Market Watch

Digital transformation can be a complicated and intimidating process. Company leaders should learn the six digital transformation stages so they know what to expect for their organization and can better plan for the inevitable disruption. The stages progress from business as usual , in which a company is at the beginning of its digital transformation, to innovative and adaptive , when the organization has finished its transformation and has embraced this change. Each step comes with its own challenges, which can include vendors resisting change and employees potentially objecting to the change, and the amount of time that each step takes will vary between companies. Here are the six digital transformation stages and what each involves. 1. Business as usual During the business as usual stage, the company operates normally. No effort is expended to look to the future and investigate how a digital transformation could improve the business. Company leaders do not look to industry and consumer trends to determine whether implementing new digital software could help the organization grow and become more efficient. To kick-start the journey, the company may need to experience losses like sales declines, high turnover, or higher-than-average operational costs, which will convince leaders […]

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As higher education moves into the second wave of Dx — aligning digital efforts with institutional success — here are five key trends to watch. "Is College Worth It?" It’s the headline that keeps popping up everywhere in higher education and national headlines. That’s because more than half of adults don’t think the economic benefits of a college degree outweigh the cost. With enrollment declining , and growing pressure to demonstrate return on investment, more institutions are rising to the challenge, making serious efforts to measure and explain their value. Next year and beyond, tech capabilities on campus will have a big role to play in determining ROI for students, as well as aiding colleges and universities in their institutional effectiveness endeavors. By leveraging new digital technologies and data-driven analytics, colleges are slowly but surely equipping themselves with the data and metrics they need to prove their value to stakeholders. Or, at minimum, they have begun looking into the tools and processes they will need moving forward to remain competitive and financially sustainable. These tools and processes include digital technology adoption to enhance and improve: affordability and access; student success outcomes; digital credentials (CLR); upgrades in finance and operations; […]

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For financial institutions, focusing on digital transformation has become extremely important. The shift to digitization accelerated during the pandemic when many people weren’t stepping foot into physical bank locations, keeping most of their interactions with banks virtual. PaymentsJournal recently sat with Whitney Stewart Russell , President of Digital Solutions at Fiserv, and Steve Murphy , Director of Commercial Payments at Mercator Advisory Group to discuss Fiserv’s recent study and the key findings from it, as well as the advantages that financial institutions may have, and why trust is crucial to their success. Digital Behavior Shifts Financial Institutions have historically enjoyed a high degree of consumer trust, but during the pandemic more consumers were drawn to the convenience that fintechs provided when it came to digital banking. “It’s interesting,” said Russell. “One stat that I often share with customers as we’re talking about this change is from a study. Millennials were asked who they would feel most comfortable banking with, and it actually swung to fintechs and big tech because of the convenience those organizations can provide.” “Maybe I don’t trust them as much, but I’m willing to migrate to them because of the convenience factor,” she said. Now the […]

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The Russian invasion of Ukraine is still far from over, but it is already clear that Ukraine has defended its independence and won the right to become a fully fledged member of the democratic world. This trajectory was further underlined in summer 2022 when Ukraine received official EU candidate nation status. Ukraine’s future prosperity is not just a matter of ending the war and moving toward membership of the European Union, however. Ahead lies the complex reconstruction of the country’s entire economy and national infrastructure. In order for this to succeed, there can be no return to pre-war conditions. Instead, Ukraine has a once-in-a-lifetime opportunity to reinvent itself as one of the most modern nations on the planet. Thanks to the unprecedented support of Ukraine’s international partners, today’s ambitious visions for a new Ukrainian economy are entirely feasible. This will in all likelihood be a green economy at the cutting edge of the digital revolution. President Zelenskyy had already set Ukraine on the road to a digital future long before the horrors of Russia’s full-scale invasion. In the early days of his presidency in spring 2019, Zelenskyy identified digitalization as a national priority and vowed to create “a country […]

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HCL Tech will serve as Mattel’s primary IT digital transformation partner for the next several years. (Photo: HCL Technologies/FB) IT company HCL Technologies Ltd. has bagged a digital transformation deal from U.S.-based toy manufacturing company and owner of children’s and family entertainment franchises Mattel Inc., the company said on Thursday. Under the deal, HCL Technologies will serve as Mattel’s primary IT digital transformation partner for the next several years. HCL Technologies will support Mattel’s future direction and continued digital transformation journey. "With operations in more than 35 locations around the world, it is vital to have an IT services partner that can match our scale and adjust for our growth as an IP-driven, high-performing toy company," Mattel chief technology officer, Sven Gerjets. HCL Technologies, President of Digital Business, Anand Birje said that the company will help Mattel with their business applications and enterprise platform modernization while shifting their underlying digital foundations to resilient, modern, and efficient cloud infrastructure. ADVERTISEMENT ADVERTISEMENT

