Breakthrough opportunities stemming from digital transformation include new products and services and increased agility and innovation. More subtle but equally impactful are options around enhanced data collection and visualization, great customer insights, and a fully integrated, universal customer experience. The amount of revenue generated by products and services that did not exist pre-pandemic is estimated to be $30B in 2023.
A new Forrester Research report shares how “obsessing” over your customers’ interaction with the organization and its technology is the key to a future-fit organization. Building a tech foundation that evolves with customers means modernizing, consolidating, and simplifying the org’s tech stack, says Forrester. The group recommends these four strategies to prepare for the transition:
- Build solutions that meet customers where they are.
- Adopt a development model that links technology and business teams.
- Take cost and complexity out of systems or record —continuously.
- Invest in technology innovation chains, not shiny objects.
This technology innovation chain is a “series of related technologies that build upon one another synergistically to create breakthrough opportunities.”
To prepare your tech stack for the future, Forrester also recommends making infrastructure investments to firm up the following key areas:
- Systems of engagement – Includes digital experience platforms, mobile technology, AI, personalization, chatbots, and others. The fastest way to improve engagement is by implementing web and mobile interfaces, leveraging the cloud to speed time-to-value, and upgrading legacy systems based on their technical and digital debt, not on the cost of making the change.
- Systems of insight – Customer intelligence, big data, and other analytics platforms are essential to providing the insight needed to deliver the best experiences and solutions.
- Security – Implement a ZeroTrust security foundation to earn and retain customers’ trust by 1.) Identifying sensitive data, 2) Mapping the data flows of that sensitive data, and 3) Architect and enforce Zero Trust micro perimeters.
- Infrastructure – Category can include cloud, API/integration, and internet of things (IoT). Throughout the transformation, embracing cloud and API architectures increases agility and frees up capital and resources to build the new systems and experiences customers’ demand.
A comprehensive tech strategy supports the customer’s journey — modernization, digital business initiatives, and remote services all go hand-in-hand with new opportunities. Preparing a future-fit tech stack is an essential foundation for the next stage of digital transformation
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