more entrepreneurs with the right skills; opening up markets to Australian tech startups; increasing early stage funding; and improving the regulatory environment. If growth is accelerated, the tech startup sector could contribute 4% of GDP and employ over 540,000 people by 2033.
This document summarizes a workshop on how cloud computing can help small and medium enterprises (SMEs). It discusses how cloud computing allows SMEs to access sophisticated IT services previously unavailable to them due to cost or expertise required. Cloud computing provides capabilities like real-time access to documents from mobile devices. Studies show SMEs that use cloud computing report more revenue and profit growth. However, many Australian SMEs do not use cloud services due to lack of awareness, skills, cost concerns, or unreliable networks in some areas. Workshop participants agreed that industry and government should help SMEs overcome these barriers to capturing the benefits of cloud computing.
This document provides an overview of Bharti Airtel Ltd and the telecommunications industry. It discusses how Airtel is India's largest telecom company and one of the world's top five, offering mobile, wireless, broadband and other services. It then provides context on the growth of the global telecom industry, innovations in technology, and industry trends like consolidation. Finally, it outlines the growth of the Indian telecom market to over 200 million phone lines, making it one of the fastest growing in the world due to reforms and an independent regulatory body.
Cd Anderson Portfolio Internet Solutionscdanderson
1) Internet Solutions (IS) is South Africa's leading internet provider and offers connectivity, communications, cloud, and carrier services across Africa and the Middle East.
2) IS manages over 4 major service areas including connectivity, communications, cloud, and carrier services. It aims to expand these services and connect more businesses and individuals across the continent.
3) Managing Director Derek Wilcocks discusses IS's focus on strong leadership and people. Under his leadership, IS has expanded services, attracted more enterprise clients, and formed new partnerships to deliver advanced technologies like cloud computing and security solutions.
The document discusses digital transformation and its impact. It covers topics like drivers of digital transformation, how it is affecting industries, IT, stakeholders, and the benefits and challenges of adoption. Digital transformation is redefining industries through convergence of social, local and mobile technologies, leading to superior customer experiences. It is driving fundamental shifts in business models and cost structures across media, telecom, financial services, education, healthcare and other industries.
SMEs in Asia Pacific: The Market for Cloud Computing - Case Studies of 14 mar...accacloud
Small and medium-sized enterprises represent well over 90% of all businesses in Asia, and across the 14 markets under review they employ some 1.02 billion people and contribute around $10.9 trillion directly into the economies in which are based (49.1% of total GDP for the region.) They also spend significantly as a group on ICT.
Cloud computing – and cloud computing technology – has the potential to be the ‘great leveller’ for both SMEs and developing economies. This is because cloud offers the prospect of both the access to enterprise grade tools on a pay-per-use basis making them immediately accessible and affordable, and the ability to scale up and down such access as required (elasticity of use). In other words, upfront capex requirements go down substantially.
What are their challenges to using cloud? How can this technology be made more available to SMEs, so that they can harness its power for digital transformation? This report reviews 14 markets' SME industry, and establishes market size, characteristics, and identifies industries most likely to undergo digital transformation.
For more information, visit http://www.asiacloudcomputing.org
Cirrus Networks is an IT solutions integrator that has experienced rapid revenue growth. It is seeking to raise $3-5 million through an IPO to fund further expansion. Key points from the presentation include that Cirrus has achieved strong revenue and profit growth in recent years, has a portfolio of blue chip clients, and intends to pursue growth through new service offerings and geographic expansion.
Insights Success has shortlisted, The 10 Fastest Growing Telecom Solution Provider to watch 2018. Who are the telecommunications ecosystem expects IOT to become a critical engine for future growth.
Business and Business Environment - TASK 01 & TASK 02Akshana Sivakumar
This document provides an overview of Dialog Axiata Plc, a major telecommunications provider in Sri Lanka. It begins with an acknowledgment and table of contents. It then discusses Dialog's vision, mission, and objectives. Key points analyzed include a PESTEL analysis of the business environment factors impacting Dialog, a SWOT analysis of Dialog's strengths, weaknesses, opportunities, and threats, and descriptions of Dialog's organizational functions, structure, and how functions impact its objectives. The document provides high-level information on Dialog's business and operations in Sri Lanka.
