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Beales demise proves businesses need to adapt and transform
Posted on: 12/02/2020
Walking through Bournemouth town centre in early 2020, it’s impossible not to be shocked at the site of numerous empty shops; even more so now with the demise of the 140-year-old Beales department store.
Bournemouth town centre presents the grim reality of Retail a sector decimated by online competition and societal change. It’s easy to think about the Hotel, Travel and Taxi industries that have been changed forever by Digital “Disruption” and assume that it won’t happen to you. However, far more radical, intelligent and targeted change is coming.
A study by MIT found that companies that have embraced some form of Digital Transformation are already 26 percent more profitable than their peers. The market for Digital Transformation services is expected to grow at a CAGR of 22% over the next five years. So how will this affect you?
Sectors that aren’t already being disrupted won’t have to wait long for their share of the digital wave, as organisations of all types look to develop their business models.
The following critical elements have been identified:
Flexible Working & Cultural Change: Buying the technology is the easy part. User adoption and appropriate use can be the big problem. Organisations must ensure that the culture of the business adapts as the environment evolves.
Localism: Many businesses that adopt AWS or Azure are losing control of their data ownership and their cost base. This is a huge challenge for organisations struggling with resources and service complexity. There are however local businesses that offer Public cloud, but with localised support services and fixed prices.
The rise of AI, Analytics and Algorithms: Developments in Analytics and AI have transformed speech analytics, voice-to-text transcription and has led to reduced claims pay-outs in the insurance sector. Sectors like Contact Centres have undergone massive change in recent years.
Jake Eyre, Managing Director of The IT Department, a local IT Service Provider said “We should all take responsibility for our critical information. Global corporations are telling us that outsourcing responsibility for our infrastructure is the correct path in all instances, and I would challenge that. It is for this reason that we want to offer a local solution to local organisations; ensuring that our partners and customers retain control whilst realising the benefits that cloud adoption can provide.”
It’s a common misconception that Digital Transformation is about technology, when it is actually about putting your customers’ requirements at the heart of your business, whilst creating a future-proof, flexible, scalable and supportive environment for your employees.
For further information please refer to www.the-it-department.co.uk
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