BOSTON, August 2, 2017 – MEGA International recently asked IT representatives from Fortune 500 companies about the major business transformation issues for their enterprises. Concentration on the customer experience and business architecture were named the highest priorities for successful digital transformation.
The company hosted a meeting of vice presidents, directors, managers and chief enterprise architects, all responsible for enterprise architecture initiatives at their companies in the consumer goods, financial services, health care, hospitality, oil & gas and telecommunications industries.
MEGA asked the group to outline the primary transformation challenges their companies encounter and the steps they take to meet them.
The group pinpointed two overriding digital transformation challenges:
- there is an urgent need to innovate to meet fast-changing customer expectations
- a company’s internal ecosystem should be based on business architecture rather than IT architecture
Because companies must be customer-focused today to be market leaders, innovation and agility are key to staying on top of constant market shifts. To get to this position, industry frontrunners usually begin by streamlining IT, which allows them to:
- focus on the customer, which leads to business and product innovation
- improve company efficiency and effectiveness which, in turn, lead to agility
- use new business capabilities, created by innovation and agility, to stay ahead of competitors
While IT is the foundation for business success today, the group cautioned that transforming IT is only one step in preparing to meet future market challenges.
Another necessity is developing business architecture, an overview of the entire company ecosystem … its strategies, assets, processes and risks. From this high level view, an organization can:
- develop business capabilities that help it go to market faster with new products
- drive business transformation from a streamlined IT environment, creating agility for business groups
- eliminate problematic or isolated processes that may interrupt the customer journey and cause buyers to abandon their engagement with the brand.