Traditionally, information technology (IT) has played the role of keeping business processes running efficiently behind the scenes. In today’s digital age, IT has moved out of the back office to permeate nearly every aspect of people’s business and personal lives – reinventing business models and changing the way we live, work and connect. The capabilities of IT are now so powerful that it is poised to enable the “digital transformation of businesses” – a disruptive force that opens the door to unparalleled opportunities, and sustainable competitive differentiation.
Digital technologies today are affordable enough to become operational at scale across businesses. The unprecedented pace, scale and accessibility of technology-driven innovation plays a pivotal role in the digital revolution of today – let alone what tomorrow will bring. The convergence of technology megatrends such as Cloud, Mobility, Big Data and the Internet of Things (IoT) is fundamentally transforming the way businesses operate, innovate, and serve changing customer expectations. Companies that find ways to harness the potential of these technologies across their value chains will be able to create new revenue streams, better customer experiences and more efficient operational models.
Example of Technology TransformationAccording to Gartner, “Digital business is the creation of new business designs that not only connect people and business, but also connect people and business with things to drive revenue and efficiency. Digital business helps to eliminate barriers that now exist among industry segments while creating new value chains and opportunities that traditional businesses cannot offer.” Gartner’s analysis predicts that by 2020, three quarters of businesses will be digital, or have digital business transformations underway.
Today’s organizations are subject to near-constant change – from technology advances to geopolitical, economic and environmental disruptions. Digital transformation is one means to keep pace with a dramatically changing business and technology landscape. It enables businesses to become hyper-aware, predictive and agile – with intelligent processes that respond in real-time to any situation, and the ability to build on data-driven insights for improved decision-making. A surge in connections among people, processes, things and data is making this possible. As these connections multiply, traditional boundaries between industry sectors continue to blur, giving rise to ecosystems of interconnected businesses.
A truly connected world is emerging before us. Technology adoption has become the “Common Minimum Denominator” for everyone. Organizations that leverage technology as a differentiator, and adopt it to reinvent existing business models, processes and culture will become disruptors of the future. This is where Rane t4u’s core strength lies, and is continuing to make a difference. With a strong global footprint across 18+ countries, Rane t4u has a first-mover advantage in the legacy of innovation. The company operates in a broad spectrum of business streams cutting across various industry verticals to provide IoT-enabled platform solutions that solve real-world problems with an ecosystems approach. The result is a digitally transformed business.