I'm an Australian Business, What's Digital?
· Business are facing entirely different ways of engaging customers and carrying out their operations, thus creating exciting new opportunities as well as threats.
· In under 10 years, new customer engagement / marketing models, payment methods and currencies have emerged. Social x mobile x blockchain have allowed for greater customer participation and more seamless e-commerce.
· Digital leaders have the power to both appeal to more customers while driving down costs. Possessing skills such as customer behavioural analysis, automation, AI etc. Importantly, they are building offerings which customers love, wrapping complexity up in an intuitive user experience.
· McKinsey estimates digital optimisation can boost profitability by 20-30%, however studies indicate that most Australian businesses and employees do not feel empowered by digital change rather perceive it as a costly or as a threat to their current roles.
The threat is real…change is here…
· Retailers will continue to face margin erosion from global online marketplaces. The arrival of Amazon Go’s checkout-less service will challenge the incumbent duopoly of Coles / Woolworths.
· Changing regulations (Open Banking) and Fintechs are taking market power away from Financial Services firms and putting them more in the hands of consumers.
· Large businesses are starting to invest heavily in digital transformation but a vast majority of brick-&-mortar businesses in Australia are not digitally literate or equipped to market, sell and produce in the digital age.
· Many highly skills jobs such as accounting, law, financial advice are gradually being performed through digital platforms and automation (Xero, Cleardocs, Decimal RoboAdvice.)
The good news is...
· The technologies used by Uber, Amazon, Google etc. is now fairly cheap and accessible. As a smaller firm, you are nimble and able to adapt, however understanding where to start and having the right organisational mind-set is often a challenge.
· Mid-sized firms are more nimble than large corporates in adapting their management approach and culture.
Australian businesses will need help in:
· Building coherent digital strategies that fit with their broader organisational objectives. (Making digital something the entire organisation buys-into and bridging traditional organisational silos and blockers.)
· Bridging the digital skills gap and building a digital change ready culture.
· Customer understanding and adopting human centred design principles (vs product driven) and sustaining that with a scalable agile investment and delivery approach.
· Having confidence to transition from traditional to data driven decision making.
· Transitioning towards new digital capabilities available on the cloud (e.g. Big Data / Analytics)
· Achieving commercially viable applications of analytics, natural lanDigitguage processing and AI.
· In empowering our clients with the skills and culture needed for them to become digital leader in the way they see fit.
· To win, you need to put the customer at the centre of everything you do.
· Tremendous commercial value can be derived through applications of intelligent data analysis, AI and automation.
· That Australian businesses can benefit from practices and expertise normally only accessible to the largest or most technically advance firms in the world. (And big consultancies are too expensive for certain market segments.)
What we offer?
· Cognitivo Consulting seeks to help clients develop coherent digital strategies in order to apply relevant technologies and skills required to win in the digital age.
· We offer training and workshop-based advisory services that will help your firm develop a coherent digital strategy, take it to pilot using human centred design concepts and embedding that process in a scalable and governed manner.
· Additionally, we can upskill your workforce to be able to leverage your data to increase your organisational intelligence and help you realise commercial value.
Why us, what does Cognitivo bring?
· Experience, methods and technical expertise normally only accessible to large corporates (with deep industry specialisation in banking.)
· A strong delivery partner network to ensure your execution plan is put in the right hands.
· Commercial agreements that allow us to access some of the most experienced machine learning & AI resources in Australia.
For more information please contact:
Alan Hsiao – Managing Director – Cognitivo Consulting
T: +61 438 415 777E: firstname.lastname@example.org