What is Digital Business Model and how to develop it?

Today with so many startups coming up every quarter, it is very essential that you know what is happening in your business, know which new revenue generation models you can adopt and analyze your cost structures, etc.

It is a one-page overview of your business with 9 building blocks. 

Are you considering going for a new digital business model? We will coach & guide you.

https://youtu.be/Q9IWVl92zco

Contact us today: info@goingdigital.in

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Digital Transformation Awareness Program by Going Digital

Employees are not always on board with your digital transformation. They either don’t understand the benefits, or they think you are wasting a lot of money for no reason.

You know that digital transformation is crucial for the future success of your business, but some employees don’t see it that way. Some might even be actively resisting it by doing things like printing out all emails and putting them into physical folders.

A company-wide awareness program will help to show them why you need to go digital and what the benefits to the business and their role will be. With everyone on board, there will be sure success.

Digital transformation is a key strategy for organizations of all sizes to gain a competitive advantage. Reaching Digital Maturity as a company means that your employees are digitally mature as well as your organization.

Digital Transformation is a mindset, not a program!

Do you want to become a most forward-thinking business by investing in digital transformation initiatives that help you 

. go to market faster, 

. build better products and services, 

. increase employee satisfaction and retention, 

. and offer more value to customers?

Digital Transformation Awareness Program by Going Digital is the answer!

Learn more for the gateway to success. info@goingdigital.in    

Cyber Security in Digital Age – Risks & Opportunities you need to know

 

What is Cyber Security?

Cyber Security means protecting your systems, networks, and programs from digital attacks which are aimed at accessing, changing, or destroying sensitive information; extorting money from users; or interrupting normal business processes.

In good old days crooks had to do it in person but in digital age you get get or may not even get a message " You have been hacked"

Common Cyber Threats:

Email Account Takeover: A cybercriminal hacks an email account and searches for emails involving correspondence between the client and their financial institutions. They learn about your habits so they can pose as you to your loved ones to steal money. 

Malware, Virus, Ransom: Malicious software is created to damage/disable computers and computer systems, steal data, or gain unauthorized access to networks. 

Phishing: Cybercriminals pretend to be a trustworthy source in order to acquire sensitive personal information such as usernames, passwords, social security numbers, and credit card details.

Identity Theft: Most people re-use passwords and usernames (aka ‘credentials’). Cybercriminals get hold of these logins, try them with financial institutions' websites to find matches, and then request fraudulent fund transfers. 

Spoofing: Masking the source of a communication (phone or email) to look like a reputable source (e.g. government, call within a company, etc.).

Call Forwarding: The cybercriminal forwards all calls to our home and/or cell phone number to their phone. 

Hacking: Someone enters your network and steal all the important information by using right credentials.

Security is everyone’s responsibility. Your Role and Responsibility is to:

• Safeguard email accounts
• Limit what youshare online
• Protect our clients’ assets
• Surf safely
• Be strategic with usernames and passwords

Here are five ways to adopt Cybersecurity in this digital age:

1. Ensure you have the physical control of your devices at all times and nobody is hacking into them

2. Use extra caution when using public Wi-Fi at the airports or stations

3. Use good email encryption client

4. Do not insert any unknown USBs in your laptops, computers

5. Report any suspicious activities to IT staff immediately

We will be happy to coach and guide you in your efforts to tackler Cybersecurity.

contact us at info@goingdigital.in

How to avoid risky roadblocks in the digital transformation journey?

Digital transformation is the new buzzword in business, and for good reason. It’s a process that can help you gain a competitive edge by leveraging technology that transforms the way your company operates and delivers value to customers.

But there can be several roadblocks that can kill your transformation programs. They slow down progress and make changes feel like work rather than something that is fun and exciting. So, what can you do to avoid roadblocks and finally get your digital transformation program off the ground?

The first tip is to ask for help early on in the process. Don’t wait until later when things have already stalled to reach out for advice from people who have been there before. This will help you identify any issues early on, which means you can find a solution quickly, saving you time and money in the long run.

