December 201919 The only constant is change, so how can companies keep pace with change? Over the past decade, I've come to learn of a few secret tactics that help facilitate and catalyst a company's transformation journey. The word `transformation' has become synonymous with almost every company looking to evolve and thrive in the digital economy. 2018 was a year of unprecedented change as platform companies continued to disrupt traditional industries. Amazon gave us a glimpse of the future of retail through Amazon Go and Apple worked with Zimmer Biomet to demonstrate how wearable devices are improving patients' journey through continuous data monitoring and delivery. If companies focused purely on the technology aspect of transformation and neglected the organisational changes, the most important component would fall through the cracks. Some companies are guilty of putting on "digital lipstick", where they introduce a new front-end system or fancy mobile app. We had to take a different approach that brought about an inside-out change, where we had to think beyond hardware and to include our heartware ­ our people. This is why we believe our employees are the most critical drivers of change. In addition to equipping our people with digital skills, we saw three critical elements as vital to our transformation journey.1. Being Digital to the CoreWe started by reimagining how the bank could operate to provide different customer experiences and looked towards global technology giants for guidance. Instead of comparing ourselves to other financial institutions, THE SECRETS BEHIND TRANSFORMATIONBY DAVID GLEDHILL, CIO, DBS BANK (SGX: D05)David GledhillCIO NSIGHTS
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