I don't think digital transformation nowadays is about automation as such. But its about reinventing the business model of the company using the latest technologies of blockchain, AI, Data science...etc.
Automation is not a technology or a framework or guideline. Its a mindset. And so is Digital Transformation. Its a reformed avtaar of automation. To implement this mindset you need technologies like AI, data analytics, IOT etc..we are just beginning..
Finally, a clear and concise explanation without confusing terminology. Perfect springboard to now go forward and learn more about Digital Transformation. Thanks!
Spot on Eric. I like how brutally honest you are about having the right people and processes right BEFORE a digital transformation. My experience has been that some leaders believe the software is the problem and introducing a new ERP system will automatically solve the issues. If a client is unwilling to go through the business transformation it tends to be a red flag for whether the potential partner will be successful through an implementation. Thank you so much for sharing your experience with us. Better together, Tim [I work with an ERP solution for a specific industry (audiovisual and security integration) and we provide business transformation services prior to digital transformation]
Thank you. The background explored before establishing the meaning and the further examples were really clear. The link of DT to Business Transformation was easy to understand as well. Many thanks for this short, clear and concise video.
Eric, thank you for this video. I really appreciate the historical context of the term and reframing it into what it really means for businesses today. More and more I feel that business terms and buzzwords can obscure people not really understanding or having shared meaning. I just subscribed to your content, and I’ll look to see if you have other videos like this.
Should I pursue masters in Digital transformation Or look for an internship during my btech digital transformation.. Can u give me some suggestions if u have the experience... 🙏
Spot on Eric. As a consultant I can't agree more. Technology is only an enabler and it is constantly changing for the better. Adopting them in the right way to improve business process for real tangible benefit to stakeholders is the real transformation.
Excellent presentation underpinned by a high degree of brevity and crystal clear clarity. The key message on the primacy of man for effective transformation is well articulated.
Digital Transformation is not just about technologies like ERP, financial system and etc... Digital Transformation nowadays are how these kind of tools are integrated with the people and with the process of the organization or department. And, above all, how good you handle your clients, competitors (co-operatively), your data, your innovation department and how you increase and deliver your product/service value to the client
You're quite right that the "transformation" part is more crucial than the "digital" part. I was working at IBM under Lou Gerstner and it was a great experience to see how IBM turned around, from net losses of 8 billion to net profits of 3 billion. Today, to be more specific and thus effective, I'd talk about "computational transformation" to refer to how expert systems and AI can help people and organization become faster, better, cheaper. It is unfortunate that "computational thinking" is not a skill taught in colleges; it is profoundly transformative.
@@olajidealbert6728 @olajidealbert6728 You can start by reading everything about "computational thinking." It will structure your mind to think about how to solve problems in a way that can be replicated by ordinary humans or computers or robots. The movie The Founder, chronicling the creation of McDonald's is also a good start (notice how he stood on a ladder and drew, with chalk, the entire algorithm for the kitchen). Everyone needs t "computationally transform" their career or their business if they own/run one. Colleges, schools and universities that do not teach computational thinking, are doing a HUGE disservice to their students. Computational Thinking, coupled with computer programming, is a super-power but few people realize this. Today, with ChatGPT, you don't even have to be a good programmer, you only need to know the basics of a computer language and ChatGPT will code for you.
Thank you for sharing. I agree with you to putting people at the centre of the digital transformation as ultimately, they are ones who will need to perform. Unless their needs are met by user friendly, agile and accessible technology, businesses can never thrive. One other thing which is equally important is the element of governance which gives a framework to the organisation of how the technology and the business are aligned in order to create value for the organisation. An element which is frequently forgotten.
4:20 Couldn’t agree more on this. What is driving transformation today has little to do with the term ‘digital’. Digitalization has began since Internet. What is currently happening is Data Transformation, i.e. the impact to everyday life by data technology and business paradigm.
Thank you. Finally a clear and simple overview, aligned to what I have been describing for sometime. DT is just a buzz word its nothing new, its still IT enabling business transformation!
Eric, loved your way of describing such heavy buzz-words in such simple yet compelling terms, gonna watch your videos for quickly refreshing my knowledge. Keep up the good work mate!
