For example, in the past when PayPal sent payments via email, they had significant time to ensure regulatory compliance. 5. By Chet Kapoor, Chairman & CEO of DataStax. As the figure below shows, five components are needed to execute an organizations digital transformation: Digital transformation starts with people, which is a useful reminder that whenever we talk about data especially valuable data there are humans at the end of it. Think about analog and informal small businesses, such as a stand in a Turkish bazaar: the salespeople have a great deal of access to, and knowledge of, their customers and clients, but its all trapped in their minds. Wesfarmers Ltd (ASX:WES) is planning for Bunnings growth to be fuelled by e-commerce. The online sites, social media space and mobile phones are each a different touch point where we can change the customer experience. He was heavily involved in the transformation under Wesfarmers and has maintained a high-profile and impactful role during and post-acquisition. Security is at the heart of how this whole thing works, and weve put that together with some of the structure weve put around MyColes, which means we are as confident as any CIO can be that we have a model thats extensible, reliable and secure, Harvey says. A company may begin its digital transformation journey by digitizing processes and as it matures, rearchitect processes entirely. Although Targets performance has been below expectations, Kmart has budgeted $15mn for technology and digital enhancements aligning with growing consumer expectations and changing shopping behaviour. Typically, the CIO or CTO should lead this pillar of digital transformation and the KPIs to indicate success are access to new tools, reduced maintenance costs, improved employee satisfaction, and better business performance. Or what if it tells you that customers dislike a certain product how will this influence your product development and marketing strategy? As team members, its about how we can help innovate in areas that matter to both our customers and the wider team. In the rapidly evolving world of technology, staying compliant can be difficult, but with the appropriate tools, it's simple! Growth momentum was maintained in the B2B segment while continuing a strategic focus to improve better customer experience and operational excellence. Except this is not really the final step after you evaluate results, you need to go back to the data. Since I have been able to take the team under my wing, we focus very much on being part of the business, rather than a service provider. One of the key drivers for the IT function is to live and breathe the important values at Coles a focus Harvey readily admits wasnt there when he joined the group. Also read: Woolworths Announces $700 million Technology Investment. Closes in 19 days. Here's how. The OnePass program provides members with additional benefits and convenience when shopping with the Groups retail businesses. Equinix Australia's latest report on tech skills highlights the growing reskilling initiatives across Australian IT landscape, Westpac joins a consortium of industry experts towards delivering "responsible AI". Digital and omnichannel capability is a critical area for other retailers as well. 25+ search types; Win/Lin/Mac SDK; hundreds of reviews; full evaluations. I wouldnt trade that for anything because it helps keep the role real. This is more than just swapping analog processes for digital ones; it is about rearchitecting the organization and the digital operations to serve customers better. Technology is a focus for the business. This will support the growth and performance of our retail divisions while providing new growth opportunities for the group.. By building the right cloud technology and orchestration today, we have options for the future. As a startup Id love cloud, but Coles is not a startup. IT should be helping marketing evolve the platforms, tools and assets it can deploy in the digital space, making it easier to exploit the opportunity to be had in digital, he says. But to enable the instant payments demanded in todays market required rearchitecting the PayPals organization, merging once separate divisions for payments and compliance into one entity. Bunnings, Kmart and Officeworks continue to deliver topline growth for Wesfarmers while Target was below expectations. Announcing the half-year results, Managing Director Rob Scott said: pleasing progress continues on Wesfarmers digital strategy. It requires IT architects and time, but promises up-to-date platforms with more effective tools to serve customers at lower cost of maintenance. Now hes running the show, thanks in part to a keen understanding of how IT can. However, if the brains behind the worlds and Australias- biggest companies think it is worth it, you should definitely be looking at how to digitise aspects of your business. During the half-year, Wesfarmers also continued to build out its data and digital ecosystem. Thats where I think some of the smarts around event orchestration is going to help as well.. "If we relied critically on large datasets, instead of removing human decision making and making decisions easier, sometimes you end up just reinforcing those biases.". While IT plays a pivotal role in informing people of new trends, technologies and opportunities, its crucial we make sure the solution, as it is formed, delivered and then run, has to be owned by the right person and right function in Coles.. To measure whether they are succeeding, the bank carefully analyzes their ability to increase customer retention in the core financial services business but more importantly, for the new businesses, measure number of daily/monthly average users, engagement, and cross-selling opportunities. Following Wesfarmers' acquisition of the Coles Group in 2007, Harvey became IT group general manager across a team of more than 700 staff. On top of that, weve changed the digital interactions. This leads to costly upgrades. But all four pillars are important to digital transformation, so they may happen in another order. In the same way, a London cab driver or a Parisian bistro waiter might have in-depth knowledge of their customers and what they want, or a small business founder might know the 20 employees that make up her workforce rather well, without needing much tech or data. In other words, you will only transform when you have managed to change how people behave, and how things are done in your organization. To learn more about how we can help your business, contact us today. In other words, you will only transform when you have managed to change how people behave, and how things are done in your organization. In the final stage of the process, you can evaluate results or impact. And in that process, you enhance and develop the people skills that are needed