Dear fellow Information Connoisseurs November for all of us in Australia was always a “rivalry” month, when we traditionally stop the nation to remember our heroes and their sacrifices, wear funny hats, grow a moustache (Movember), play silly games, and watch a horse race (Melbourne Cup). But there is nothing traditional about this year, and this November is by no means an exception. We have witnessed quite a few races recently, from the election over the ditch in New Zealand, as well as on our own soil with a few state elections and the one that has dominated the airwaves, the long anticipated presidential race in the nowadays very distant continent of America. To bring a bit of humour that we all need these days, I share with you a brief but colourful vision of the President’s Cup by the comedian Sammy J, presented by ABC on iView (https://iview.abc.net.au/video/LE1906V040S00). We are looking closely at another aspect of the election process through our digital transformation lens. Once the dust settles, in following issues of our newsletter, we will take a closer look at how the centuries old process of voting has morphed into a race that is digitally-supported – making it more democratic, accurate and cost-friendly. In November we present a selection of articles around Digital Transformation and Our New Reality. We also include an opinion piece from Rainer Krause, one of our IIM Board members, , about the current information management trends, which he recently expressed in an interview for the IDM Magazine. As usual, we welcome your feedback and stories, especially this month, about races and rivalries on your own digital battlefields. Wishing you a happy Movember. Vladimir Videnovic IIM President
Rainer Krause, IIM Board Member & Managing Director, ELO Digital Office AU/NZ
IDM Interview with Rainer Krause Celebrating 15 years of activity in the ANZ market, IDM asked MD Rainer Krause to reflect on the evolution of ELO Digital Office in the ANZ ECM and records management marketplace. In the interview Rainer said "I don’t believe that ECM per see will ever disappear, although the term itself may be out of fashion. For example: if you are a small or medium company/entity and you want to streamline your business processes, you may be deterred by the word ‘enterprise’. That sounds expensive and you may think that you’ll buy something that is far too big for what you want to achieve. I think, the word enterprise is hindering it."
Is Your Technology Ready for the New Digital Reality? For today’s businesses, the only thing that is certain is uncertainty. COVID-19 has cast a clear and somber spotlight on the urgent need for resilience and digital capabilities. More than ever, businesses must be able to react to sudden and dramatic changes - in their supply chains, in their customer interactions, in how and where their employees work. But many companies simply aren’t there yet. That's a problem not only for immediate responses to COVID-19 but also for the longer-term future. Expectations for businesses, employees, and consumers have shifted with remarkable speed. Although the situation is evolving very differently across geographies and industries, one common theme recurs: the need to sense and shape the new reality. What will it take to compete going forward? Three elements are key: a relentless focus on the outcomes that matter; new ways of working; and savvy use of digital and technology.
Adapt Your Business to the New Reality Companies seeking to emerge from the crisis in a stronger position must develop a systematic understanding of changing habits. For many firms, that will require a new process for detecting and assessing shifts before they become obvious to all. The first step is to map the potential ramifications of behavioral trends to identify specific products or business opportunities that will most likely grow or contract as a result. Consider how the pandemic has caused people to stay at home more... Unless we sensitize ourselves to new habits and their cascading indirect effects, we will fail to spot weak signals and miss opportunities to shape markets.
The digital-led recovery from COVID-19: Five questions for CEOs A digital future lies ahead. By acting early and being bold and decisive, CEOs can accelerate their digital transformation and reach the next normal sooner. For many companies, the only option is to accelerate their digital transformation. That means moving from active experimentation to active scale-up supported by ongoing testing and continuous improvement. These moves should happen across two dimensions: at the core of the company and through the development of new businesses. Top-performing digital companies take this twin approach.
Accelerating digital transformation on the road to a new reality COVID-19 has been a catalyst for tactical digital transformation. Organisations had to react quickly to enable remote working, shift to digital channels and transform products and services to meet the changing demands of customers. The pandemic has forced organisations to urgently leverage new technologies and ways of working, implementing digital projects in mere weeks that would previously have taken months, if not years. However, there are concerns that these rushed, reactive initiatives addressed a short-term need at the risk of long-term success.