The volume of digital payments worldwide is soaring and will reach $5 trillion by 2020. This growth is fuelled by new payment systems that are designed to work seamlessly with mobiles, in-app methods or via browsers. There has been huge innovation in this area by the banks, software giants like Apple, and fintechs. This growth creates new opportunities and risks for the retail banks. Continue reading “Digital Payments – Opportunity or Threat”
There is a myth that if an organisation begins takes steps to use digital technologies, the problem of IT complexity will resolve itself. In the digital age, organisations expect to connect with customers and partners in new ways; give greater access to information and services via new channels; and quickly launch new products and services.
In the digital age, technology role in business transformation is becoming more and more significant. Many transformation initiatives are heavily dependent on technology enablement. In order to support the business transformation agenda, IT leaders have two challenges; readying the operations and developing the needed IT capability. Continue reading “Is Your IT Ready to Support Transformation?”
Mobile technologies have become the most rapidly adopted technology in the history. Mobile technologies are changing lives everywhere. Globally, the mobile technologies have become a main engine of economic growth. High R&D, declining costs and explosion in available applications is driving this growth.
“Mobile penetration is increasing, the costs of access and devices are coming down, and more and more people in both developed and developing economies are using the mobile Internet as their first—and often their only—means of going online.”
Most of the IT projects impact the way work is being done in the organisation. In order to get value or benefits from these changes, it is necessary that these system or process improvements are actually utilised and become part of the new way of doing work. This requires change management.
Transformation projects such as core systems replacement or even major outsourcing have a significant impact on the way business operates in an organisation. Here, change management becomes integral to the project success. While most IT and other senior executives understand the need for effective change management, in reality many projects fail to deliver the full potential due to the mistakes in change management. Continue reading “Why Change Programs fail?”
In a recent TED talk by BCGs Yves Morieux suggested six simple rules to manage complexity and improve agility and effectiveness. These rules are worth sharing. The world is getting increasingly complex. There are more demands from customers, shareholders and regulators. There is ever-increasing competition. The change is occurring faster and it is getting difficult to create value. Organisations typically respond by adding more rules, structures and scorecards. This, in, turn just increases complexity and makes it harder for the staff to actually do the work. Managers often spend 40% of time writing reports and the remaining time in coordination meeting of one type or another. They often have several performance criteria to meet. Boston Consulting Group (BCG) complexity index has gone sixfold since 1955. Continue reading “Six simple rules to manage complexity”