The Impact of Digital Debt

The Impact of Digital Debt

well the good news is that while digital debt accumulation is something that happens to pretty much everybody there's always a way out my name is Chris Steele I'm the head of technology at Hsu Gaza and I work with our mid market and private equity clients on digital transformation technology strategy and how to move their businesses forward you know a lot of our clients are looking at topics like digital transformation as a way to modernize their business and to avoid some of the problems that come about from carrying a large balance of what we call digital debt digital debt is really a concept that we use to talk about the situation that arises from years of ignoring technology wrong investments or under-investing into technology and what results is a lack of competitiveness and business agility that leaves companies unable to take advantage of changing market conditions and new customer demands the accumulation of digital debt is really a natural part of a company's growth cycle as they start thinking about managing by the numbers they gain a certain amount of market share and start focusing less on innovation and more on other topics like mergers and acquisitions and as to become more operationally minded what can happen almost as a side effect of that is it creates an opportunity for younger more nimbler upstarts that are so focused on that early phase of the growth cycle and it forces those guys to create new service offerings and new ideas that their customers want and the big guys just struggle to keep up a good example is maybe looking a company like Sears they had a great catalog business great brand recognition really everything that a mid-market company might want but they failed to capitalize on digital channel so as companies like Amazon became Glaser focused on really owning that space they were able to engage customers in new and exciting ways and Sears eventually started to compete but it was too little too late and they were never really able to make a full ostrov we can see this in a lot of different industries we look at companies like Lego or Domino's that were really under the gun they were looking at only a couple of years left after we're dealing with declining revenue and shrinking market share even after they had successfully built some formerly industry-leading behemoth but by focusing on customer engagement new service lines and offerings and really putting the customer in charge of the experience they were able to successfully reinvent themselves to rapid and record levels of growth what we'll talk about is really every point in that lifecycle from uncovering where you are now and understanding the factors that are maybe holding you in place or limiting your abilities to grow we'll talk about how to quantify that and make intelligent decisions about where to invest for the maximum benefit so that you get measurable actionable insights and results at every point from quick wins to new service offerings operational improvement to long-term ROI you

One thought on “The Impact of Digital Debt

  1. It's always good to take a few minutes to reflect on if you are using technology to execute your business plan, or to shape your business strategy! The former often leads to trouble in the long run.

Leave a Reply

Your email address will not be published. Required fields are marked *