This document brings together a set
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Singtel has embarked on a strategic reset to capture untapped digital growth in the 5G era. The reset prioritizes three areas:
1) Reinvigorating the core by leveraging 5G leadership to grow 5G market share in consumer and enterprise segments. This involves innovating consumer products/services and growing digital lifestyle businesses, as well as co-creating 5G enterprise services.
2) Developing new growth engines by recasting NCS as an Asian B2B digital services champion and building out ASEAN digital ecosystems with regional associates.
3) Unlocking value from quality infrastructure assets like towers, satellites and data centres to invest in critical infrastructure and drive growth.
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This document summarizes an interview with Fotis Karonis, the CTO of mobile network operator EE in the UK. Some key points:
- EE was the first to launch LTE networks in the UK and has now launched the fastest LTE-Advanced network, giving over 1 million customers faster speeds and improved connectivity.
- Karonis credits EE's success to strong engineering capabilities and collaboration with partners like Huawei to build future-proof, scalable networks.
- The LTE network is transforming user experience in the UK by enabling more mobile access to services, content and productivity apps.
- EE's new LTE-Advanced network, using technology from Huawei, can achieve speeds up
Elite Telecom is a leading provider of unified communications and connectivity solutions for businesses. Founded in 2000, it has experienced strong growth through both organic growth and acquisitions. Elite Telecom aims to help businesses improve performance through tailored technology and communication solutions. It prides itself on high quality customer service and technical support.
Deloitte is a global network of professional services firms that provides audit, consulting, financial advisory, risk management, and tax services. It operates through individual member firms in various countries, which are separate legal entities. The document provides a brief overview of Deloitte and its legal structure, noting that services may vary by country and rules and regulations. It also contains standard disclaimers regarding the general nature of its content and advising readers to consult professionals regarding specific situations.
The document discusses how connectivity has revolutionized the world through mobile devices and social media. It describes how Atom Consulting has leveraged this potential by connecting over 287,000 users and approving over 500 ideas for funding through its Rise movement. It then discusses how the world has become more interconnected through technology, blurring boundaries and focusing more on global rather than just regional issues. Atom Consulting works with organizations like the World Economic Forum to address important global challenges.
Australian Enterprises for the Digital EconomyVishal Sharma
This document summarizes research conducted by the National Institute of Economic and Industry Research (NIEIR) on how digital technologies will impact seven key industry sectors in Australia by 2025. The research models two potential futures for enterprises in each sector: a "leader" that fully embraces digital transformation, and a "follower" that does not significantly change. It finds that large performance gaps will open up between leaders and followers, with leaders enjoying significant advantages in areas like revenue, market share, and productivity. By 2025, these gaps could be worth hundreds of billions of dollars in combined market capitalization across some sectors. The research underscores the importance of Australian enterprises urgently transforming their business models for the digital age.
Telstra's network strategy focused on moving users from 2G to 3G and then to LTE to free up spectrum for new technologies and increase efficiency. They offered incentives like free upgrades and pricing plans to encourage users to adopt newer services. This allowed Telstra to launch Australia's first LTE network in 2011 using refarmed 1800MHz spectrum. Telstra's strategy of continuous network upgrades reduced its costs per megabyte by over 70% from 2008-2011 and helped maintain its dominant market position in Australia.
The document discusses how cloud computing can help Indonesia achieve its goal of becoming Indonesia 4.0 by facing the pandemic with technology. It outlines Datacomm's cloud and security products and services, how they can help SMEs overcome challenges in adopting digital technologies, and examples of technologies that can solve social issues like telehealth.
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1. TAKING LEADERSHIP
IN A DIGITAL ECONOMY
BY TELSTRA CORPORATION LIMITED
AND DELOITTE DIGITAL
November 2012
deloittedigital.com.au
telstra.com
2. A NOTE FROM DAVID
Consumers and businesses are rapidly embracing digital technology and this is redefining
the traditional transaction model.
We now have a new generation of globally connected consumers and businesses who
behave very differently – and we must all adapt to these changes and take advantage of
the new opportunities.
By the end of the decade we will have connected just about every device to next generation
networks, from smartphones and offices of the future, to educational resources and digital
home appliances.
The changes we are talking about are transformational. Everything, everyone and every
place will be connected.
This will make us more innovative and more competitive – and change the way we live and
work for the better.
