Digitalization Is Becoming a Necessary Competence of the Company and No Longer a Competitive Advantage

Day 7. May 2021
 

For a company to succeed in a post Covid world, it must not only manage digital transformation but become diverse and inclusive at the same time. This applies to large established companies as well as startups and scaleups.

 

The Corona Crisis has not only accelerated the digitization of business and life. It is only the most visible systemic change. In fact, tectonic shifts have taken place in many areas of the economy over the past year. COVID -19 has thus played the role of an invisible accelerant, in many ways bringing the business world definitively into the 21st century. The pandemic has completely reshuffled the cards in some areas, somewhat less so in others, but its impact has been far-reaching.

 

So many, deeply held beliefs of the past are no longer valid, Dan Helfrich says, director of the consulting firm Deloitte Consulting, which perfectly sums up four major shifts in the business mindset of the post-Covid world.

 

Digital Transformation Must Not Be Based on Past Technological Solutions

The “we did that last time” mentality is no longer appropriate, Helfrich says. Successful companies see digital transformation as investing in business digitization as a whole new business model. On the other hand, there are companies that often fail in digital transformation because they merely tried to rework established business models. Instead of replicating current practices, they should innovate and think about growth, Helfrich writes.

 

Companies also need to be aware that adopting new technologies is only the beginning of digitalisation, not its end. Such companies are agile and respond more quickly to changes in the business environment. During the Corona crisis, such companies suffered less damage and were more able to turn the crisis into an opportunity.

 

Established Companies Can Also Be Market Disruptors

We associate the word disruption with the emergence of new companies in established markets. But the pandemic has shown that disruptors are not necessarily new companies. They can also be established large companies that are innovative enough at the same time. Helfrich urges large and established companies to challenge themselves more than once. To do this, however, it is necessary to change the way they think and view the market, even outside their own segment. Companies can find a source of inspiration in other innovative companies, startups, incubators and even non-profit organizations and competitors.

 

Shubber Ali, a global innovation ninja and one of the leaders at Accenture who helps clients develop and launch new businesses, will speak at the Podim DX conference about which established beliefs no longer apply today.

 

Shubber has co-founded several successful technology companies, including award-winning tech companies Centriq and Flaik. He has also designed innovation programs at Salesforce.com, one of Forbes’ Most Innovative Companies.

 

 

Diversity, Inclusion and Equality Are Expected

Deloitte has confirmed in several studies that companies that pursue diversity inclusion and equality are twice as successful in meeting their financial goals. But just as digitization will soon cease to be a competitive advantage and become a market expectation, so too will diversity inclusion become a systemic expectation.

 

Access to Relevant Information Should Not Be Too Limited

In most companies, access to information is quite limited, with the most important usually only available to management. The latter often conceives of information sharing as a risk factor, which restricts the flow of information within the company and leads to information privileges. Which of course is not in line with the concepts of inclusion and transparency. Helfrich argues that a wider sharing of information can have more benefits and bring more growth. Different views bring more ideas, and these are a prerequisite for innovation.

 

Can Uncertainty Become Opportunity?

So last year’s pandemic only confirmed what we’ve always known: the only constant is constant change. What if we could harness this constant unpredictability? Christian Busch, one of the keynote speakers at Podim DX, has been exploring the impact of unexpected change as an opportunity for innovation for more than a decade. At Podim DX, Busch will reveal his view of the opportunities that periods of uncertainty, such as the current period of global pandemic, bring.

 

Over the past year, heightened market risks have rocked even some of the largest companies in the world. But how have smaller companies made it through these tumultuous times?

In the past year, the investment firm BluHeera AG has reviewed and analyzed about 200 startups. The results of the analysis and the drivers in the innovation market as well as the most common mistakes made by startups will be presented at Podim DX by Monika Kek, CEO of BluHeera.

 

“At a time when rapid changes in the business environment are prevalent, only companies that are familiar with the legal framework of the industry in which they operate will be able to respond to market opportunities in a timely manner,” says the law firm CMS, which advises companies in the legal and tax areas. Law must also keep up with rapid technological and business developments, and advising companies must be able to anticipate changes before they occur.

 

Linking Innovation to Business Opportunities, Capital and Knowledge

Podim DX 2021, the most influential startup & technology event in Central and Eastern Europe, will therefore offer a unique insight into linking innovation with business opportunities, capital and knowledge from May 17-19. Over the years, Podim has become a key regional learning and networking platform that creates real value by bringing together and connecting recognized international investors, established companies and startups and scaleups.

“To ensure the highest quality of learning and networking, the organizers have taken the strategic decision to allow a maximum of 1,000 participants to attend the event. This is one of the reasons why you can always approach top speakers at Podim, talk to them and spend quality time with investors, company representatives and other attendees. Podim is a window in and out of the region for effective networking, business initiation and experience sharing, ” write the organizers, who say that the essence of Podim DX is practical advice, sharing knowledge and valuable experience, as well as imparting important advice and tricks for business growth.

 

Opportunity to “Book” 20-Minute Meetings with Representatives of Nearly 200 Startups

Podim DX offers each individual within its digital audience the opportunity of 20-minute meetings with various experts and, most importantly, representatives of nearly 200 startups developing interesting technologies. When purchasing a digital ticket, Podim web attendees will receive access to a digital catalogue of all conference startups and scaleups.

Tags
SEF Ministry of Economic Development and Technology European Regional Development Fund Startup Plus
Izvedba: Mojdenar IT d.o.o.