The cultural change for companies is about their own people. To make the digital transformation successful, you need to engage your employees at all levels of the organization in order to gain buy-in and create energy around the changes that are taking place. Communicate the vision with proper direction & maximum transparency that covers "what is in it for me" for each employee.

Digital infrastructure roadblock appears when the organization does not have the right equipment and software so there is difficulty in digitizing business processes. Adopt the right digital technologies with help of your partners to avoid learning on your own.

Further, a bigger roadblock is the lack of resources to carry out digital transformation initiatives. Many organizations rely on mediocre performance employees to execute digital initiatives. So the key here is to hire 2-3 strong experienced profiles and build the junior team around them.

With so many stakeholder groups involved in a digital transformation, it can be difficult to know who is responsible for what and when they need to get things done.

By avoiding these common roadblocks and streamlining your efforts, you can ensure that your digital transformation is successful.

For help with any aspect of your digital transformation project, don’t hesitate to contact us today.

Digital Business Transformation Masterclass

 Are you a founder or co-founder of a start-up and want to create a digital-savvy firm?

You will get all the ammunition to make your organization a digital native.

. Digital Strategy aligned to business

. Digital Maturity assessment

. Customer Journey Mapping workshop

. Digital Business Model Canvas

. Digital Roadmap

. Digital Marketing Strategy

Read the comprehensive coverage of our Masterclass and register today at https://www.goingdigital.in/digital-business-masterclass

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BTN Article - USER EXPERIENCE DESIGN - A KEY TO DIGITAL TRANSFORMATION BY SANDEEP RAUT

Digital Transformation is moving any company into the future. 

Well, this statement is true for Disney, Nestle, Apple, Amazon and other leaders as they focused mostly on the customer/user experience.

Digital Transformation is in almost every c-level magazine, blog and whitepaper, and executives do not want someone coming in and disrupting their business.

If you want to reap the rewards of the digital revolution, a smooth, easy and positive user experience is vital.

People may not be getting technically proficient, but they have become more comfortable using their smartphones to download music, find the nearest movie theatre or pay for purchases. This raises the bar for user experience.

https://www.thebtn.tv/exclusive-content/article/user-experience-design-key-digital-transformation-sandeep-raut

HOW DIGITAL IS CHANGING THE WORKPLACE? BY SANDEEP RAUT Via BTN

My Article published in The Business Transformation Network (BTN) a thought leadership network, which allows experts in their field to showcase knowledge through the dissemination of ideas via videos, articles & events.

Remember the early 90s, when the mobile phones were not there. The only way to communicate to an out of office employee was landline phone or personal message via a colleague. Today there is no distinction between professional and personal lives as we are always connected.

In the age of Uber, Netflix and Airbnb disrupting traditional industries like Taxis, Video, and Travel; it is required for organizations that their internal work environment also has a digital disruption.

https://www.thebtn.tv/exclusive-content/article/how-digital-changing-workplace-sandeep-raut

How to get your employees glued up on the Digital Transformation

Digital Transformation allows your organization to adapt to a competing business environment and meet sustainable growth goals. 

We can change our technologies, our infrastructure, and our processes. But without addressing the human element, lasting change will not happen. If employees don't keep up, they will be left behind and the chances are that your digital transformation will fail.

Digital Transformation is far more than just providing digital gadgets & smartphones to employees. It requires a change in culture at an organization, at all levels from the CEO down to the lowest hierarchy.

Ultimately digital technologies are used by people, and success is directly dependent on how your employees are using that technology properly and harnessing its full potential.

Many employees are skeptical about the benefits of digital technologies, believing them to be a threat to jobs. In many instances, Robotics and artificial intelligence are perceived as being replacements for them. Such fears can easily translate into a lack of engagement with new technologies.

They need to feel safe in their roles, and to understand that digital transformation is intended to enhance their work life, rather than any threats.

Here are some of the ways to get your employees glued up on digital transformation:

Create a Dialogue & encourage open communication

Digital initiatives should start with evangelizing what, why & how of digital. Emphasize this information to get them on board right from the beginning.

Leaders should actively ask employees what they’d like to see in terms of digital improvements.