The challenge ahead is how to best use the tremendous creativity, innovation and
capability of Australians to participate in these new opportunities – whether it be
m-commerce, Big Data, robotics or social media.
Every part of our economy can benefit from this new era of connectivity.
Our role, as Australian business leaders, is to help build a 21st century economy that
is locally accessible and globally competitive.
As a nation, we can lead the world and create positive change.
David Thodey
Chief Executive Officer
Telstra
1
3. A NOTE FROM GIAM
The world is changing. The internet has transformed the Australian economy over the last
10 years, and is poised to play an even greater role in our daily lives and businesses as
Australia positions itself to become a leading digital economy.
The pace of technology change is growing exponentially, and in the digital age,
the only constant is change.
Disruption can sneak up on you unexpectedly. For your industry, how will you know that
disruption is coming before it’s too late? Will you know your competitor in a global market
that disrupts existing industry & country boundaries?
As a nation, we need to consider whether we are simply building better ways of
delivering the same products and services. Or are we creating truly new and different
business models? Companies that miss this distinction are at risk of becoming irrelevant
in the digital economy.
Realistically, digital creates more opportunities than dangers. As leaders, the choices we
make will be crucial in whether Australia takes a position of leadership at the forefront of
this change.
Our country’s future prosperity will depend on visionary leadership, enabling our Australian
entrepreneurial spirit, becoming more agile in our decision making and investing in the
talent required to support the digital economy.
As with all of our work at Deloitte, we hope that this white paper enhances your capacity to
act. In the digital age, how quickly and how thoughtfully we act will determine our future.
Giam Swiegers
Chief Executive Officer
Deloitte Australia
Taking leadership in a digital economy 2
4. INTRODUCTION
To some extent, Australia is already Leading our economy and our country
well positioned to be a driving force of the successfully through this change requires
digital revolution. Our infrastructure is well wisdom, courage and conviction.
developed, consumers and businesses are
rapidly embracing digital services and we This whitepaper outlines the expected rate
have talented people who can innovate of growth in the Australian digital economy
and execute. and highlights the choices incumbent
corporations face as a result.
To fulfil Australia’s potential to take a
leadership position in an increasingly Telstra itself is such an incumbent
global and digital economy, however, corporate leader and has started its own
Australian corporate leaders must accept digital transformation to ensure its future
this accountability and direct their success. Through its core business in
resources accordingly. mobility, networks and cloud computing,
Telstra is also a provider of infrastructure
Increasingly, a complex digital ecosystem enablers to the digital economy.
consisting of technologies such as web-
delivered services, mobile applications, Deloitte advises and implements
social media, machine-to-machine (M2M) digital solutions for businesses seeking
and many others move centre stage to win in their transformation through
creating opportunities for innovators, digital solutions.
yet challenging laggards.
3
5. CONTENTS
The digitisation of our economy continues at pace 5
Immense disruption ahead 9
Incumbents must respond 15
How incumbents win 20
Conclusion 25
Taking leadership in a digital economy 4
6. THE DIGITISATION OF OUR
ECONOMY CONTINUES AT PACE Figure 5: Australian SMEs taking orders for goods and services online, by industry sector, April 2011
Wholesale trade
The basics are in place The federal government’s National Broadband
Manufacturing
Network (NBN) and the Telstra lead 4G mobile
Transport/storage
Today, Australia has comparable Accommodation/cafes/restaurants are infrastructure investment
network rollout,
broadband adoption and connection commitments that are expected to facilitate
Retail trade
speeds to many of its peers in the continued future increases in both bandwidth
Finance and insurance
developed world. and customer adoption for fixed and wireless
Communications/property/business services
connectivity.
Personal services
Whilst not necessarily on top of the league
Building/construction this investment is Australia’s
An outcome of
(yet), broadband adoption has seen 30%
year on year growth 1 in 2012, and has relatively high smart phone penetration,
Health/community services
steadily grown over the past decade or so. which today stands at over 50%4.
0 10 20 30 40 50 60 70 80
Australia already has the 14th largest % of SMEs in Australia
number of 3G subscribers of any country in Online Experience of Small and Medium Enterprises 2011, October 2011
Source: Sensis, The
the world2 and the OECD places Australia
Note: Survey conducted in April 2011
8th by wireless broadband penetration, just Figure 1: Global broadband adoption and connection speed data
behind the US, but well ahead of the UK, 100
Spain and France3.
