I recently read a fascinating report by The Global Center for Digital Business Transformation (DBT Center) on the concept of a Digital Vortex and how it is redefining industries and the world of work. I will briefly explain what it is, why it matters and where we can see evidence of the Digital Vortex in action. A third of companies surveyed are adopting a ‘wait and see’ approach to digital transformation and are consequently at risk of being part of 4 of the top 10 market incumbents predicted to face digital displacement in the next 5 years. Some are already crumbling and losing out to more agile competitors. It all sounds very ominous doesn’t it? The important thing is that it doesn’t have to be; it is actually incredibly exciting! Instead of clinging on to the edges of the Digital Vortex and hoping desperately not to get sucked in and ‘disrupted’, isn’t it time to embrace a kind of digital revolution? Those who embrace digital will see rapid performance improvement, growth and vast gains in market share. We now have a chance to reshape the world we work in and create the future workplace that we want. As was commented on my last blog – Technology makes our personal lives better and more interesting, why shouldn’t it do the same at work?’
What is a Digital Vortex?
The report describes the way in which digital disruption is redefining the workplace in a process that closely resembles a kind of vortex. A vortex rotates and inevitably forces everything inwards towards a digital centre where everything is digitised and old manual paper based processes are replaced. The vortex can draw seemingly unrelated technologies together in a ‘combinatorial’ process where completely new technologies and processes are created and evolve. No industry is immune; it will force all organisations to innovate, take more risks and adapt because barriers to entry are broken down and larger companies wont be able to rely on their previous defences. Currently, 43% of companies have not addresses the risk of digital disruption, and many are taking a ‘wait and see’ approach. All companies can take advantage of the benefits and grow exponentially by joining the 25% who are proactively digitising.
Why should I care?
Digital disruption is already happening across industries and departments with remarkable results. See: ‘Tech decides whether companies post big quarters or big misses and high-performing sales teams are more than twice likely to be heavy tech adopters than others.’ The study conducted by Salesforce found that the sales landscape has changed dramatically, with high performing sales teams more likely to use technology, especially analytics and mobile. The study of more than 2,300 sales leaders also found that the high-performing sales teams are 3.5 times more likely to use sales analytics compared to under-performing teams. High-performing teams are twice more likely to adopt technology compared to moderate and under-performing teams. One of our own innovative customers uses our technology to power a mobile ‘Sales Toolkit’. This empowers Sales Champions to lead by example, publish positioning videos and top sales tips to improve the performance of the whole team. It allows them to deliver Sales Excellence in a multimedia format, ensure that their field sales people are always informed on the move. They can switch to automatic podcast mode and listen offline on the tube on their way to a meeting, share their video update afterwards and continue the discussion in Salesforce Chatter. All this is backed up with powerful analytics and business intelligence.
Instead of being swallowed up by this Digital Vortex, we must embrace and equip ourselves for the future workplace. The opportunities for innovation are beyond anything we have ever seen before. Digital disruption sets to challenge values that may have previously been successful. The most successful companies will be those who adopt and draw great benefit from new technology as a component of fundamental changes in culture; with more focus on wellbeing, engagement, flexibility, autonomy and openness. Exciting times indeed, I am glad to be a part of it and cannot wait to see it unfold!