Have you caught the DIGITAL bus yet?

  1. Did you know European software developer Meniga offers mobile and web-based personal finance and banking solutions that incorporate social curiosity, humour and gaming concepts?
  2. Did you know Kabbage guarantees a loan decision within seven minutes by creating a credit score from a customer’s web activity?
  3. Did you know Ripple has reduced the cost of international bank transfers to a tenth of traditional costs by routing payments through an interconnected network of trusted intermediaries?
  4. Did you know that the top six digital innovators in banking — PayPal, Alibaba, Tesco, NTT Docomo, Safaricom, and Facebook — accounted for 20 % of total retail banking revenue growth in 2012 to 2013?
  5. Did you know American Express and Capital One use advance analytics to allow limited customization of credit cards, such as opting for fuel discounts or concierge services?
  6. Did you know Clarks lets customers customize their footwear online and sends prototypes created by 3D printers to production?
  7. Did you know London’s Burberry offers smart personalization, allowing customers to design “made for me” trench coats on its web site?
  8. Did you know British store John Lewis lets customers design and make a 3D print of personal sofa designs with a variety of fabrics and customized configurations.
  9. Did you know embedded software contributes about 25% of a new car’s value, and this is likely to reach 50% by 2020?
  10. Did you know luxury car dealers are offering virtual configurations, informational features, and ride simulators at physical showrooms, even when the purchase takes place online?
  11. Did you know Ford creates prototypes of new engine designs using 3D-printing technology, at $3,000, compared to traditional methods that cost $500,000?
  12. Did you know that micro seismic analysis is reliant on big data capabilities and could improve exploration hit rates by more than 30% in the oil and gas industry?
  13. Did you know global oil majors such as Shell and BP have deployed digital oilfield systems comprising real-time operations centers, production flow monitors and controls, intelligent completions that manage control valves, advanced rig telemetry that remotely monitor drilling metrics, and massive onshore data farms?
  14. Did you know automation companies like FANUC have created manufacturing facilities that require no human workers outside a centralized control room?
  15. Did you know extreme automation applications like RedEye allow for customer-centric manufacturing that establishes a direct connection between designs created by customers online and production plants, enabling an unparalleled level of customization?
  16. Did you know that “e-plant in a box” models like Local Motors and GE-KuBio provide small modular plants that can produce a small volume of customized products with fast turnaround times and low capital expenditure?
  17. Did you know preventive maintenance is likely to save 10-40% in maintenance and service costs in the manufacturing sector by 2025?
  18. Did you know Reckitt Benckiser uses rich data, including WebMD search results, to improve marketing efforts for its health care brands?

Indeed, around the world technology has become a major driver of growth. In one study of 40 countries, capital investment in digital technology equaled just less than 1% of GDP in 2005 in the markets studied and had grown to just more than 3% by 2013. The same study showed that accumulated capital investment in digital technology had reached $6 trillion by 2013 or about 8.5% of nominal global GDP.

A digital enterprise would use technology to cater to customers equipped with smart mobile devices who are always online and always on the move. It may use digital capacities to deliver products and services faster and better. And it could derive value from deploying digital technologies throughout its business system, often in collaboration with competitors, digital giants and new entrants to create collective value for consumers.

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Five aspects characterize a digital enterprise: customized, connected and convenient products and services, digital channels focused on customer experience, advanced production methods that reduce operating costs, automated processes, and decisions based on data.

Join us on October 5th in New Delhi in an interactive, immersive and informative full day NASSCOM event with Indian IT and McKinsey global leaders to understand how you can leverage digital to enhance your competitiveness.

Register here – http://www.nasscom.in/perspective-2025/

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