South Korea
80 Switzerland
Japan
Broadband adoption (%)
Hong Kong
Germany
60
USA
UK
Russia
Israel
France
40 Australia Spain
20
China
India
0
0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
Average connection speed (Mbps)
Developed countries Source: Akami 2012
Developing countries
5
7. THE DIGITISATION OF OUR
ECONOMY CONTINUES AT PACE
Consumers are embracing Given our high smart phone penetration,
it’s not a surprise that Australians are also
digital services establishing a love affair with mobile apps.
Australia downloads more than 60 million10
Australian consumers have embraced
apps a month making us the fifth largest
digital offerings with relish, leaving few
per capita consumers of apps anywhere
traditional products or services
in the world. Globally one billion Android
unaffected, including:
applications are downloaded each month11.
• Internet search
Australians are also prolific online buyers
• Digital content
with the growth in online sales five times
• Social media
that of traditional retail12. And double digit
• Mobile applications
growth is forecast for online sales over
• E-commerce
the next five years13.
The number of internet searches by
Australians has grown at an annual
rate of 30% and a recent Nielsen Figure 2: Australian Google search growth for banking,
Figure 3:report highlightedon each usage
Average time spent that more than 40% insurance & investment Fi
occasion (minutes)
of Australians research their purchases 800
online5, making web search a de facto 700
minutes per visit
17.86
e-commerce hub. 600
Google growth index
Average
a
500
Percenatage
According to 9.15 ACMAs Digital Australians
the 8.67 400
survey, 33% of Australians watch online 300
video content each month6. 200
Facebook Twitter Linkedin 100
Social media is experiencing
Source: Sensis 2012 0
2007 2008 2009 2010 2011
phenomenal growth with 62% of Years
internet users reporting they use social Investment Banking
Insurance
media7. Facebook, of course, has So
Source: Google 2011
seen incredible success with over 11M
33 Australians using the service regularly8
Figure 10: Average Net Promoter Score Across Industries Tr
spending an impressive 18 minutes on Index Figure 2: Aust
ag
5 Figure 3: Average time spent on each usage 4000 insurance & in
the site per visit and over 2
20% of all
occasion (minutes) 5.8
0 internet time is now spent on 3400 800
5.6
3000
social networks9. 700
minutes per visit
17.86
5.4
-5 600
Google growth index
-9
Average
South Korea 2000 5.2
NPS
15 Switzerland 500
-10 5.0
Japan 9.15 8.67 400
-15
4.8
-15 Hong Kong
1000 300
-19
4.4
200
Germany -20 15.59 4.2
Facebook Twitter Linkedin 0 100
USA Jan’12 Apr ‘12 Jul ‘12 Oct ‘12
4.0
UK -25 Source: Sensis 2012 Ratio TTM 0
Wal-Mart Stores PE 2007
Banking Health Ins Home Ins Mobile
Israel Amazon.com PE Ratio TTM
operators
Source: Y-charts 2012 Inve
ain Insu
Source: Engaged Marketing 2010
Source: Goog
So
33
Figure 10: Average Net Promoter Score Across Industries Index
Taking leadership in a digital economy 6
5
2
8. THE DIGITISATION OF OUR
ECONOMY CONTINUES AT PACE
Businesses have gone digital In some cases, social media and e-commerce
have allowed local speciality businesses to
The majority of small and medium extend their reach beyond their traditional
enterprises (SMEs) are now online, 60% catchment area as well.
have a web presence and the majority of
those sell goods and services on the web14. For example, Cuckoo Clock Nest
(cuckooclocknest.com.au), sells German
Australian SMEs are also embracing cuckoo clocks out of their shop in Eagle
social media. Approximately 27% of Heights Queensland, but have
internet connected SMEs are using some national reach through their web site.
Figure 2: Australian Googleof social media in their business
form search growth for banking,
insurance & investment
operations15. The ease to set up a Twitter Figure 4: Proportion of Australian SME’s that are online
800 account or Facebook page coupled with 70%
700
the cost effectiveness of this relatively 60%
600
cheap advertising and customer service
Google growth index
50%
500
medium is proving very compelling.
