WHY IT MATTERS: Digital Transformation
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5 #digitalTransformation areas for Boards via @McKinsey - Does your Board do that? Heck, does your *management* do that? Having senior executives with the interest or knowledge about the topics in ...

5 #digitalTransformation areas for Boards via @McKinsey - Does your Board do that? Heck, does your *management* do that? Having senior executives with the interest or knowledge about the topics in ... | WHY IT MATTERS: Digital Transformation | Scoop.it

Boards can add value to their business’s digital transformation in five specific areas.

Farid Mheir's insight:

WHY IT MATTERS: not sure many senior executives, with backgrounds in Finance or Law, have the knowledge or interest to raise those topics and show their limited understanding of the whole thing. Then again, maybe it's just me...

doddy frnces's curator insight, March 14, 7:06 AM
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2020 @Seraphim #SpaceTech sector map representing the most promising start-ups in the domain is not about #digitalTransformation ... or is it?

2020 @Seraphim #SpaceTech sector map representing the most promising start-ups in the domain is not about #digitalTransformation ... or is it? | WHY IT MATTERS: Digital Transformation | Scoop.it

Space Tech map for 2020 represents the most promising venture backed startups in the space domain and they segment the Space Tech ecosystem into 7 categories.

Farid Mheir's insight:

WHY IT MATTERS: can we consider space exploration startups as part of corporate digital transformation? Probably not but:

1) it is great to see this happening and very "startrek" 

2) some space solutions are bound to have an impact on companies - think spaceX #starlink constellation of satellites that give low latency high bandwidth internet connection worldwide

So yeah, I think it is ;-)

TheReferralGuyUK's comment, June 14, 2020 11:15 AM
ok
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Coronavirus will test remote work and remote learning - but most companies aren't built for the virtual world and thus need more than #technology to make it work

Coronavirus will test remote work and remote learning - but most companies aren't built for the virtual world and thus need more than #technology to make it work | WHY IT MATTERS: Digital Transformation | Scoop.it

Most companies and universities aren't built for the virtual world.

  • They're filled with managers and professors who value face-to-face interaction.
  • Workplaces exist precisely because sharing physical space fosters teamwork and sparks creativity.
  • And as Axios' Ina Fried reported this week, there are plenty of jobs that just can't be done remotely.
Farid Mheir's insight:

WHY IT MATTERS:  Sooooo true! we have many technologies to enable remote work, from videoconferencing to shared documents with collaborative editing. The problem is that humans want - need? - to meet face to face, to interact in meaningless fashion, to foster creativity, innovation, and develop a sense of community with fellow employees.

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Let's put #AI in perspective and consider how long it will take for AI to Exceed Human Performance - expert predictions vary widely & yet the impact within 10 to 25 years (our lifetime for sure) ar...

Let's put #AI in perspective and consider how long it will take for AI to Exceed Human Performance - expert predictions vary widely & yet the impact within 10 to 25 years (our lifetime for sure) ar... | WHY IT MATTERS: Digital Transformation | Scoop.it

The experts predict that AI will outperform humans in the next 10 years in tasks such as translating languages (by 2024), writing high school essays (by 2026), and driving trucks (by 2027).
But many other tasks will take much longer for machines to master. AI won’t be better than humans at working in retail until 2031, able to write a bestselling book until 2049, or capable of working as a surgeon until 2053.

Farid Mheir's insight:

WHY IT MATTERS: we hear too much about AI with many experts fighting hard to make the difference between AI, machine learning and deep learning. My summary is that AI is a long way in the future but that machine learning impacts will be well within my lifetime - 10 to 25 years from now. This is what I prepare my customers for in my strategic plans.

Taskiy's comment, February 23, 2019 1:46 AM
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Transform Episode #1 : Business Transformation “The 10,000 Foot View” from and pals at Wikibrands #wikitransform #digitalTransformation @doylebuehler @SeanMoffitt @Andrea_Kates

Transform Episode #1 : Business Transformation “The 10,000 Foot View” from and pals at Wikibrands #wikitransform #digitalTransformation @doylebuehler @SeanMoffitt @Andrea_Kates | WHY IT MATTERS: Digital Transformation | Scoop.it
A powerhouse squad of members of the Wikibrands Collective discussing some of the general discussions and debates on business and digital transformation. 
  1. What is “business transformation”?
  2.  What’s the role of technology?
  3.  What is business transformation trying to achieve?
  4.  What is the biggest success factor of business transformation?
  5.  What is the top barrier to transformation?
Farid Mheir's insight:

WHY IT MATTERS: a shameless bit of self promotion for our first webcast on digital transformation with other members of the wikibrands collective that is starting to take shape. Short, 20 minutes discussion on important topics to consider regarding digital transformation

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Digital transformation in Finance: Continuous Accounting is the Future of #Accounting and Modern #Finance

Digital transformation in Finance: Continuous Accounting is the Future of #Accounting and Modern #Finance | WHY IT MATTERS: Digital Transformation | Scoop.it

BlackLine automates complex, manual & repetitive accounting processes & enables companies to move beyond the legacy record-to-report process.

Farid Mheir's insight:

WHY IT MATTERS: finance and accounting remain manual and paper-driven. However, there are advances with robotic process automation and solutions that aim to make accounting a continuous process, not a once a month struggle. Sure looks to me like something we have done in software engineering years ago with continuous integration and deployment.

