dis·rup·tion ( disˈrəpSH(ə)n/) – disturbance or problems that interrupt an event, activity, or process.
There’s a whole new conversation happening at this year’s OpenText user conference around Digital Disruption and the emergence of the Information Enterprise: What it is, how to manage it, and why it offers unprecedented opportunities for everyone involved. Despite the negativity of the definition above, disruption is not necessarily a bad thing for your organization…if you’re prepared.
The only way to compete in the midst of this whole digital disruption thing is to evolve, transform, and fully embrace digital technologies. Period. At this year’s Enterprise World, our Industry experts will discuss how you, our customers, can utilize next generation OpenText solutions to transform and take advantage of digital disruption rather than just being…disrupted.
This new platform promises a better way to work, and it helps customers meet the changing nature of work with:
- Better Engagement– relentless focus on the customers
- Better Productivity – maximize output from employees, teams, and the ecosystem
- Better Innovation – foster visibility and business processes
- Better Insight – make well-informed decisions
- Better Control – mitigate risk for your organization and its takeholders
Read on to see what our Industry Strategists have to say about Digital Disruption and how OpenText can help…
Life Sciences Jaleel Shujath
Wearable devices, 3D printing, the Internet of Things, Personalized Medicine, Digital Healthcare. These concepts and technologies are rapidly transforming the way how therapies are discovered and manufactured and how healthcare is delivered. Nowadays, it’s not uncommon for counseling to be delivered via a smartphone app and it won’t be long until prosthetic devices will be created while the patient waits. Maintaining regulatory compliance with the need to innovate is a delicate balance indeed. But how can Enterprise Information Management solutions help your company navigate these treacherous shoals, to determine the right course of action, to manage risk appropriately in the face of ever increasing regulatory scrutiny, to ensure that patients are safe? These are tough questions to answer and for each company the answer can be different, but the answers are there. Here are some steps to get started:
1. Decide to evolve sooner than later – evolution happens when an organism responds to the environmental pressures around it and adapts accordingly. In life, adaptation can be random and not every response will work. In business, you have the power of information to calibrate and guide you.
2. Partner with your vendors – have open discussions with your vendors about your long term goals and find out what your vendors goals are. We’ve already begun to do this with many of our existing and prospective customers. You may learn that you already have the technology in house, but haven’t evolved its use within the organization. Explore your options.
3. Develop your best ideas – you know you can’t do everything but there are low hanging fruit that can deliver quick results and drive efficiencies. Often, this gives you the breathing room and confidence to tackle that Big, Hairy, Audacious Goal.
4. Use your data – analytics comes in three major buckets: reporting, proscriptive, and predictive. These all have great potential in any enterprise if used effectively to ground your organization in reality and take some of the subjectivity out of risk analysis.
If you’re coming to Enterprise World, look for me at the Disruption Zone or at our Life Science User Group meeting, to discuss some of your initiatives. If you won’t be at Enterprise World, email me at jshujath (a) opentext.com to start the conversation. Let’s evolve!
Public Sector Patricia Burke
For decades, government organizations have pursued the goals of “effective” and “efficient” by streamlining and consolidating operations. During that same period, however, the world has changed dramatically. Computers, emails, electronic documents are the way we all work and that work takes place in an increasingly smaller, highly converged world. It’s a world where all organizations, including the former government monopolies, are in competition for public engagement and to contribute to their countries’ prosperity and security. Yet, for many, the paper-dependent bureaucracy still exists.
Fast-moving technology developments now enable governments to make moderate investments to rationalize their existing IT landscape and move aggressively to truly digitize operations—creating interactive web capabilities and online transparency and moving beyond those to take advantage of opportunities for connectivity at all levels with citizens. Connectivity with inanimate objects through the IoT is broadening governments’ capacity to rethink how to use this new capabilities to move to a new paradigm of service delivery and regulation.
So for government organizations, the challenge is huge—materially transform the way we work to move to Digital Government. But government agencies are not alone in that pursuit. OpenText has committed the last several years to acquiring top-of-the-line technology and invested in developing the market’s most advanced fully-integrated technology stack to enable that transformation. We help you at every stage to move from paper to digital: to engage and manage interactions with citizens personally; to connect documents and email to your system transactions; to store, govern and analyze videos and other rich media; to find the right information in seconds; to analyze it and use analytical dashboards to monitor performance. If that sounds like an agency of the future that your government should embrace, come share that
vision at Enterprise World next week.
Financial Services and Insurance Susan Feinberg and Gerard Gibney
Corporate bankers face an unprecedented set of challenges as they attempt to fend off digital disruptors while also meeting the demands from clients for better and faster integration, real-time transaction processing and enhanced transparency. This is further complicated by an ever-evolving regulatory regime that requires continual investment in systems, processes and analytics for risk reduction and reporting. Identifying strategic partners that can assist in achieving digital transformation in this challenging environment by offering solutions that enable better ways to work without “breaking the bank” — not only for the banks themselves but so they can position themselves to offer better ways to work for their corporate clients — is of the utmost strategic importance in 2015. The traditional paradigm of implementing a particular technology to solve a single problem no longer works when digital disruption is threatening the banking industry’s role as trusted intermediary. In order to survive, banks must find ways to transform themselves in order to be as innovative as their non-bank competitors while staying engaged with the clients to ensure that innovation is being focused in the right places. Leveraging the cloud to enhance agility and time to market and using analytics to better understand client behavior and anticipate their needs are two key areas of investment for forward-thinking financial institutions. Having a platform that supports innovation and client engagement without sacrificing the control and governance needed in a highly regulated industry is not a nice-to-have, it is a requirement.
Insurance companies continue to seek ways to meet the challenges of Digital Disruption, as well as declining agent numbers and lost profits from near zero interestrates. While they want to sell more insurance policies, investments and annuities online this is not as easily accomplished as some would think. It is still a truism that these products are sold, not bought. Insurance companies will need to transform themselves to survive in a world with fewer and fewer agents to rely on. To be successful in this new world, especially with the Millennial eneration, they must provide rich, personalized omni-channel customer experiences, so they can take advantage of a 360-degree view of the customer to better engage with them at every touch-point.
The heart of digital transformation is a relentless focus on the customer. However, that focus needs to be translated into the preferred communication method in order to be extremely effective. Insurance companies will need to become much more digitally adept. Doing this will allow them to gain better understanding of their customers, markets, and business in order to make smarter decisions and personalized recommendations.This will give them the ability to differentiate themselves and their products and succeed in the future.
Today’s manufacturers need access to a single source of truth relating to digital product information. Information management technologies are advancing quickly and manufacturers have a choice of how they manage their enterprise information, either on premise, cloud or a hybrid
approach comprising of part cloud and part on premise. The days of implementing a collection of servers in a new plant to manage
operations are long gone; the advances in network connectivity, mobile technologies and information management capabilities are changing the ways in which manufacturing CIOs manage their IT infrastructures.
At Enterprise World 2015, we will be showcasing our next generation information management solutions which can be managed either on premise or in the cloud. These new platforms will introduce new ways in which to access, manage and interpret enterprise related information. Many manufacturers are now taking the opportunity to restructure global supply chains and redesign information management platforms, here at OpenText we certainly believe we have the best in class Enterprise Information Management solutions to provide internal and extendedenterprise users with a better way of working with digital information. To find out more information about some of the breakout sessions that may be of interest to manufacturing companiesattending Enterprise World 2015 in Las Vegas, then please click here for further information.