IT Sideways, Malaysia: Senior Director at Cognizant’s Center for the Future of Work Says Speed Determines Whether a Business Disrupts or is Disrupted in the Digital Era

“The pace of business change has intensified dramatically as the fruits of digital technology expand to the entire world economy,” writes Manish Bahl. “The stakes are even higher because the goal posts are now moving so fast.” Excerpts:

“Great businesses built over decades and even centuries will be for naught if they cannot operate quickly enough. In short, it is speed that determines whether you disrupt or are disrupted.

Business leaders are already under tremendous pressure from inside and outside their organizations to meet customer and market expectations, and accelerate decision-making. However, not every company can move at the same pace because each firm has its own ambitions and priorities in the new machine age. What might be a good compromise for one may be unfeasible or even unacceptable to another.

Leaders also often struggle to set the right pace in their digital transformation journey: fast enough to build the business of the future, but not so furious that they lose control. Trying to do too much too fast is often a recipe for disaster.

Traditional companies have a base of existing processes, products and culture with roots in the industrial era. Perhaps more pertinently, their end goal is different. Organizations that pursue “fake futures” are being furious and not fast in their transformation journey.

The speed framework urges companies to approach digital transformation from a point of view of speed in five areas. Setting targets within the areas of speed to automation, monetize halos of information, enhance the workforce, abundance and discovery will help companies tackle the speed imperative.

It is time for companies in Asia-Pacific to step on the gas, but without overheating engines.”

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