Blog

2020-10-04 – Digital Transformation Splash (v1)

When enough people agree on one direction, the market enters a trend that could sustain itself for many years.  The cardinal concept that makes the free market run is simple: supply and demand. 

What is happening in the economy will be reflected in the stock market as certain businesses and industries boom and investors all want a piece of the pie, leading to increased demand for shares. If the economy shrinks, investors scurry to sell their shares which drives down prices as supply exceeds demand. These market forces and the stocks that follow their lead permeate every industry in the country.

The pandemic created a window for digitally enabled service providers to take advantage of the incumbent competition’s inability to address new customer pain points because it would destroy their current business.   

Although you can never predict with certainty when a market will ignite, it is essential that you understand in detail the specific ecosystem factors that impact your target customers’ willingness and ability to adopt your solution. 

Which companies will survive?

The companies that will survive and thrive will have three things in common:

  1. The pre-existence of enabling technologies
  2. Regulation on their side – think of telemedicine and the most recent updates to the Cures Act
  3. Ecosystems & Marketplaces – how we interact with technology and ability to personalize outcomes
Transform or be left behind

Unlike in the traditional economy, where companies require expensive physical investments to build out their business models, in the digital world, companies can grow rapidly with a smart combination of data, software, and ecosystem strategies.

With platforms we often think in layers; each layer building on each other and the interfaces mostly being at the boundaries. The benefit of being a platform company and not a product company is that it inherently allows you to connect ecosystems of developers and internal and third-party applications leading to:

Digitization and emerging technologies such as artificial intelligence, machine learning, big data analytics, and infrastructure services have not yet attained their full disruptive potential. More and more individual user and transactional data will become connected with different platform services and functions, with the potential to generate positive and negative outcomes.

The implications of COVID-19 have accelerated digital adoption. The increasing use of technology to work, play, and stay connected have shaped new digital habits. Now is the time to reset, pivot, and think big to transform your business operations to match the new digital expectations that have emerged. Our focus is to help businesses understand evolving consumer needs, so you can prepare for the future and respond to signals of recovery, as and when they surface.

Transform or be left behind.
Paul Pluschkell
A track record of growing businesses both private and public with over 25 years of executive leadership experience, Paul Pluschkell is a serial entrepreneur with multiple successful exits including MXNet, IXnet, Spigit, Global Center, and InnoStreams. Throughout his career, Paul has achieved clarity of vision and outstanding financial performance and successful capital raising. Known as a purpose driven global technology leader, Paul is passionate about building great organizations and teams that disrupt markets and create transformational change. Expertise in leading strategic business development, large scale organizational change initiatives, corporate strategy development for market differentiation and business unit transformations.