Establish an open door policy and proactive messaging from the executive team.

Address the concerns upfront

It’s important to anticipate as many questions as possible and have answers ready for them. With all the talk around digital, it is natural for them to wonder:

• Is my job safe in this age of digital & automation?
• How is this going to impact me and my co-workers?
• What if I don’t have the skills to perform?

Invest in Upskilling

It is critical to implement a thorough training program for employees, to learn about the new products & technologies that improve the end customer experience. Like customer journey mapping, it will be a good idea to create employee journey mapping, their day in office and address the pain areas.

Allow Fail fast & experimentation

Allow them to fail fast which does not affect their performance reviews. Employees can then freely experiment without fearing the consequences of mistakes. 

Empower Employees

If your employees have everything they need to do their work as best they can, they will feel valuable. Employees should be allowed to take some decisions in the best interest of customers and organizations. Employees can work remotely, use their own devices, and utilize digital tools to interact impactfully with consumers and each other. Make sure each employee knows how her work contributes to the overall success of the project.

        

Improve Employee Involvement

More often, the digital immigrants will struggle with the latest digital transformations technologies but their insight and experience are invaluable for young employees and organization. 

Address the questions like which tasks are taking too much of their energy?  What information would they want access to while serving customers? How do they think digital technology could make their jobs easier?

Celebrate even the small success

Celebrate each and every small success to make it visible at all levels to increase the morale of the team and show the value to other employees.

 

Ensure you have your people on board for this digital transformation journey, else you won't make it far!!

Interview with Sandeep Raut, Founder & CEO - Going Digital

Sandeep Raut – Founder & CEO – Going Digital

published by Onalytica

Key Topics: Digital Transformation, Analytics

Location: Mumbai, India

Bio: Sandeep is Digital Transformation, Analytics, Big data, IoT & Mobility evangelist with over 30 years of experience in IT Consulting and delivery

HOW DID YOU GET TO BECOME AN EXPERT IN DIGITAL TRANSFORMATION

I had started writing my own blog simplified analytics since 2011.  I read a lot about the digital transformation from various blogs and tweets to keep me updated. I have conducted several customer workshops on digital transformation maturity assessment, customer journey mapping & digital roadmap development.

Various publications like IDG, Onalytica, Thinkers360, Enterprise Management 360 have recognized me top 10 influencers and the thought leader in digital transformation.

WHAT AREAS OF DIGITAL TRANSFORMATION ARE YOU MOST PASSIONATE ABOUT?

Digital Transformation vision setting, Maturity assessment, customer journey mapping & multi-year multi-wave digital roadmap development.

WHICH DIGITAL TRANSFORMATION INFLUENCERS INFLUENCE YOU?

Ronald van Loon, Brian Solis, Dion Hinchcliffe, Daniel Newman, Mike Quindazzi, Vala Afshar, Evan Kirstel, Tamara McCleary

OUTSIDE OF DIGITAL TRANSFORMATION WHO ELSE INFLUENCES YOU?

Data Science – Kirk D Borne, KDnuggets

IoT – Evan Kirstel

HOW WOULD YOU DESCRIBE YOUR OFFLINE INFLUENCE

I have been a keynote speaker at various events including India Big data analytics summit and various B schools in Mumbai.

WHAT ARE GOING TO BE THE KEY DEVELOPMENTS IN THE INDUSTRY IN THE NEXT 12 MONTHS?

The artificial intelligence-based digital transformation will be key. Everything we do will have some aspect of AI.

IF A BRAND WANTED TO WORK WITH YOU, WHAT ACTIVITIES WOULD YOU BE MOST INTERESTED IN COLLABORATING ON?

Whitepapers, webinars, speaking.

WHAT WOULD BE THE BEST WAY FOR A BRAND TO CONTACT YOU?

email rautsan@gmail.com or call my mobile +91-9820037894

Ask the Expert: What are the most important elements to consider when undertaking a digital transformation?

CEO and founder of Going Digital Sandeep Raut tackles the obstacles and essentials companies must keep in mind with regard to digital transformation to Enterprise Management 360

Ask the Expert: What are the most important elements to consider when undertaking a digital transformation?