Percenatage
40%
400
30%
300
20%
200
100 10%
0 0
2007 2008 2009 2010 2011 1997 1999 2001 2003 2005 2007 2009
Years Years
Investment Banking Website Sell online
Insurance
Source: Deloitte 2011
Source: Google 2011
Figure 5: Australian SMEs taking orders for goods and services online, bydecade: letter volumes
Trends over a industry sector, April 2011
Index 140
against delivery points
4000 Bah
Wholesale trade 76
Broadband household penetration (%)
5.8 12
3400
120
Manufacturing
3000 5.6 72 11
Qa
Transport/storage 5.4 70 10100
Accommodation/cafes/restaurants
2000 5.2 62 Singa
9
5.0 80
Retail trade 59 8 Fr
1000 4.8
Finance and insurance 57 7
Aus
4.4 60
Communications/property/business services
15.59 4.2
57 6 India China
0
Jan’12 Apr ‘12 Jul ‘12 Personal
Oct ‘12 services 4.0 56 5 40
1
2
3
4
5
6
7
8
9
0
Building/construction 55
-1
Wal-Mart Stores PE Ratio TTM
-0
-0
-0
-0
-0
-0
-0
-0
-1
10
01
02
03
04
05
06
07
08
09
Amazon.com PE Ratio TTM
20
20
20
20
20
20
20
20
20
20
Health/community services 37 20
Source: Y-charts 2012 Delivery points millions
Mail items billions
0 10 0
Source: 30
20 40 50
Australia Post 2012 60 70 80
0 2
% of SMEs in Australia
Source: Sensis, The Online Experience of Small and Medium Enterprises 2011, October 2011
Note: Survey conducted in April 2011 Develope
Developi
Figure 1: Global broadband adoption and connection speed data
100 Source: Aka
South Korea
80 Switzerland
7 Japan Protecting the c
typically more c
(%)
Hong Kong
9. THE DIGITISATION OF OUR
ECONOMY CONTINUES AT PACE
The digital economy is The most significant additional digital
penetration is expected to be in financial
poised for 7% pa growth service, telecommunications, retail trade,
education and transport and logistics.
Assuming an active role of business and
government in encouraging the adoption Figure 6: Internet direct contributions to GDP
of digital services, the direct contribution 32% SHORT
of the internet to the Australian economy of the
Australian
try economy
is forecast by Deloitte to grow at 7% per
$50b
annum over the next five years, roughly
Retail trad
double total GDP growth16.
2011
60
And whilst the total direct contribution of
30 54
37
22 25
the digital economy is only $50b, a fraction
34
31 26 Arts and
of the26GDP, the indirect contribution to the
34
18
$70b
rest of the economy is fundamental.
22
Timing
Every industry will be affected
0
44 52 31 51 46
by this change, and all sectors will
48 45 58 43 48 49 60 54
2016
eventually be “more digital than not”.
17%
of the
Australian
ice r
d
fen r
erv fic
ing l
on
e
ica dia
SHORT F
ho sta
ish y
erv nd
ist and
lea ent
erv nd
erv te
de ato
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ad
se an
s
ure ices
ing
s
ce
g
ce
s
s
d f str
e Figure 6:
n
nti
Source: Deloitte 2011
ati
e s wa
ice
ice
ice
nin
un me
ns sa
es la
are t, po
tio
l tr
d c tm
ty/ istr
an
an fore
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us
ica cie
uc
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tai
an crui
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sta ir
hn l, s
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ele rm
an c a
ins Fi
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rea ent
cia
rea
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ss
H
bli
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ric
R
ofe
Pu
rec
Figure 7: Digital Penetration by Industry
Ag
dt
Pr
an
an
100
90
80 60
30 54
70
37
22 25 34
60 10 31 26
Digital potential
26 34
7 2009 14
6 18
50 6
7
40 22
30
51 48 43 55 48 44 52 31 51 46 48 45 58 43 48 49 60 54
20
10
12
0
11
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rvi ter
d
fen r
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ad
nin
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s
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tai
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d w or
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d w l, g
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9
d t ssio
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8
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Non-digital core
7 Additional digital penetration
Current use of digital technologies
6
5 Source: Deloitte 2012
1
-1
10
Taking leadership in a digital economy 8
10. IMMENSE DISRUPTION AHEAD
Just as the digital economy provides huge benefits to consumers and businesses,
it equally poses a threat to hitherto comfortable incumbents, changing goal posts,
raising customer expectations and opening the field for new competitors, globally.
