That the digital wave will be the largest disruptor of corporate life as it is today is borne out by the statement of Jitin Goyal, CEO of Polaris, at the company’s 22nd AGM. Goyal quotes analysts to say that over $50 billion will be spent on digital transformation by the banks this year alone. Gartner has forecast that by 2015, 25 per cent of businesses will employ a Chief Digital Officer. It has also gone on to predict that 20 per cent of CIOs have already begun to take the role of a Chief Digital Officer. “Thus, the digital wave would be the largest disruptor (or should I say, opportunity) in the financial spectrum,” says Goyal.
Goyal goes on to say that social media and mobile devices have migrated customers away from traditional interaction spaces such as physical offices, call centres or perhaps even websites. Self-service models are re-defining conventional assisted process models. “The focus, as I personally see it, has moved from processes to products and finally to the customer. Customer-centric business models are evolving with greater focus on knowing more about the customer to tailor and sharpen offerings around his or her needs,” says Goyal.