Gone are the days, when companies used to decide strategy and then execute it for the next five years as planned. 

Today company’s life on S&P 500 is just 15 years and it is further going down. Digital businesses like Uber, Airbnb did not exist before 2008 but now they are multi-billion-dollar poster children for digital disruption.

Many organizations today have realized that digital transformation is essential for their survival & success. But many of them forget that the focus of a digital transformation is not digitization or even technology, it is “THE CUSTOMER”.

Here are various aspects every business needs to consider when undertaking a digital transformation:

• Set a clear vision: Oftentimes, companies that are successful have painted a clear picture of what they want or need to be, when they digitally “grow up.” Vision is in line with the company’s business & growth strategy.
• Culture is a key determinant: We can change our technologies, our infrastructure, and our processes. But without addressing the human element, lasting change will not happen. Culture is the operating system of the organization. It is like air, it is there but you can’t see it.
• Leadership support: Most of the companies C-Suite is over 50 now and are digital immigrants. They have slowly adapted to web surfing, emailing, texting and the instant world of social media. Hence it is difficult for them to drive the digital transformation. They need to set the tone by collaborating with managers on designing an organization-wide digital strategy while encouraging ongoing innovation. A dedicated Chief Digital Officer is one way to go.
• Be customer obsessed:  With technology and customer habits changing so quickly, developing a deep and detailed view of customer behavior across all the channels is the foundation of digital success. Walk-in customer’s shoes, to identify instances where things could go wrong and address them quickly.
• Inter-Department collaboration: It is essential that all departments work together to bridge gaps, break down data silos, and make important connections. Absolute over communication within employees is a critical aspect to be covered. Ensure that all the customer touch points communicate with each other to have a single version of customer truth.
• Fail fast & Succeed faster – with the digital era, failure is accepted & it is seen as part and parcel of a successful digital business. Failure must be fast, and the lessons of failure learned should be even faster. It allows businesses to take a shotgun approach to digital transformation.
• Lastly, remember Digital is a long-term commitment. Don’t cut the investments & pull back employees on billable roles in just one quarter saying it’s not working. This is the mistake most of the companies are doing. Nurture the efforts like a newborn baby as she takes over a year to walk on its own. Have the patience to see the results.

Difference between Digitization and Digital Transformation

I have seen many businesses saying they have embarked on digital transformation while in reality, they have just digitized some of their processes.

There is confusion over the two terms, Digitization & Digital Transformation.

The two terms are often used interchangeably when their actual meanings are totally different. In fact, they point to two very different ways of responding to disruptive technology.

Let me talk about Digitization: It is doing the same things, differently.

To digitize is to convert analog data into digital form. If you scan physical papers into electronic files, converted typewritten text into a digital form, switched from cassette tapes to MP3 files, or moved from old style camera film to digital photos, then you have digitized your data. It also means automation of manual processes like filling any application form by hand to entering data directly on digital media like iPad or web portal.

We now browse the internet for information, take pictures with our smartphones, and send emails from our laptops. This is digitization.

Digitization has made communication faster and easier and opened up new channels for real-time information. In the industrial sectors, digitization has involved the application of new technologies to existing business models to make them operate better. 

Digitization is doing what you have always done, but using technology to make it more efficient. The business model does not change, but operational efficiency is improved.

Now let us talk about Digital Transformation: It is transforming business activity with technology. Becoming digital is a totally different exercise from digitization.

DX is the process of changing existing business models with new digital technologies like APIs, Analytics, Mobility etc. 

It goes deeper, creating new strategies and processes which lead to a new and better way of providing value for your customers, doing things faster, easier, and smoother. E.g. moving from snail mail to real-time social media or chatbot. 

Businesses can use DX to expand into new markets, offer new products, and appeal to new customers. It is the process of moving to a digital business.

DX also means using the data collected from digitization for actionable insights and then changing the way we do business.

Digital transformation is not a one-time action, but a continuous process. It brings in the new business models and it will change the way business is carried out & it will go a long way in satisfying their end customer, which is the very purpose of being in the business.