to produce a great synergy between humans and technology. To get that right we really need to invest in getting our foundations correct - and thats where PagerDuty comes in, to make sure we are adhering to our SLOs [service level objectives] and our SLAs [service level agreements], he said. An equally important consideration was the buy-in by Microsofts senior engineers in Australia and in the head office in Seattle. It is useful to remember this, because the real benefits from technology are not hard (i.e., cheaper systems or infrastructure), but soft (i.e., capturing valuable data). That said, there is one thing that hasnt changed namely the fact that all of this is just the new version of an old task or challenge every leader has always faced throughout human history: to prepare their teams and organizations for the future, and create a better future. Having the right leader, resources, and measures of success for the journey towards each different pillar can contribute greatly to success. For many organizations, persuading experienced employees or senior managers to deploy new tech tools is a rather similar experience. Recognize the emotional side of digital transformation. But even getting to the insights stage is not enough. The investments in data and digital transformation continue with an additional $10mn budget with the data and analytics initiatives enhancing productivity and inventory optimisation. This showed the company had learnt the lesson of the dangers of rushing headlong into a project without sufficient preparation, as happened with the Bunnings expansion in the UK. Big data and analytics are becoming mainstream and vital to business operations and customer relations. Wesfarmers formally acquired the online retailer Catch for $230 million in August 2019. Its problematic when companies decide to embark on a digital transformation agenda without having a clear definition, let alone vision, for what it means. One business strategy that Wesfarmers has adopted, Lowthorpe explained, is a one-day program focused on data analytics for leadership teams that teach them about data analytics, including the differences between advanced analytics and business intelligence reporting. AI can make predictions, and data can give us insights, but the so what part requires actions, and these actions need the relevant skills, processes, and change management. Although data has been hailed as the new oil, just like with oil, the value depends on whether we can clean it, refine it, and use it to fuel something impactful. Digital transformation is not a destination; it's a permanent state of evolution. Most large companies have invested substantial cash in what is generally labelled digital transformation. While those investments are projected to top $6.8 trillion by 2023, theyre often made without seeing clear benefits or ROI. In early 2022, the Club Catch subscription program was rebranded and repositioned as OnePass. In support of this, recent research from IDC indicates that organizations which had begun an ERP cloud migration as part of a digital transformation initiative prior to the COVID-19 pandemic fared far better than organizations that didnt. Were not spending the time arguing who should be doing what.. While Rucinski did not share how the ATO has dealt with changing its culture to align with this thinking, he did say the government organisation was working on processes that were not yet "front-line ready". Lenovo Late Night I.T. The reality is the most important noise in my working life is the beep made every time someone scans a product at our checkout, he says. The goal here is to use digital tools, including more advanced technologies such as AI, 5G, and IOT, to streamline business growth. Read:From big data to AI - Where are we now, and what is the road forward? Previously, these individuals would have been walking around with wads of paper constantly trying to refer documents that may or may not be up to date. Dont wait for something to break and then learn, he counselled. Catch is an online marketplace which commenced operations in 2006 and was acquired by Wesfarmers in August 2019, bringing highly complementary digital retail and fulfilment capabilities. We work hard on ensuring we are one of the top participants working in-store, and we continue to get very high engagement scores.. The authors outline four pillars of digital transformation: IT uplift, digitizing operations, digital marketing, and new ventures. ", Google Cloud, Golden State Warriors ink analytics, cloud partnership at new arena. Also read: The top Supply Chain Trends according to Gartner, Also read: Coles re-platforms digital channel and doubles online capacity. In addition, there are obvious things you can do around leveraging the loyalty and Fly Buys programs, which are both exceptionally great value for our customers. I think setting up PagerDuty right allows us to reflect what those business services are which are critical, what are some of the components which make those business services, and how we align it back to the right people when there are issues, which is critical in this day and age., Madan said that OneDigital is also using PagerDuty to manage its incident response faster, and in doing so, show its internal customers - the other Wesfarmers businesses - that we are reducing the risk [because] we can respond to issues faster.. Typically, the CMO leads this initiative and should focus on KPIs such as return on marketing investments, reduction customer acquisition costs, and generation of a large amount of valuable data that can be used to acquire new customers and better serve existing customers. Most businesses have these opportunities at hand but seizing them requires a greater digital maturity than for an IT uplift or digitizing processes. Except this is not really the final step after you evaluate results, you need to go back to the data. We interviewed four global leaders responsible for their organizations' digital transformation, each in different business and technical functions, industries, and geographies, and found that they were already approaching transformation in this waybut without a clear language and framing to guide them. But even the best technology will go to waste if you dont have the right processes, culture, or talent in place to take advantage of it. OneDigital broke cover in April, and has since gone on to unveil OnePass, a subscription program that consolidates products from across Wesfarmers' retail brands, and offers member-only prices as well as free delivery on many items. You have to enjoy it to do this job and youve got to be constantly testing whether youre pushing technology because its cool, or if youre pushing solutions and options that will make a difference to the customer and team.. 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