Digital Business Transformation - Simplified 3x3 Framework
Athikom Kanchanavibhu, Executive Vice President - Digital & Technology Transformation, Mitr Phol Group
Athikom Kanchanavibhu, Executive Vice President - Digital & Technology Transformation, Mitr Phol Group
Once upon a time, in the rapidly evolving world of technology, the term "digital transformation" became the buzzword of the hour. However, as organisations raced to keep up with the changing times, they quickly realised that the journey towards digital transformation was not a straightforward path. With numerous complex frameworks available, it was easy to get lost in the maze of design thinking, value chain analysis, and business model canvases.
But as a seasoned professional with two decades of experience in various industries and roles related to digital transformation, I am here to share a simplified roadmap to guide organisations on their journey. The framework I present to you is the 3x3, a three-phase journey towards a successful digital transformation. Let's embark on this journey together and discover what each phase entails.
Phase 1 - Digitalization and Automation,the focus is on digitising business processes to optimise technology. This includes the establishment of the Digital Workplace and the deployment of a Digital Workforce. The data tools used in this phase are the Data Lake, Data Hub, Big Data, and Business Intelligence. The outcome of this phase is a boost in productivity and a reduction in costs and waste.
Let me take you to a busy office, where paperwork and manual tasks seemed to never end. Employees were bogged down by these tedious tasks, which left them feeling frustrated and overwhelmed. But then, a solution was found. It was time to embark on the first phase of digital transformation, Digitalization and Automation. The goal was to digitise business processes, optimise technology, and reduce costs.
The first step was to establish the Digital Workplace, where all business processes would be digitised. This included redesigning the processes to use digital technology, thereby generating a large volume of digital data. And this is where the Data Hub came into play, a centralised storage system where all the digital data could be stored, easily accessible for future use.
But that was not all, for the digitised processes to be effective, they needed to be automated. This was where the Digital Workforce came in, comprising of tools such as robotics process automation (RPA), Chatbots, and Workflow Tools. These tools helped to eradicate repetitive tasks, streamlining the business processes and reducing costs.
The results were staggering. Productivity skyrocketed, and the office was no longer bogged down by manual tasks. Employees could focus on more important tasks, and the organisation could save costs and reduce waste.
Phase 2 - Omnichannel, AI Augmentation, and Experience Management, the focus shifts to expand the digital engagement across multiple channels and utilise AI to provide personalised services. The digital tools used in this phase include Web/App/Mobile/Chat/Social Media/AR/VR/MR/Metaverse, and the data tools used are AI/ML, Customer Data Platform, and Experience Management. The result of this phase is the expansion of revenue from existing channels.
One day, a visionary leader of a company stumbled upon an idea. What if customers could engage with the company through their preferred channel and receive a personalised experience? This thought lingered in the leader's mind, and after careful consideration, they decided to take action. The leader gathered a team of experts in digital technologies, AI, and customer experience management to embark on a journey towards creating a new era of customer engagement.
The team researched various channels through which customers could engage with the company, including the web, app, chat, and even the metaverse. They then utilised AI and customer data platforms to gain valuable insights into their customers, including their preferences and behaviour. With this information, the team was able to personalise the customer experience, providing customers with a seamless and enjoyable experience every time they interacted with the company.
The outcome of this journey was impressive. The company was able to expand business opportunities and increase revenue from existing channels. Customers were delighted with the personalised experience and felt valued by the company. The visionary leader and their team had succeeded in creating a new era of customer engagement, where customers were at the heart of every decision.
The journey towards digital transformation may seem like a labyrinth, but with the help of the 3x3 framework, organisations can simplify the process and ensure that their transformation journey is a success
Phase 3 - Digital Business Model Innovation, the focus is on using digital transformation to create new business models, services, or platforms. The digital tools used in this phase include the Digital Platform, API Gateway, Blockchain, and new technology, while the data tools used are Data Insight/ AI-Powered Business Model. The outcome of this phase is the generation of new revenue streams from digital businesses.
One day, a wise consultant was brought in to help the company chart a path towards innovation. The consultant listened intently as the company’s leaders described their frustrations and the challenges they faced. After much discussion, the consultant presented them with a revolutionary idea: integrating their digitised and automated processes to create a new, innovative digital platform.
The company was skeptical at first, but the consultant convinced them to give it a try. The company set out to create their new digital platform. They combined their digitised and automated processes with the latest technology to create a platform that was unlike anything the world had ever seen. The result was a platform that not only brought in new revenue streams, but also allowed the company to remain at the forefront of innovation, ready to adapt to the ever-changing technology landscape.
The company’s employees, customers, and shareholders were amazed at the transformation. The company had gone from being a struggling, outdated business to a thriving, innovative leader in their industry. And all because they took a chance on a revolutionary idea and embraced the power of digital transformation.
In conclusion, the journey towards digital transformation may seem like a labyrinth, but with the help of the 3x3 framework, organisations can simplify the process and ensure that their transformation journey is a success. By following this framework, organisations can evaluate their current digital transformation journey, identify areas for improvement, and work towards realising their goals. So, let the journey towards digital transformation begin!