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Des Morley. Image: An Post The company’s chief digital and technology officer talks about the challenge of harnessing data and the importance of a holistic approach when it comes to fraud prevention. An Post has been integrating technology into its services for several years, from IoT trackers across its supply chain to the more recent digital stamp last year. Having joined the company four years ago, Des Morley is continuing to lead its tech strategy as the chief digital and technology officer. Morley has extensive expertise in driving large digital and data transformation strategies, accelerating the adoption of digital change programmes both internally and for customers. Prior to his current post, Morley held digital and commercial roles at Eir, O2 Telefonica and American Express. He told SiliconRepublic.com his role is a strategic function that helps identify opportunities where digital, data and tech innovation can help deliver An Post’s business strategy and transformation agenda. “Not only are we transforming the way we do business, but we’re changing the perception of An Post through new or enhanced services and customer experiences and delivering on An Post’s ambition to have best in class digital customer connection and engagement.” ‘IT’s role needs to […]

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Danilo McGarry, one of the world’s leading authorities in digital transformation and one of the 50 most influential people in Artificial Intelligence (AI) in the world, will take to the stage as the opening headline speaker for Wales Tech Week 2023. Danilo, as a recognised international speaker, will share his expertise and valuable insight around how companies can use innovation and technology to transform digitally. Wales Tech Week 2023 , will be an international, hybrid Tech Summit bringing together some of the world’s best tech minds to learn, connect and do business. Danilo’s opening keynote will kick off the first day on Monday 20 March 2023 at the ICC Wales, Newport, Wales. As the Head of Digital Transformation, at Alter Domus (a market leading alternative investment business services company), Danilo leads the company’s digital transformation program that incorporates the latest tech and innovation the industry has to offer such as Ai, Automation, latest methodologies and tech tools supported by a market leading digital ecosystem. Danilo, who for the second year in a row has been ranked number 1 in the world for RPA / Automation, said, “I am excited to attend Wales Tech Week where so many cutting-edge and […]

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Crowdsource Innovation Digitalization is fundamental to facing the world’s biggest challenges, which depend on connectivity and digital skills, yet, connectivity inequality still exists. Among other key factors, digitalization can increase national resilience by bridging the digital divide for better economic growth and social inclusion. A paradigm shift in connectivity is taking place, evident through the rapid scaling of 5G, forecasted to reach 5 billion by the end of 2028, according to the latest Ericsson Mobility Report . Ericsson was founded on the premise that communication is a basic human need. Yet, today’s biggest inequality may be between the connected and unconnected. While we need to harness the power of digitalization to face a series of fundamental challenges – economic slowdowns, energy crises and a changing climate – connectivity is a foundation for digitalization, as are the skills to use digital tools. Around the world, mobile networks play a crucial role in providing connectivity, with more than 6 billion subscribers on mobile networks today – more than the number of toothbrushes. Let’s look at five areas in which digitalization can encourage the resilience we’ll need in 2023. Have you read? 1. Improved networks and coverage Connectivity is a cornerstone for […]

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Just weeks after a report from the National Audit Office (NAO) cast doubt on the ability of the BBC to build a digital-first public service media organisation and manage the future demands of viewers and listeners, the Public Accounts Committee (PAC) has also questioned the corporation’s capability in achieving its digital ambitions, with MPs expressing particular concern over any pushback on previously stated guarantees in how it could manage a vast increase in acquiring personal data on UK licence fee payers. The BBC first announced its digital transformation plan in May 2022, with, said BBC director-general Tim Davie , a commitment to build a digital media organisation that made a significant positive impact culturally, economically and socially, and one that would be a global leader. Moreover, this would be an organisation that put digital first when creating content, and one driven by “the search for truth, impartiality, outstanding creativity and independence”. To achieve these objectives, the BBC said it would reallocate money towards content that works in the on-demand world, such as the iPlayer on-demand, live and catch-up TV platform , making “tough choices” on traditional distribution and investing more in online services. Indeed, the BBC was planning for […]

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