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Disruption: The new normal

Products and services are taking a back seat to customer experience – because the more consumers enjoy their encounter with your business, the more likely they are to return.

Disruption: The new normal

In a way that technology fads often do not, “digital disruption” has lived up to its name in every corner of the economy – and at lightning-speed. ‎

Global head of Infosys Digital, Scott Sorokin, talks about disruptors ripping the rug from under established businesses by “delivering a better experience at a better price that’s more personalised”, and creating new and higher expectations among consumers in the process.

“That’s what disruptors do, right?” he says. “They’re changing what was normal to a new normal.”

Sorokin believes disruptors will become so good at delivering “amazing experiences” that products and services will become secondary to the experience.

“The actual products and services are going to become much more [like] commodities,” he says. “Think about any really good technology … the better the experience, the more likely you are to use it.”

 

“Think about any really good technology – the better the experience, the more likely you are to use it.” ‎

Scott Sorokin, Global Head of Digital, Infosys

The challenge for businesses will be to create new and better experiences for customers.

“The businesses that reimagine the future, that rethink what their role is, are the ones that are really going to survive and adapt and change,” Sorokin says.

Regardless of the terminology, he says, whether it’s “business transformation”, “digital transformation” or “digital disruption”, what’s important is to recognise the depth of change.

“This world of customer experiences, of expectations, is impacting every element of our lives – our personal lives and our business lives,” he says. “The really smart companies are going to be able to build processes that allow them to adapt quickly, change quickly, and react to the changing [customer] behaviour.”

Organisations need to recognise that competition can come from anywhere, Sorokin says. “It used to be we knew who our competitors were – we knew who we were competing with,” he says.

But not anymore – which is why surviving in the digital world requires “new ways of thinking”, Sorokin says.

[Transcript]
Scott Sorokin, Global head, Infosys Digital

Digital allows you to create these kind of circumstances, to create higher levels of expectations to deliver hypersensitivity to friction.

They’re delivering a better experience at a better price that’s more personalised. Think about any of the things you really love – it’s about how you get this amazing experience, right? The actual products and services are – are going to become much more like commodities.

Think about any really good technology or pieces of it: the better the experience, the more likely you are to use it.

The businesses that reimagine the future, that rethink what their role is in the past to the future, are the ones that are really going to survive and adapt and change. Where are we going, where do we need to be, and what does it look like is a big piece of that.

Every business is doing that today. They may call it “business transformation” or “digital transformation” or “disruption”. It’s all relatively the same, right.

The really smart companies are going to be able to build processes that allow them to adapt quickly, make change quickly, react to changing behaviour.

It used to be we knew who our competitors were. We knew who we were competing with. We knew there was another telco. It could be these companies that didn’t exist 10 years ago and suddenly they’re massively influential across the world. Like they didn’t exist, right.

We’re living in a space of these levels of uncertainty that are driving CEO and management-level discussions that are very healthy, but very disruptive to their own businesses. New ways of thinking.

Ask your Account Executive how Telstra can partner with business on the digital transformation journey.

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