Spot on. Technology is indeed the enabler for a business transformation. Unless redefinition of the business process takes place, modernising technology landscape is useless.
This is an absolute delight. I read a book with similar content, and it was an absolute delight. "The Hidden Empire: Inside the Private Worlds of Elite CEOs" by Adam Skylight
I wish you are my mentor. I Will be delighted and excited to work, learn and grow. My question: will a startup also need to use digital transformation tools ? Or when/at what level do they have to look for one, based on their business type?
Thanks a lot for so many videos and all of them are very informative, insightful and very presice. Do you have any specific video for Digital Transformation for Chemical (Manufacturing, Cement, Sugar, petrochemical etc) Industry?? If yes please share the link
Thanks for your video, but i just listen to your talk , i want to know more and more the digital port process and other sence video , can you make a video like this content , thank you .
Thank you. It was very informative. I'm planning to further my education (M.A) is this field and the insight you share is invaluable to me on this journey. Hope to see more of you soon.
Thanks for this video, and thanks for details, the Digital Transformation is not about technology only, we have to transform employee mindset and prepare our go live with good change & risk management
In History of Digital Transformation, you mention, paraphrased, "organizations begin to use new technologies and more robust financial software, particularly ERP, as spreadsheets and other technologies revolutionized". Can you point to a few examples?
Thank you for sharing your insights and more power to your team! I've read and downloaded your report and it's amazing how much details gave me a better understanding of what really is digital transformation.
I'm in love with this content. I recently read a similar book, and I was completely in love with it. "The Hidden Empire: Inside the Private Worlds of Elite CEOs" by Adam Skylight
So, it sounds like what he's saying is that we have been doing Digital Transformation all along??? This is really not a useful presentation, nor does it describe what the recent trend to Digital transformation is actually trying to achieve. The key thing in Digital Transformation is to focus on the Customer Journey and to use the data that you collect (or should collect) to provide insight to improve the Customer Experience. It is not about process, or efficiency, that is what we have been doing for the last 40 years and not being particularly amazing at! It's about creating new business models to help you fulfil the customer's needs, outside your normal core business. This is achieved looking at the Customer Journey from the customer perspective, not the business perspective. The buzzword here is to look from the Outside In rather than from the Inside Out. I hope people will not start to do 'Digital Transformations' based on Eric's consultancy, as it will keep you firmly in the 1990s and struggling to achieve any value. He's right about one thing, it's not just about technology, people have to change their mindsets, but that is hard when the consultant hasn't changed his.
Hi Eric. Great videos to follow which I recently discover. Any tips and ideas for those want to start consulting firm to provide digital transformation for small business ? Thank you
For a successful digital transformation, we need to adopt a digital mindset. In this episode of Engati CX, we talk to the Co-Founder & CEO of TransformX, Javaid Iqbal, about digital-first mindsets. Watch the video now: @
I disagree somewhat digital transformation is not only the digital but also services like customer experience, BI, Digital Strategy design, adapting digital culture, and corporate social responsibility software is the clue that brings it together.
Just the ouline but somewhat biased Views. Digital transformation means a lot for the organizations which are positively looking forward towards innovation and disruption. Erp is potentially one stepping stone of it and not the one of the patterns of it. Erp transformation and that too Cloud migration is inevitable.
Very basic and very poor. You have missed the point and the understanding of what Digital Transformation is all about. Digital transformation is the business journey into the new digital economy. Businesses need to focus on 4 main areas and they usually start with ‘Process Transformation’, which brings about opportunities to enhance one’s ‘Business Model’ that enable new powerful differentiators. They also need to be aware of ‘Domain transformation’ ultimately enabling they to compete in new segments never thought possible. But all of this can only be possible if they realise the ‘organisational/cultural’ transformation requirements. In my experience the main problems I see is that businesses just focus on Process Transformation as it improves efficiency ultimately improving profit, and then they stop. The word Digital is VERY important as people need to understand the different types of data. A business that creates an invoice as a pdf hasn’t really thought about the end to end process as that pdf document usually needs a human on the other side to interpret it, or they use document AI. You can scan a document which makes it hard for processes down the line to interpret it or you can digitize a document whereby other applications can access the data. Digital Transformation is all about end to end seamless processes, today most business processes are human to human, digital Transformation will enables you to evolve these processes to human to machine and in some cases machine to machine. To achieve this businesses will need to really understand their data and how to leverage it through every part of their business to maximise shareholder value.
