Events

Patrick James on Digital Disruption

02-09-2016 ey digital day 2016
Patrick James, Partner in EY in the UK and EMEIA Head of Experience Implementation, Digital EAC, spoke about digital disruption at the EY Digital Day 2016 in Copenhagen. We had a chat with him about what companies should do to embrace digital disruption.

Transcript
It is a really good question. We spend a lot of time looking at the characteristics of organizations and what they need to do to change to become more digital.
And fundamentally it starts with an appreciation that the world has changed and that they will be disrupted.
And that they need to start dealing with that disruption rapidly.
We talk about starting with an understanding of their purpose and their vision of what they are trying to do.
We also understand that it has to start with the boardroom.
It can’t start from the grassroots. It must be part of a concerted effort within the organization.
Waiting to see what happens is the pure way of dying.
Fundamentally, we know that every company will be disrupted at some point in time.
Disruption is constant and continuous. And the one thing about digital is that you categorically need to accept that it is going to happen to you.
You need to be in front of that disruption.
So the question is; are you the disruptor? Or are you going to be disrupted?
Fundamentally, the question is; what do you prioritize? Well, for most organizations digital is at the side of the desk now.
So how do they take it off the side of the desk and make it much more pertinent to their business?
Digital is the combination of many things.
It is the combination of mobile, data, change and faster technologies.
And how you take advantage of those is going to be the challenge for 2016 and beyond.
You can’t possibly hope to be in front of the digital curve.
What you can hope is that you can make your business more pertinent to you customers and your people and to your shareholders by using that digital technology and digital capability to generate shareholder return.
And to make your business more effective in the market.
I think they are all important.
Thinking through the nine, what I think from the business’ perspective is to do something.
So starting with a board agenda item that says what is digital? What does it mean to our business?
And how are we not going to be disrupted? Is the number one challenge.
So that is probably the most important.
But then how you turn that into a mobilized implementation of change is incredibly important.
And I think it’s doing something. Getting the vision. Understanding the purpose of your business.
Understanding what experience you need to achieve. And then embracing it.
And doing and failing fast and having a go is probably just as important.
Because that teaches the business that this is a constant iterative change process that they need to be embarking on.
We talk about continuous implementation.
This is not a program of work that you are going to stat and finish. This is now the new business paradigm.
The new business paradigm is about constant change.
How are you going to embrace constant change and be the winners of that constant change?