Digitization in Fitness Industry

Remember as children we used to play more physical games & ground activities like football, cricket, and even some local games. As we grew we were more physical in our daily activities which had helped us to be physically fit.

But in last few years digital has changed this picture. My children are glued to iPads, smartphones most of the time. Digital technologies have brought a tremendous shift in the way we spend our daily chores. We order our foods online, we call cabs on our smartphones, no banks branch visits are required now as we do most of the financial transactions online, and in the age of Whatsapp, nobody uses the post to send a news to anyone.

This convenience and comfort have brought a sedentary lifestyle & health issues, but more people are wanting to live a healthier lifestyle without burning a hole in their wallets

The fitness industry is also adopting this digital change.

Some global fitness franchises launched an on-demand streaming service in the USA and UK that lets people access the group’s workouts online any time from a computer, tablet or smartphone.

Instead of going to the gym now, consumers work out on their own time in their own locations, but trainers and coaches can access their workout data from anywhere, providing quick feedback and tips to guide them along their fitness journey. The exercises are also available in different levels of difficulty: simple, medium and difficult.

Digital devices are more and more playing the role of a personal trainer. Anyone who wants to train just needs the right fitness app.

Freeletics Bodyweight app is more than just a training program. They have a community of over 12 million Free Athletes spread all over the globe. The app provides users with a unique social platform that allows Athletes to connect, motivate and inspire one another and achieve and share their progress and fitness goals.

An athletic apparel brand Athos has a full-body suit fitted with tracking sensors connected to an app that shows which muscles are firing and how much an exerciser is exerting himself or herself.

Another company, Focus Motion, is building products that connect with a smartwatch to automatically track motion and give real-time feedback on an exerciser's form or pace.

Equinox was the first chain to partner with Apple when it launched its Healthkit smartphone app in June 2015. The app syncs with members’ wearable technologies to track fitness data, analyze member behavior, and provide users with recommendations, tips, and content to improve their fitness routines. The digital coach in Equinox’s mobile app uses artificial intelligence to learn customers’ habits and keep them engaged.

Fitbit, Apple, Garmin, Samsung, Nike & and Adidas are among the major suppliers of digital fitness market.

Fitbit tells you you've completed 80% of your daily 15,000 steps goal. So you walk around the house and make an excuse to go to the shop to achieve your goal.

The Nike came out with Fuelband, a fitness-oriented tech device which helped consumers to set fitness goals, monitor their progression, and compare themselves to others, all with integration into Nike+ online community and phone application.

For those who still prefer to visit the gym have been helped by wearable technologies, which give real-time feedback on the workouts. From shirts to shoes, wearable technology is now embedded in several types of fitness apparel. Profiles for runs or cycle rides are recorded using the GPS function. The data for distance, speed, duration, calories burnt off and heart rate is captured to support the design of personalized training programs 

Modern-day gyms are now equipped with workouts that are digitized for their clients to get more out of their exercise equipment. Going digital enables the user to choose the level of difficulty of their workout just by pushing some buttons.

Today sensors are inserted into pieces of clothing like socks, shorts, leggings, sports bra, etc. These are designed to improve the efficacy of wearable trackers, making them highly discreet and increasingly accurate. The algorithms are mimicking a personal coach, tracking activity and technique while simultaneously picking up clues to predict the possibility of injury.

Holofit uses the virtual reality technology that transports its users from boring reality in a fitness center or hotel gym to real-life destinations, sports events or imaginative worlds. Users get to work out in space or underwater, in the Grand Canyon or in the historic recreation of Babylon, making progress while forgetting they are working out at all.  They have also added the gamification and sports competition through its SportPlay application so you can take part in competitions like Tour de France.

Social media platforms like Facebook and photo/video sharing platforms like Instagram are making a trend of posting your fitness efforts and encourage your friends and families to participate.

There is also a growing trend of companies offering workplace wellness technologies and programs that are helping achieve better productivity and reduced attrition.

Further, this smart data is being used by the Insurance industry for wellness and prevention of disease.

The fitness industry has come a long way with digital.