Download the 2021 Digital Transformation Report here: resource.thirdstage-consulting.com/2021-digital-transformation-report.
Thank you
I don't think digital transformation nowadays is about automation as such. But its about reinventing the business model of the company using the latest technologies of blockchain, AI, Data science...etc.
Automation is not a technology or a framework or guideline. Its a mindset. And so is Digital Transformation. Its a reformed avtaar of automation. To implement this mindset you need technologies like AI, data analytics, IOT etc..we are just beginning..
Finally, a clear and concise explanation without confusing terminology. Perfect springboard to now go forward and learn more about Digital Transformation. Thanks!
Thank you, Ronan!
Great insight- like the little secret that transformation is more relevant then digital part of it.
I really appreciate this video. We're covering this in my IDLT program right now and I have a much better understanding now!
Spot on Eric. I like how brutally honest you are about having the right people and processes right BEFORE a digital transformation.
My experience has been that some leaders believe the software is the problem and introducing a new ERP system will automatically solve the issues. If a client is unwilling to go through the business transformation it tends to be a red flag for whether the potential partner will be successful through an implementation.
Thank you so much for sharing your experience with us.
Better together,
Tim
[I work with an ERP solution for a specific industry (audiovisual and security integration) and we provide business transformation services prior to digital transformation]
Thank you. The background explored before establishing the meaning and the further examples were really clear. The link of DT to Business Transformation was easy to understand as well. Many thanks for this short, clear and concise video.
Thank you for the feedback - I’m glad you enjoyed it!
Eric, thank you for this video. I really appreciate the historical context of the term and reframing it into what it really means for businesses today. More and more I feel that business terms and buzzwords can obscure people not really understanding or having shared meaning. I just subscribed to your content, and I’ll look to see if you have other videos like this.
Should I pursue masters in Digital transformation Or look for an internship during my btech digital transformation.. Can u give me some suggestions if u have the experience... 🙏
Short, Simple and Precise. Appreciated . Thanks
I agree with you 100% the transformation is about improving and or automating business process starting with a good use case. Great Video!
Great explanation. My company is going through this. Thank you for your simple, but thorough and accurate insight. Spot on.
Glad it was helpful!
Thank you Eric, best breakdown I've heard.
Glad it was helpful!
Spot on Eric. As a consultant I can't agree more. Technology is only an enabler and it is constantly changing for the better. Adopting them in the right way to improve business process for real tangible benefit to stakeholders is the real transformation.
Simple and accurate at the same time. 👍
Your video saved my day! Digital transformation makes now much more sense!!! Thanks
Excellent presentation underpinned by a high degree of brevity and crystal clear clarity. The key message on the primacy of man for effective transformation is well articulated.
Digital Transformation is not just about technologies like ERP, financial system and etc... Digital Transformation nowadays are how these kind of tools are integrated with the people and with the process of the organization or department. And, above all, how good you handle your clients, competitors (co-operatively), your data, your innovation department and how you increase and deliver your product/service value to the client
Now your talking!! Presentation was great & you can understand it
Thanks for the Clarity !!! I have been trying to get the definition for a very long time.
You're quite right that the "transformation" part is more crucial than the "digital" part. I was working at IBM under Lou Gerstner and it was a great experience to see how IBM turned around, from net losses of 8 billion to net profits of 3 billion.
Today, to be more specific and thus effective, I'd talk about "computational transformation" to refer to how expert systems and AI can help people and organization become faster, better, cheaper.
It is unfortunate that "computational thinking" is not a skill taught in colleges; it is profoundly transformative.
Can you recommend a book on computer transformation.
?
@@olajidealbert6728 @olajidealbert6728 You can start by reading everything about "computational thinking." It will structure your mind to think about how to solve problems in a way that can be replicated by ordinary humans or computers or robots. The movie The Founder, chronicling the creation of McDonald's is also a good start (notice how he stood on a ladder and drew, with chalk, the entire algorithm for the kitchen).
