Optimising financial processes

Posted on:

Something to Consider: Digital Transformation and Healthy Skepticism

Something to Consider June 2018 4

Digital Mojo, Digital Transformation, Healthy Skepticism and Butterflies!

If you are a ‘healthy skeptic’ or ‘sceptic’ if you speak ‘British English’, this is for you.

If you are not, remember that skepticism is a fundamental scientific doctrine that asserts nothing should be accepted nor rejected without considerable evidence. I like this because Consider Solutions is built on the fundamental premise of not blindly following received wisdom. Does this make me a scientist? No. But you knew that!

HfS have recently published a report on much heralded “Digital Transformation” with some interesting statistics. I enjoyed Den Howlett’s post on the report, that is equal parts smart, straightforward facts, and some dry humorous commentary. Den observes on digital transformation, “if you can’t explain it in a way that can be characterized as the lifecycle of a butterfly then it ain’t transformation. It’s incremental betterment.”

His critique goes on to discuss the good and the bad of HfS report, from the business and the tech divide, changing company culture as well as the back office becoming part of the “One Office” customer experience.

His main conclusion, is an important one though; Much of what we’ve seen, however successful it may be, is incremental and not transformative in the sense that companies have only become more efficient or more effective at what they do. Their mindset hasn’t deviated totally from current economic imperatives.

However, even as a healthy skeptic, I am very aware that many of the organizations that we deal with are deep in the throes of fundamental business transformation driven by changes in markets, consumerization, uberization and products, all driven by changes in technology beyond their influence. We, as consumers and the ultimate arbiters of business success, are changing!

For thought provoking commentary and critique on the essence and challenges of “digital” and “transformation” either combined or independently, read the full article here​​

Our ‘Something To Consider’ snippets are framed as small, digestible, ‘dashes of insight’ around the pillars of what we define as “World Class Finance” – Process Optimization, Financial Control and Compliance, and Risk Assurance, all underpinned by technology enablement and integration.