In a recent Renewd webinar, industry experts Jennifer Schivas (CEO at 67 Bricks), Emma Vodden (Director of Publishing at Bone and Joint), and Andy Noble (Chief Data Officer at IWSR) discussed how businesses can use digital transformation as a vehicle for growth, better customer service, and increased efficiency.
Here are 7 key takeaways:
-
Shifting the perception of technology
Jennifer emphasized the need to shift from viewing technology as a mere service and cost factor to acknowledging it as a critical enabler of growth and value addition to businesses. In her words, “Making the right technology decisions… can drive growth, deliver new revenue, power new products and ultimately increase the value of your business.”
-
Risk of stagnation
Emma Vodden described how legacy systems and sub-optimal of-the-shelf technology impacted Bone and Joint’s operations, a problem common to small operations working in traditional fields. Despite their small size, they knew they had to be bold enough to do something dramatically different. As Vodden put it, “You can’t do that with an off-the-shelf product. … We have to embrace the technology that’s out there to move forward.” For businesses operating with outdated systems, the risk is not just about maintaining the status quo, but it’s also about stagnation and losing the ability to innovate. Vodden continued, “By taking such a big step forward technology-wise, we’ve now set ourselves up to be able to react in the future…I wouldn’t have wanted us in five years to still be on the same platform, even further behind the curve than we would have been now”.
-
Commercial impact of inflexible platforms
Noble underlined another significant risk: “A platform that’s not able to flex with your client’s requirements is a commercial disaster.” An inflexible technology infrastructure limits new growth opportunities and also restricts the company’s ability to meet existing client needs effectively.
-
Strategic alignment with the needs of internal teams and customers
Vodden emphasized the importance of aligning the digital transformation with internal stakeholders like editorial teams and boards. Meanwhile, Noble pointed out the crucial need to orient product development to meet customer needs.
-
The need for agile development
Both Emma and Andy discussed their experiences with product development and the iterative feedback process they went through with their customers. This methodology was essential for creating user-friendly platforms tailored to users’ needs and ensuring smooth product development roadmaps.
-
The importance of partnerships
The value of a partnership approach surfaced during the discussions, with Noble describing their vendor relationship with 67 Bricks as “pretty symbiotic.” He emphasized the need for a partner who understands both technology and the customer’s point of view.
-
Trusting and investing in technology
The largest takeaway was the emphasis on trusting and investing in technology. For businesses to innovate, adapt, and succeed, technology investment must align with the companies’ strategic goals.
Throughout their digital transformation journey, the panellists underlined a persistent theme: businesses should prioritise customers’ needs, engage stakeholders, create and nurture trustworthy partnerships, and focus on the growth possibilities that come with digital innovation. Doing so can create lasting, positive change and the ability to adapt swiftly in a rapidly changing digital landscape.