It’s only a matter of time Eighteen industries are mapped with respect
to their vulnerability to disruption from two
Virtually every sector can expect to perspectives: the size of the impact and the
face changes rivalling those of the imminence of change.
industrial revolution.
As these changes will play out over many
Some industries may face extinction, years, timing of specific changes is hard
new sectors are being created, and others to predict.
are being transformed beyond recognition.
It is eye opening to realise that it took 48
According to Australia’s Digital Future years from the invention of electricity to the
to 2050 by IBISWorld17 15 different industry invention of the light bulb, 65 years to the
sub-sectors face extinction due to factors invention of the telegraph and 72 years to
such as size, international competitiveness, the invention of powered flight.
the potential for displacement, and technology.
The Internet Protocol (IP) which may be
Those 15 sub-sectors include: books and considered the “electricity of the digital
magazines, newspapers, directory and age” was invented in 1974, so is only
mailing list publishing, software publishing, 38 years old. Google was only launched
radio broadcasting, and free-to-air TV 14 years ago and Facebook is only
and cable TV. 8 years old.
Assessing the timing and severity of We’re only at the beginning.
likely impact, Deloitte’s “digital disruption
map” classifies about one third of the
Australian economy into the most pressing
“short fuse, big bang” quadrant.
9
11. IMMENSE DISRUPTION AHEAD
Figure 8: Digital disruption map
32% SHORT FUSE, BIG BANG LONG FUSE, BIG BANG
33%
Impact (% change in business)
50
of the of the
Australian Australian
economy economy
45
ICT and media
Retail trade 40
Finance
Education
35 Transport
and post
Professional services Health
30
Agriculture Recruitment
and cleaning
Arts and recreation
25
Real estate Government services
20 Utilities
Timing (years)
15
0 1 2
Construction 3 4 5
Wholesale trade
Accommodation 10
and food services Mining
Manufacturing
5
17% 18%
of the 0 of the
Australian Australian
economy SHORT FUSE, SMALL BANG LONG FUSE, SMALL BANG economy
Source: Deloitte 2012
Taking leadership in a digital economy 10
12. IMMENSE DISRUPTION AHEAD
LINKEDIN
DISRUPTING
THE CORPORATE
RECRUITMENT MARKET
Globalisation of competition
By definition, digital services are
more transportable across geographic
LinkedIn which as of March 2012, boundaries than their physical equivalents.
had more than 3 million members in Therefore domestic operators can expect
Australia, and over 500,000 members additional competition from global
in New Zealand, is disrupting the digital providers.
corporate recruiting market.
Relative to the established model No sector is experiencing this at the
of using corporate recruiters moment more than Australian retailers.
or placed advertising which can
both be expensive, inflexible and Already, 29% of Australian online commerce
have long lead times, Linkedin is conducted with international providers18.
offers an inexpensive, quick and
flexible alternative.
The proportion of online shoppers
mostly buying from overseas websites
LinkedIn has seen strong demand
has increased from 12 to 19%19.
and response for its recruitment
and marketing solutions services.
The high Australian dollar and increased
The company now has over 500
ability of global retailers to ship cost
Australian and New Zealand clients
effectively to Australia are two factors
using its Talent Solutions platform,
driving this competition.
with new customers including ANZ,
John Holland Group, OneSteel and
Mission Australia. Over 40 of the
Top 200 ASX companies now use
LinkedIn’s Talent Solutions to find
“passive talent” – where employers
can tap employees who may not be
actively looking to move.
11
13. IMMENSE DISRUPTION AHEAD
Figure 9: Top 15 online shopping sites accessed by Australians from home during June 2011
33%
of the
Australian eBay 4,297
economy
Amazon 1,623
Woolworths 1,359
Gumtree 905
BIG W 784
GetPrice Network 767
Shopping.com Network 737
Lasoo.com.au 721
DealsDirect.com.au 662
Catch of the Day 655
Myshopping.com.au 620
JB Hi-Fi 609
Kmart Australia 608
18% Ozsale.com.au 573
of the
Australian
economy FlyBuys 545
0 1,000 2,000 3,000 4,000 5,000
Source: ACMA 2011 Number of site users (000s)
Further innovation in business models
and logistics is expected to continue to
globalise online retailing. Tarazz (tarazz.
com) for instance aggregates US online
retailer sites into one interface and one
shopping cart, then consolidates the goods
into one shipment in the US and ships
that consolidated shipment to Australian
customers for one fixed fee.