Everyone needs t "computationally transform" their career or their business if they own/run one.
Colleges, schools and universities that do not teach computational thinking, are doing a HUGE disservice to their students.
Computational Thinking, coupled with computer programming, is a super-power but few people realize this.
Today, with ChatGPT, you don't even have to be a good programmer, you only need to know the basics of a computer language and ChatGPT will code for you.
Thank you very much for this video
You are welcome
Love the fact that u r calling out standard semantics BS in current environment.
Thank you - very direct and simple!
Eric: I downloaded the 2021 report. Many thanks for the great information on digital transformation! I have subscribed to your content.
Great video, thank you!
Glad you liked it!
Very useful Eric!
Thank you for your sharing.
Very impressive thank you Eric 👏
Thank you for sharing. I agree with you to putting people at the centre of the digital transformation as ultimately, they are ones who will need to perform. Unless their needs are met by user friendly, agile and accessible technology, businesses can never thrive. One other thing which is equally important is the element of governance which gives a framework to the organisation of how the technology and the business are aligned in order to create value for the organisation. An element which is frequently forgotten.
4:20 Couldn’t agree more on this. What is driving transformation today has little to do with the term ‘digital’. Digitalization has began since Internet. What is currently happening is Data Transformation, i.e. the impact to everyday life by data technology and business paradigm.
Excellent explanation. Thank you
Excellent! Thank you.
I love your explanation. This is such a wonderful sharing.
Thank you. Finally a clear and simple overview, aligned to what I have been describing for sometime. DT is just a buzz word its nothing new, its still IT enabling business transformation!
Very relevant. Thank you for demystifying the terminology. Business transformation is what we at KISSFLOW are aiming to propel.
Thanks Eric, great information
Good elaboration ! Thank you Eric. 👏👏
Eric, loved your way of describing such heavy buzz-words in such simple yet compelling terms, gonna watch your videos for quickly refreshing my knowledge.
Keep up the good work mate!
Great video, clearly laid out the salient points in plain English and omitted all of the bullshit. Thank you Eric
very nicely understand..
Great explanation, dear Eric!
Thank you very much, great explanation!
Back in the days, it was called "Computerize" the process
Helpful. Appreciate
Makes perfect sense to call it Biz Transformation.
Spot on. Technology is indeed the enabler for a business transformation. Unless redefinition of the business process takes place, modernising technology landscape is useless.
Thank you, Aldo!
This is an absolute delight. I read a book with similar content, and it was an absolute delight. "The Hidden Empire: Inside the Private Worlds of Elite CEOs" by Adam Skylight
I wish you are my mentor. I Will be delighted and excited to work, learn and grow.
My question: will a startup also need to use digital transformation tools ? Or when/at what level do they have to look for one, based on their business type?
Thanks a lot for so many videos and all of them are very informative, insightful and very presice. Do you have any specific video for Digital Transformation for Chemical (Manufacturing, Cement, Sugar, petrochemical etc) Industry?? If yes please share the link
I would love to see the video to as I'm a chemist
Short and effective , very easy explanation Eric. Will subscribe to hear more from you n future !
Thank you. I am doing a research about this
Let me if I can be part of this..for me its learning opportunity..thank you
Eye opening
Thanks for your video, but i just listen to your talk , i want to know more and more the digital port process and other sence video , can you make a video like this content , thank you .
Thank you. It was very informative. I'm planning to further my education (M.A) is this field and the insight you share is invaluable to me on this journey. Hope to see more of you soon.
Glad it was helpful!
Really appreciate this video!
hi,
I want to know what the difference is between digital transformation and digital marketing? Thanks
Thank you Eric :)
very nice ,thanks
thanks, very simple
Thanks for this video, and thanks for details, the Digital Transformation is not about technology only, we have to transform employee mindset and prepare our go live with good change & risk management
Good stuff thank you Eric
In History of Digital Transformation, you mention, paraphrased, "organizations begin to use new technologies and more robust financial software, particularly ERP, as spreadsheets and other technologies revolutionized". Can you point to a few examples?
