Anant Agrawal, MD, Skillmine Technology Consulting, 0
A recent Gartner survey foresees a digital transformation surge, with 75 percent of organizations adopting a cloud-centric model by 2026. Technology democratization facilitates penetration of technology across all strata aided by secure and scalable cloud infrastructure. Unified communication advancements further empower businesses in the digital landscape. Strategic collaborations with tech partners are now pivotal, offering guidance for effective digital solutions. Growth imperatives like meeting customer demands, refining business offerings, geographical expansion, and embracing technological innovations coerces businesses to adopt various complex digital initiatives.
Challenges of Digital Transformation
1. Successfully navigating digital initiatives involves overcoming challenges in project success, ROI, and adaptability by acknowledging that Digital Transformation is not merely a Technological Initiative—it's a Cultural Change for the Business. To implement this change effectively, one can either buy a solution in SAS on subscription model or leverage to make a Minimum Viable Product (MVP), making it a pivotal Buy vs. Make Decision.
2. Digital transformations often begin with an MVP, serving as the project's foundation for subsequent enhancements. While leveraging MVPs is beneficial, ongoing refinement through an agile approach is crucial for adapting to changing circumstances and aligning with evolving business requirements.
3. Additionally, using various subscription models may pose issues with third-party (Intellectual Property) IP ownership. Thus, prioritizing customization in the product roadmap is essential to address specific needs. However, this can lead to an undue dependency on technical partners to adapt to changing demands along the product roadmap.
4. During a digital transformation process, uncertainties arise regarding cultural change, the success of the adapted business model, and the technology's capability
to deliver desired business outcomes.
Therefore, the Transformation & Technology Total (TTT) model of Skillmine that can significantly overcome these challenges and ensure sustained success.
Transformation & Technology Total (TTT) Model
The TTT is a comprehensive model focusing on transformation and expert technology execution through a forward-thinking transaction approach. This model weaves technology into the fabric of a business, from operations to customer engagement. The Transformation strategy is a collaborative effort in which the customer takes ownership of the business transformation and cultural change. Skillmine guarantees that the technology will align with and seamlessly deliver their unique business goals. This strategic division enables clients to concentrate on overarching transformation objectives. This collaboration optimizes efficiency, minimizing disruptions in the integration process. In the TTT model, the ‘Transformation’ strategy is owned by the customer and the ‘Technology Execution’ by the Skillmine.
Characteristics of the Model
• The service provider engages in a skin-in-the-game model, dividing project costs over three years through licensing. Skillmine is not paid anything initially.
• Skillmine envisions a minimum one-year commitment on MVP Delivery within a 3-year Contract for optimal ROI.
• Successful implementation of the model extends to a five-year licensing, granting clients IP control after three years and the code after five.
• If business scaling falls short post-year one and the business model is unsuccessful, Skillmine commits to shut down the project to retain, reuse, and repurpose the code.
• Skillmine, as the service provider, bears the risk of loss alongside the customer, emphasizing the strategic nature of the collaboration.
In conclusion, the TTT model provides forward-thinking transaction approach to technology integration, offering businesses a balanced, long-term strategy for sustained growth and success. Skillmine's TTT guides businesses toward innovation and evolution in an era of rapid technological change.
Therefore, the Transformation & Technology Total (TTT) model of Skillmine that can significantly overcome these challenges and ensure sustained success.
Transformation & Technology Total (TTT) Model
The TTT is a comprehensive model focusing on transformation and expert technology execution through a forward-thinking transaction approach. This model weaves technology into the fabric of a business, from operations to customer engagement. The Transformation strategy is a collaborative effort in which the customer takes ownership of the business transformation and cultural change. Skillmine guarantees that the technology will align with and seamlessly deliver their unique business goals. This strategic division enables clients to concentrate on overarching transformation objectives. This collaboration optimizes efficiency, minimizing disruptions in the integration process. In the TTT model, the ‘Transformation’ strategy is owned by the customer and the ‘Technology Execution’ by the Skillmine.
While leveraging MVPs is beneficial, ongoing refinement through an agile approach is crucial for adapting to changing circumstances and aligning with evolving business requirements.
Characteristics of the Model
• The service provider engages in a skin-in-the-game model, dividing project costs over three years through licensing. Skillmine is not paid anything initially.
• Skillmine envisions a minimum one-year commitment on MVP Delivery within a 3-year Contract for optimal ROI.
• Successful implementation of the model extends to a five-year licensing, granting clients IP control after three years and the code after five.
• If business scaling falls short post-year one and the business model is unsuccessful, Skillmine commits to shut down the project to retain, reuse, and repurpose the code.
• Skillmine, as the service provider, bears the risk of loss alongside the customer, emphasizing the strategic nature of the collaboration.
In conclusion, the TTT model provides forward-thinking transaction approach to technology integration, offering businesses a balanced, long-term strategy for sustained growth and success. Skillmine's TTT guides businesses toward innovation and evolution in an era of rapid technological change.