As digital makes its presence felt across all domains, Nitin Seth’s book ‘Winning In The Digital Age’ takes you through effective steps to adopt and adapt to digital.
As the pandemic hit the world, organizations started thinking more digital than ever before. Systems and processes became digital, and it is safe to say that businesses continued to thrive only because of the efficiency and reliability of the ‘digital’ within the organizations. Going forward too, organizations are looking at transforming their businesses digitally. While organizations understand the objective, the path that leads to achieving the objective is blurry.
In his book, ‘Winning in the Digital Age’, author Nitin Seth opines that to guarantee success, digital transformation needs to be holistic in nature. He shares valuable lessons from his experience of working with reputed consulting firms in different sectors and leading digital transformation across industries, He provides the readers with a detailed 7- step framework that provides an in-depth understanding of the digital era and how to successfully lead digital transformation.
Use as much technology as you can
Technology is ever-changing and in the VUCA (Volatile, Uncertain, Complex and Ambiguous) world, this translates into a growing need to stay updated, both in terms of digital and entrepreneurial culture. Nitin shares the example of how one of his Telecom clients from the US stated they have information about 130 million different consumer segments. Hence with the explosion of data, the responsibility of moving ahead by using automation to analyze data is the only way forward.
Instead of playing catch up with digital advancement, companies need to speed through in solving problems and building scale for long-term capability enhancement.
Capitalize on digital omnipresence
Digital transformation is important across all industries. He specifically emphasizes how industries like Payments, Enterprise solutions, Telecom and Wealth Management will benefit tremendously from Digital Transformation. The case study of Brazil’s Nubank that increased its user base from 9 million to 20 million in just one year in 2019 is shared as an example. This shows how the future of banking is dependent on rethinking products/ services for customers, offering personalization using AI, and redefining operations.
Identifying the industry-specific insights, understanding changing customer needs and improvising respective business domains is key to securing the future.
Focus on technical integration as much as possible
Digital transformation starts with customer experience, data, analytics and expands into Artificial Intelligence (AI), Blockchain technology which will be the future. Each of these technologies will be the building blocks for a successful Digital Transformation. AI will play a key role in bringing about hyper-personalization across all customer touch-points. Unlike the common opinion on Blockchain’s rise and fall in association with Bitcoin’s popularity, Nitin sees its immense potential for sectors like Financial services and E-Governance.
Instead of augmenting the existing technology, the integration of digital in every aspect of business will be the game-changer.
Create and empower Global Delivery Centres (GDCs)
Global Delivery Centres (GDC) present as service companies and in-house centers are common across organizations. These centers have the potential to go beyond their dedicated roles and become a driving force for revenue and innovations. The author explains these in detail in the book on how these could be leveraged as a secret weapon in driving value to the end customer.
In order to empower GDCs, an entrepreneurial mindset with thought leadership and innovation will be needed.
Ingrain technology into organizational DNA
As each chapter unfolds through these points, the author raises a valid question on the role of functional leaders to lead digital transformation. Given the immense potential of ‘digital’ to impact the entire organization, it needs the involvement of every department. Drawing parallels with the inclusion of women, Nitin says that 80% of consumer buying is influenced by women, which makes gender diversity not an HR agenda but a business agenda. Similarly, the role of HR is critical in being the driving force to ensure everything falls in place for the transformation to occur.
Right from defining the company’s values to modeling by leaders, all should be in.
Create your own leadership style
The leaders’ belief in the transformative ability of digital will pave the way for the actual transformation. While each person brings their own style of leadership, he shares a 5C framework which may come in handy for great leadership.
Cause, Care, Courage, Communication & Character, are essential aspects of leading teams across major initiatives.
Find your purpose
From his years of corporate experience, Nitin advises on finding your own sweet spot when it comes to purpose in life. He draws inspiration from giant Sequoia trees for lessons on longevity and greatness. It is an interesting comparison of how their distinct ability to survive and continuously grow can be used to learn resilience, excellence, and hope for the digital era.
The intersection of passion, building unique skills and seeking opportunities to serve important needs can help discover your purpose.
Why read this book?
This book brings a comprehensive approach to understanding the need for digital transformation, the advantages of making the shift and most importantly how to make it successful as an organization. Nitin discusses technology in detail across all the sections to emphasize its importance across all stages of the transformation. Instead of taking a function-wise approach, the 7 Step framework approach provided is relevant to function or business leaders across domains and sectors.
If you are looking to adapt or drive digital in your team or organization, then this book is for you.