Both digital and transformation have become buzzwords at many organizations today. These are now the new frontiers that every business aims to conquer. Changing industry demands has not only forced many businesses to embrace these new frontiers rapidly, but has also urged others to prepare for the competition sooner or later. But, experiences so far show that it is a journey pebbled with unique and complex challenges, which the businesses have to cross in order to achieve their goals. Businesses, who are taking this initiative are generally asking themselves a simple question – ‘How can a digitally superior competitor disrupt the industry in general and their business in particular?’
These challenges and encounters are of a different kind and can vary from business to business and domain to domain. Therefore, it is quite imperative to have clarity on the business models and objectives of the transformational initiative, for the transformation to be successful. A digital business can be differentiated in many ways from a traditional one. Also, if the first part is achieved after a digital transformation initiative, then its effectiveness can be measured in using parameters like; new ways of generating revenue, data-driven business success, productivity enhancement, innovation etc.
If you are operating in an industry in which there are large scale perishable inventories (for example hotel rooms, travel seats, energy, education etc.), then you must transform digitally, in order to survive in the long run. Additionally, if your business is consumer-facing, which requires end users to buy your goods or services themselves, then the digital transformation theme must be reflected not only on the changes from vertical to vertical, but also at various levels of evolution of the service offering.
All in all, to transform digitally, one has to create new products, as well as, transform existing ones to suit the changing business priorities. Businesses either consume software products or sell them to generate revenue. Thus, IT is the most important business for all businesses today and it is increasingly being treated as sort of a profit-center in the traditional setups as well.
To cater to the needs of software product organizations (like; ISVs, OEMs, inborn internet companies and commercial companies), who primarily use software products to enhance productivity and customer satisfaction, Hexaware has designed Hi-SPEED (Hexaware’s Software Product Engineering in Enterprises for Digital) offering. Hi SPEED is an end-to-end Software Product Engineering (SPE) offering, which caters to various needs across the product development and sustenance lifecycle. This highly customizable offering is supported by industry best practices, tools & accelerators and years of experience in serving the best brands in the business world.
We, at Hexaware, understand the need for transformation and how important it is, when the disruptions are poised to play out over a longer duration. We are also equally euphoric on the digitalization of various business aspects. And that is why we live by the adage ‘Shrink IT Grow Digital’.
To understand the Hi SPEED offering and how it can help in your transformation initiative, do connect with me email@example.com or Tweet @mchinmoy