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Businesses urged to leverage technology in business transformation

Chief digital and marketing officer of NCB Group Nadeen Matthews Blair has challenged businesses to leverage the technologies implemented in their digital transformations to create a positive change in their business models and enhance customer experience.

“Going digital is not just about technology, it’s a way of being that’s critical for us to strive in the new normal. It’s not about just having a website, an Instagram page or customer relationship management (CRM) system, but how you leverage these technologies to transform processes, customer journeys, and even business models,” Matthews Blair said at the Private Sector Organisation of Jamaica’s (PSOJ) Let’s Go Digital virtual conference held last week.

“We have recognised that going digital is not an ‘if’, but it’s more a ‘how fast can I go?’ My challenge to you is, what will you do with the technology to become faster, simpler, more reliable, and offer a more delightful customer experience?” she posed.

While many established companies may have discussed and even strategised their digital transformations, the unique set of circumstances surrounding the novel coronavirus have indefinitely propelled such plans into action.

Now, more than ever, companies are set on their digital-first journey to stay relevant as the customers of tomorrow will prefer remote and digital.

However, Matthews Bair pointed out that digital transformation is in fact business transformation.

“Going digital is not the ‘in-thing’ – it’s history repeating itself and life staying true to the adage that the only thing that is constant is change,” she said, citing Amazon’s business transformations over the years.

The company, which was initially established as an online bookstore in 1994, has diversified into a global organisation boasting US$38 billion in revenue in 2017.

“There is no business that is immune from disruption. Going digital provides a mechanism for us to continuously sense, adapt and evolve our business models, because failure to do so leads to obsolescence,” she contended.

“In one fell swoop you can go from a nine-five business to becoming a 24/7 business. You can go from being in one parish to being in multiple parishes and also multiple countries. When you go digital you are moving from having a product to having a platform that can be leveraged to extend and evolve your business model,” she continued.

She further added that NCB Group has partnered with the PSOJ and Ministry of Education to support digital transformations, as well as expanded its suite of e-commerce options, marketing and website services available to customers.