Assessing opportunities and defining the roadmap
Individuals and businesses alike are embracing the digital revolution. Social networks and digital devices are being used to engage government, businesses and civil society, as well as friends and family. People are using mobile, interactive tools to determine who to trust, where to go and what to buy. At the same time, organizations are undertaking their own digital transformations, rethinking what customers value most, and taking advantage of the availability of vast and ubiquitous computing power to create new business and operating models primed for the digital age.
The challenge for business is how fast and how far to go – taking advantage of what’s newly possible for competitive differentiation and doing all this with an eye to what matters most to their customers.
Business value of Cloud
One of the most prominent drivers and catalysts for this digital revolution is the increasing adoption of Cloud technologies across industries. But the cloud is not just about technology – it is a paradigm shift.
Reflecting on your business, ask yourself what you would do if you…
• could give any of your customers access to any of your products and services anytime, anywhere, by any means?
• could have on demand access to unlimited computing and analytics power?
• could easily and seamlessly connect and collaborate with business partners, networks and customers wherever they happened to be?
• could inexpensively and rapidly develop and experiment with new products & services?
Cloud provides six key enablers that can fundamentally change an industry or expand the horizon of what is possible in business model innovation. These enablers ‘level the playing field’ by dramatically reducing barriers to entry, enabling companies to expand their scope, offerings, value propositions, markets as well as creating space for nimble new-comers to enter into an industry.
Cloud business value enablers
• Speed and adaptability – enables rapid prototyping, faster time to market, adoption of innovative ideas
• Scalability/elasticity – that enables fast scale-up or down of resources on-demand, limiting the effects of market volatility
• Cost flexibility – enables a shift from fixed to variable costs and transactional ‘byte-sized’ pricing models
• Analytics – enables handling massive internal and external unstructured data to garner insights
• Focus/strategic alignment – enables strategic focus on core competencies and ‘sourcing’ of non-core functions efficiently from the cloud
• Collaboration – enables creation of new value nets through customer/partner interactions, creating new ecosystems for innovation
Benefits of Cloud-enabled business model accelerator
• Understand how the Cloud is relevant in the context of business model
• Identify and prioritize business model innovation opportunities
• Evaluate the operating model impacts and requirements for change
• Understand the high-level cloud technology requirements
• Develop a preliminary list of partnering or collaboration opportunities