For many of us, everything we know about digital transformation, we’ve learned from the internet. But what is digital transformation, really? There are the futuristic robots that we read are revolutionizing healthcare and manufacturing. Or the sensors that are transforming the way we think about, well — everything, thanks to the masses of data they produce. But unless we’re talking about the front page of Forbes.com, robots and sensors aren’t what digital transformation is really about.
“Digital transformation is the integration of digital technology into all areas of a business, fundamentally changing how you operate and deliver value to customers. It’s also a cultural change that requires organizations to continually challenge the status quo, experiment, and get comfortable with failure.”
Instead, digital transformation is about making businesses run smarter by transforming the way you deliver services. Like this:
- Automating back office processes in order to save time and resources
- Implementing self-service technology for remote sales teams
- Eliminating paper trails with CLM technology
- Avoiding compliance issues with automated financial processes
But at Keste we take digital transformation one step further – we believe the whole purpose of digital transformation is to set your business up for digital monetization. In this age of acceleration, to remain competitive businesses must not only transform digitally, they must also implement agile structures and systems that encourage continuous and rapid evolution. It’s called digital monetization and it’s one reason many companies are switching to recurring or subscription-based business models. These solutions help you to create new offerings quickly, and allow your business to iterate and grow.
Introducing the Digital Hub
At Keste, the Digital Hub represents a massive change in the way we want you to think about modernization. It’s not just about scalability and new tech. It’s about fundamentally changing your approach to monetization. It’s about approaching your front and back office systems from an entirely new perspective.
Think of the Hub as the monetization engine driving revenue for your company. And like every other engine, its parts are interconnected and one small failure can cause calamity. It’s an important reminder that each piece of the Hub is critical and should be carefully considered when planning an update to any system that might affect it.
Digital monetization is a business practice, not a single process or action, and it’s the core of subscription-based models like Everything-as-a-Service and Anything-as-a-Service. It’s also the heart of our business — Keste has been a recognized leader in designing and implementing digital monetization solutions since we were founded fifteen years ago. We’ll have a lot more to say about the Digital Hub in the coming weeks but if you’re eager to get started on your digital monetization strategy today, contact us at solutions@keste.com.