Taking leadership in a digital economy 12
14. IMMENSE DISRUPTION AHEAD
FLICKR
COMPETING WITH FREE
Stuck in the middle
The digital economy lowers the barriers
to entry to a point where several hundred
million people create content and software The pioneering image hosting and
apps for free, or at least well below normal photo sharing site Flickr, offers users
rates of remuneration. the ability to release images under a
creative commons license allowing
Every minute, users upload almost other users to freely reuse an image.
100,000 tweets on Twitter, 7,000 images
on Flickr, over 600 videos on YouTube20, Flickr, which has more than
and there are now over 1 million smart 50 million registered members22
phone apps available21. and hosts more than seven billion
photos23 enables local photographers,
Increasingly, domestic incumbents of many working on a part time basis
many sectors may find themselves stuck with minimal gear and few overheads,
with high fixed cost structures between to compete on a completely different
global, massive scale digital competitors on cost base with the likes of Getty images
one hand and a large number of individual which has offices and employees in
contributors working on a totally different over 20 countries.
economic basis on the other hand.
13
15. IMMENSE DISRUPTION AHEAD
SURFSTITCH
It’s not about what you
own but what you do
In the old economy a company’s value
tends to be proportional to the value of Surfstitch.com is an online speciality
its assets. Whilst intangibles were always retailer founded in 2008. SurfStitch.
present, the majority of commercial activity com provides shoppers with over
required capital goods that could be valued 20,000 items and 318 brands including
and held on a company’s balance sheet. unique and hard to get labels, providing
significantly more choice than many
A digital business model on the other hand proprietary surf wear and
is much more reliant on the capability of department stores.
its people. The company’s value is more
likely to be a direct function of the value
Surfstitch is on track to reach revenues
it generates for its customers. In a digital
of $30 million24 and in 2009 Billabong
business model, there are few structural
International Ltd acquired a minority
advantages and lasting organisational
value is rare. interest in the organisation.
Many incumbents are still obsessed with According to Experian Hitwise,
building, buying and owning tangible assets Surfstitch is one of the country’s
and derive comfort from the perception of most highly trafficked e-commerce
“lasting value”. site, clocking up 30 million site
visits and over 250 million page
It requires a significant mind shift to views since launch.
appreciate the value of a business model
where the “assets” walk out of the door
every day and corporate leaders have to
create a work environment those assets
choose to return to the next morning.
Taking leadership in a digital economy 14
16. INCUMBENTS MUST RESPOND
Today’s corporations must respond on three levels to ensure their future:
transforming their core business to become more efficient; access new
revenue sources; develop new business models.
Allocating resources effectively requires The profound change is apparent when
good timing which is difficult in fast comparing a traditional above the line
changing markets. Due to the digital campaign with Search Engine Marketing
transformation of the economy the changes (SEM). The former has long planning lead
facing large corporations play out over times, involves several agencies (strategy,
many years, so are beyond typical planning creative, and media buying) is inflexible,
cycles and most CEO tenures. One thing has a relatively high minimum spend and
is for certain, though, being too late is delivers measurable outcomes only after
more costly than being too early. the majority of expense is already committed.
SEM, in contrast, can be deployed in real
Making the core business time by sales teams themselves with minimal
upfront cost, maximum flexibility and little
more efficient risk of failure.
Gone are the days when corporate
Overall, the cost of acquisition can be
executives could expect their operating
dramatically lowered for a digital pathway
budgets to increase year on year to keep
compared to the traditional model. Telstra,
pace with inflation and business growth.
for instance, has experienced up to 70%
Nowadays, leaders are expected to deliver
lower acquisition costs for a new mobile
more with less for the foreseeable future.
subscriber in its digital channels compared
And digitisation only accelerates
to commission driven third party channels.
these pressures.
Digital sales and marketing
Most sales and marketing departments
now have an eye on online sales and
digital marketing. However, few have
come to grips with the fact that they need
to undergo a deep change which means
that every marketer is now a digital
marketer, and sales models must be
optimised for digital channels despite
the fact that only a minority of sales are
currently delivered by those means.