The first point of JD was You will be the part of APC Digital transformation team. What is APC here. I can't get it in Google.
Thank you SIR
Great Video Eric.
Very accurate
Thank you for sharing your insights and more power to your team! I've read and downloaded your report and it's amazing how much details gave me a better understanding of what really is digital transformation.
Thank you, Nette. I’m glad the content is useful!
Excellent insight....
Thank you!
What about Digital Marketing, besides ERP, CRM, etc?
Nice! Thank you.
How does a business properly start while adopting the digital era processes?
on point! 👍
I'm in love with this content. I recently read a similar book, and I was completely in love with it. "The Hidden Empire: Inside the Private Worlds of Elite CEOs" by Adam Skylight
So, it sounds like what he's saying is that we have been doing Digital Transformation all along??? This is really not a useful presentation, nor does it describe what the recent trend to Digital transformation is actually trying to achieve. The key thing in Digital Transformation is to focus on the Customer Journey and to use the data that you collect (or should collect) to provide insight to improve the Customer Experience. It is not about process, or efficiency, that is what we have been doing for the last 40 years and not being particularly amazing at! It's about creating new business models to help you fulfil the customer's needs, outside your normal core business. This is achieved looking at the Customer Journey from the customer perspective, not the business perspective. The buzzword here is to look from the Outside In rather than from the Inside Out. I hope people will not start to do 'Digital Transformations' based on Eric's consultancy, as it will keep you firmly in the 1990s and struggling to achieve any value. He's right about one thing, it's not just about technology, people have to change their mindsets, but that is hard when the consultant hasn't changed his.
Wow on the spot
Is digital transformation and modernisation the same ?
Thx
Hi Eric. Great videos to follow which I recently discover. Any tips and ideas for those want to start consulting firm to provide digital transformation for small business ? Thank you
😂😂
Brilliant !
Would you want to join us for a webinar Em for Europe and Middle East ?
For a successful digital transformation, we need to adopt a digital mindset. In this episode of Engati CX, we talk to the Co-Founder & CEO of TransformX, Javaid Iqbal, about digital-first mindsets. Watch the video now: @
جميل
I disagree somewhat digital transformation is not only the digital but also services like customer experience, BI, Digital Strategy design, adapting digital culture, and corporate social responsibility software is the clue that brings it together.
Just the ouline but somewhat biased
Views. Digital transformation means a lot for the organizations which are positively looking forward towards innovation and disruption. Erp is potentially one stepping stone of it and not the one of the patterns of it. Erp transformation and that too Cloud migration is inevitable.
Very basic and very poor. You have missed the point and the understanding of what Digital Transformation is all about. Digital transformation is the business journey into the new digital economy. Businesses need to focus on 4 main areas and they usually start with ‘Process Transformation’, which brings about opportunities to enhance one’s ‘Business Model’ that enable new powerful differentiators. They also need to be aware of ‘Domain transformation’ ultimately enabling they to compete in new segments never thought possible. But all of this can only be possible if they realise the ‘organisational/cultural’ transformation requirements.
In my experience the main problems I see is that businesses just focus on Process Transformation as it improves efficiency ultimately improving profit, and then they stop. The word Digital is VERY important as people need to understand the different types of data. A business that creates an invoice as a pdf hasn’t really thought about the end to end process as that pdf document usually needs a human on the other side to interpret it, or they use document AI. You can scan a document which makes it hard for processes down the line to interpret it or you can digitize a document whereby other applications can access the data.
Digital Transformation is all about end to end seamless processes, today most business processes are human to human, digital Transformation will enables you to evolve these processes to human to machine and in some cases machine to machine. To achieve this businesses will need to really understand their data and how to leverage it through every part of their business to maximise shareholder value.
I'm sure this will be a bigger hit than Bitcoin.
Digital transformation and AI are reshaping industries. Platforms like SmythOS simplify AI orchestration, making tech integration seamless.
Hello Eric - Can we connect?
LinkedIn is best, you can message me at Eric @ thirdstage-consulting.com
Detailed training including all basics but only in few minutes:
ua-cam.com/video/FCxR2_JnqTk/v-deo.html
What???
Totally wrong