COVID-19 has taken the world by storm and changed our everyday lives from how we communicate and interact with one another, to how we work professionally, conduct business, exercise, and complete basic life tasks such as food shopping and buying essential goods. It has completely disrupted life as we know it. Although we cannot attempt to ignore the devastating toll it has taken in its destruction of precious human life, our economy, mental health, and job security, there may be a silver lining in that it gives us an opportunity for a hard reset. Disruption leads to innovation and transformation.
Businesses are being forced to innovate and create new digital strategies, relying heavily on information technology to shift their operating models. “By 2022, fully 80 percent of revenue growth will depend on digital offerings and operations” (KPMG 2019). Businesses either sink or swim by the way that shift and design technology solutions and meet expectations. This digital transformation places a great deal of pressure on IT and its leaders to build, connect, and support the business needs.
Digital transformation is defined as, “Utilizing new sets of capabilities that are changing the way we work and we live … organizations are trying to understand how they can take the capabilities that digital offers to fundamentally change the way they will operate in the future to better serve their customers, to better manage their employees and to really drive their organization into a more effective and successful organization in the future” (Anand Swaminathan, Digital Transformation 2017).
One example of this that I found intriguing is that Chipotle is now essentially an e-commerce burrito company. Chipotle CEO, Brian Niccol joined the company two years ago and thanks to his ability to shift and adapt digital transformation improving the mobile app and rewards program, partnering with DoorDash and UberEats, the Chipotle stock jumped up 246% in the past two years with 81% increase in digital sales for the quarter (Robinhood Financial).
DocuSign is another interesting company to consider in digital transformation. During COVID-19, Google searches for Docusign jumped 50% when mandatory work from home policies began in the United States in March 2020 (Robinhood Financial). Work from home orders and employees working remotely creates a need for a digital shift to sign and share documents. DocuSign is one of the largest players in this space with 70% of the market and sales are not expected to slow or return to manual-based processes.
This digital transformation shift also emphasizes the importance of cutting across the divide between business and IT. The two departments need to continually work toward a future together where marketing technology blends both art and science by developing plans to execute against a customer-focused strategy (Goldman).
“Chipotle Is an Ecommerce Company Now – Robinhood Snacks.” Robinhood Financial, 23 Apr. 2020, snacks.robinhood.com/newsletters/3VYgq4XRGydXCiWCpJd3rW/.
“Digital Transformation: Why It Matters: Projectified.” Digital Transformation: Why It Matters | Projectified, www.pmi.org/learning/training-development/projectified-podcast/podcasts/digital-transformation-why-it-matters.
“ DocuSign’s Corona-Conomy Takeover – Robinhood Snacks.” Robinhood Financial, 9 June 2020, snacks.robinhood.com/newsletters/1JY5L4tFKyfyBzm0SE6ES7/.
Goldman, Sharon. Can Marketing Tech Track the Entire Customer Lifecycle? 17 Feb. 2016, www.cio.com/article/3033975/can-marketing-tech-track-the-entire-customer-lifecycle.html.
“IT at Market Speed.” KPMG, KPMG, 21 Feb. 2019, home.kpmg/xx/en/home/insights/2019/03/it-at-market-speed.html.