According to Phil Fersht, we’re in the early stage of the next wave of digital transformation, which is the shift to a platform-based business and being a more proactive business. To make this shift requires accepting that your current technology investments and are a sunk cost and moving on to new technology and processes.

Shifting Platforms and Digital Transformation

Essentially it’s going from a reactive type environment to something much more proactive. You know, it’s going from resolving problems by looking at the processes for generating solutions looking at business context. It’s going from your staff doing mostly transactional tasks, to your staff focusing much more on interpreting data, conceiving new ideas, being more creative.

It’s having that ability to write off legacy. I’m really big on this because it’s getting away from legacy technology investments that drain budget just to keep your company functional, shifting to a much more greater use of platform-based services, which can often make moving technology investments redundant. It’s being able to write of that technology debt and say, hey, we might have spent $100 million on that PRP implementation years ago, but that’s old technology. We have to move on from there.

So it’s this shifting away from the old to embrace the new. But most importantly, figuring out a plan to get there, because a lot of this stuff is 5 to 10 years out you know, and it’s going to take a while for clients to get there and how do they build that roadmap to get ahead of this change.