15
17. INCUMBENTS MUST RESPOND
TELSTRA
CROWDSUPPORT
TRANSFORMING SERVICE
THROUGH THE CROWD
Digital customer service
Digital technologies promise radically lower
cost and more effective customer service
than traditional means.
Even with the rapid rise of the mobile web
In 2011, Telstra launched its
there is still a lot of life left in the traditional
Crowdsupport customer service
corporate website, provided it is designed
platform, a community forum where
for customer service. Most corporate sites
started life as “digital brochure racks” with users, including Telstra customers and
little real transactional service functionality. others, answer questions and help
Providing customers with rich, real time and each other. Crowdsupport entices
easy to use functions can both reduce cost community members with elements
and improve service by putting customers of “gamification”, including badges,
more in control of their affairs. status levels and user awarded
“kudos” points. The fast growing
Mobile applications and social media service already attracts over 60,000
platforms can provide effective extensions unique visitors per week, saving cost
to web based service portals. Aggressive and improving customer service.
adopters see significant reductions in their
call centre volumes and an overall drop in
crowdsupport.telstra.com
service cost as a result.
Collaboration
In addition to customer facing tools,
digital platforms can enhance how
employees collaborate and work more
effectively to service their customers.
The “social corporation” has been subject
to extensive debate and in some ways
there is no ideal model quite yet. One
thing is for sure, though, if an incumbent
does not already experiment with internal
networks and digital collaboration tools,
it will be too late to catch up later.
Taking leadership in a digital economy 16
18. INCUMBENTS MUST RESPOND
NIKE+
DIGITAL EQUIPMENT
Access new revenue sources Different approaches are described below
depending on a company’s risk appetite.
As industries transform, and traditional
sector boundaries shift, incumbents
encounter opportunities to generate Nike is a global sports equipment
new revenue. A manufacturer, for instance supplier which has built its success on
may start producing software that is product innovation and brand building.
complementary to its goods, and telco’s Nike has successfully innovated,
move into areas such as home security investing early in social networking
and “carrier billing”.
platforms to support the 2006
World Cup.
Initially, these opportunities are likely to be
relatively obvious and quite adjacent to the
core business. In 2010, Nike created a new digital
division, Nike digital sport, under the
However, the more exciting opportunities Nike+ brand. Nike+ which has grown
are likely to be less evident, and therefore to 7M customers launched innovative
require a specific effort and slightly higher products including its flagship Nike
risk appetite to be pursued successfully. fuelband which allows a user to
compare their activity to other contacts
Above all, it is important that an via the Nike+ social network, the
organisation’s customer base is open to fuelband retails for $US150 and sold
adopt new services under the same brand. out within days of its launch25.
So, a healthy core business is a necessary
foundation for the expansion into new
revenue sources.
17
19. INCUMBENTS MUST RESPOND
SCHIBSTED
FROM PRINT TO DIGITAL
Develop new
business models
Many incumbents can expect their
Founded in 1839 the Norwegian core business model to be challenged
publisher Schibsted has transformed in the course of digital transformation.
itself from a traditional publishing High prices, that were once justified by
business making 100% of its revenue high cost structures of physical assets
through print to a business that today and sustained by limited competition,
makes 35% of revenue and 55% of will collapse as low cost, intense
gross operating profit online26. It was just competition enters a market. Most
12 years ago that Schibsted made its often this occurs through substitutes.
foray into digital through an online
A powerful example is the rise of
classifieds venture.
email rapidly replacing physical mail.
Australia Post has seen a dramatic
Schibsted is utilising its established
decline in letter volumes of close to
expertise in content to move from being 9% over the last four years driven by
an established reporter of news to a electronic substitution.28
supplier of content that helps users
make commercial decisions. Business model innovation is difficult
and requires bold leadership but the
Businesses include lendo.se a finance rewards for success can be material.
broker and Letsdeal.se which brings the
Groupon model to Swedish consumers. Harvard Business Review analysis
suggests that 11 of the 27 companies
“Online services areas are charged with founded in the last quarter century
and having entered the Fortune 500
finding new revenue beyond the media
in the past 10 years did so through
house and online classifieds businesses –
business model innovation. However,
though it keeps those linkages in mind”.
this type of innovation is also relatively
– Ken Doctor, Nieman Journalism Lab27 rare with no more than 10% of global
corporate investment being focused
on developing new business models29.
Taking leadership in a digital economy 18