Vezta & Co.'s curator insight, August 31, 2018 1:36 PM

WHY IT MATTERS: finance and accounting remain manual and paper-driven. However, there are advances with robotic process automation and solutions that aim to make accounting a continuous process, not a once a month struggle. Sure looks to me like something we have done in software engineering years ago with continuous integration and deployment.

aanselmo.pina@gmail.com's curator insight, September 1, 2018 10:16 AM
pRUEBA
Marie Torossian, CPA, CGMA's curator insight, September 1, 2018 10:52 AM
How automated is your accounting process? I'm always looking for better integration of software to free up time for my staff to perform more analytics. Here's a nice read on Digital transformation in Finance and Accounting
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Beware of the digital cliff: digital transformation happens very fast and companies must prepare for that event, even though its timing is difficult to determine #exponentialGrowth #digitalDisruption

Beware of the digital cliff: digital transformation happens very fast and companies must prepare for that event, even though its timing is difficult to determine #exponentialGrowth #digitalDisruption | WHY IT MATTERS: Digital Transformation | Scoop.it

Digital transformation does not happen slowly over time, but rather abruptly after a long period of denial by industry leaders.

Farid Mheir's insight:

WHY IT MATTERS: this post from 2013 is still as valid today as it was 5 years ago. Why do so many companies continue to be in denial?

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Organizing for a Digital World - Bain Brief - Bain & Company

Organizing for a Digital World - Bain Brief - Bain & Company | WHY IT MATTERS: Digital Transformation | Scoop.it

How to adjust the operating model and revive stalled digital efforts. Specifically:

- Does the concept of an "organizational structure" still make sense? Or should we move to self-organizing, manager-less teams?
- Should we scrap the idea of careers and employee loyalty in order to attract millennial talent for "tours of duty"?
- Do we really need any specialists in house, or should we do everything through partners in the ecosystem?

Farid Mheir's insight:

WHY IT MATTERS: digital transformation is more than just implementing new technologies. There must also be changes in processes and people, often with different organizational structures. This article from Bain presents different alternatives, along with pros and cons for each.

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London Underground - the case study for resistance against business transformation via @ijgolding

London Underground - the case study for resistance against business transformation via @ijgolding | WHY IT MATTERS: Digital Transformation | Scoop.it
If you live or have been in London for the last two days, it will not have escaped your notice that something unusual is happening. Two trade unions who represent some London Underground staff have...
Farid Mheir's insight:

This post reminds of a too familiar issues when it comes to digital transformation: change management. We, digital-minded people, minimize it and often it comes back to prevent success.


It reminds me of the Apple pirate flag story (or at least my interpretation of it). When Apple was designing the macintosh, the team moved into a new building and planted a pirate flag on the roof. The idea was simple: identify the macintosh team as a rebel organization that would overtake everyone else. Even quite possible the "existing Apple", the company that made the Apple II. They recognized early that the mac would require a major transformation that could ultimately kill its existing business.


I find very few businesses ready today to make that same bold statement when it comes to digital transformation. Which often leaves plenty of room for disruptors to come in and steal the show. 

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How Ford Retail is bringing digital into the boardroom via @Econsultancy @chiefDigOfficer

How Ford Retail is bringing digital into the boardroom via @Econsultancy @chiefDigOfficer | WHY IT MATTERS: Digital Transformation | Scoop.it

Celia Pronto is Group Marketing and Ecommerce Director at Ford Retail, and her expertise is in working with multichannel businesses experiencing vast transformation. She will be speaking about Ford Retail's digital transformation, and the importance of customer experience. 

Farid Mheir's insight:

Key messages: digital transformation takes time, customer expectations are high and retailers have yet to meet them

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Auto industry digital transformation from newspaper and TV to online and social

Auto industry digital transformation from newspaper and TV to online and social | WHY IT MATTERS: Digital Transformation | Scoop.it

A significant shift to Internet marketing is transforming the automobile industry, and CF Search Marketing is helping dealerships across the country navigate the transition from television and newspaper advertising to search engine optimization and marketing, social media, inbound marketing and pay-per-click models of measurement.

...

"It's not the whole puzzle," he said of digital marketing for the auto industry. "We know (dealers) have X amount of dollars and we help strategize with them. The old-school dealers who don't embrace this, who don't understand that the next generation of car buyers are getting most of their information through their cell phones, won't be able to compete."

As a result of this transformation, many medium-sized and large dealerships now have Internet sales teams, and landing at the top of local search pages such as Google Places, Yahoo Local and Bing Maps has become a priority.

Farid Mheir's insight:

Great example of the needs for small businesses to embrace the digital medium or die. The large automakers have made the shift years ago but car dealerships are small businesses and they have yet to make the move. Looks like the time is now and that they need help tomake the transition, changing processes and I assume people as well...

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Thanks to the iPad, more executives are embracing digital disruption

Thanks to the iPad, more executives are embracing digital disruption | WHY IT MATTERS: Digital Transformation | Scoop.it
Since the debut of the iPad, a significant shift has occurred. For the first time, executives not only bought this new device, they bought into it. They became true believers.
Farid Mheir's insight:

It seems true that the ipad marks the pinacle of changes that have started with the public introduction of the Internet in 1994. An increased level of adoption by executives often means a clearer understanding of the opportunities.


Take for example the switch from paper documents to electronic ones in boardrooms. The impact of ipads is tremendous and over a few years most board of directors have switched to electronic distribution of documents, often on ipads. Not that it was not possible before to do it on laptop but ipads made it easy. With executive adoption you get a much faster transformation as they understand the benefits and want to have the electronic documents in their briefcase rather than the stacks of papers. 

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