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NEW WINNERS ARE ABOUT TO EMERGE

Every significant economic shift is accompanied by a dramatic remaking of the major players in the economy

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WITH THE ARRIVAL OF THE DIGITAL CONSUMER ECONOMY

Newly empowered customers with anytime-anywhere access to information Constantly connected via social networks; base purchasing decisions on their peers opinions

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DIGITAL FIVE FORCES ARE CHANGING THE BUSINESS CONTEXT

1. Mobility lets companies know a lot about their customers in real time

2. Big Data helps make sense of both structured and unstructured streams of information

3. Social Media provides insights into individual preferences without the observer effect

5. AI and Robotics foster automation with deep learning systems

4. Cloud puts formidable computing resources in the hands of small companies with limited budget

The Digital Five Forces

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Resolve claims

faster with digital

tools and processes

Anticipate and

resolve issues

based on sensor

data

Transfer money to contacts without account details

Verify product

allocation on store shelves

with robots

Transfer money to contacts without account details

Gain industrial-strength

computing capability

within budget

DIGITAL FIVE FORCES ARE UNLEASHING NEW OPPORTUNITIES

INSURANCE POWER BANKING SMALL FIRMS RETAIL

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Companies are faced with the value barrier they cant increase prices or reduce costs dramatically

The influx of digital natives into the consumer base has increased demand for responsiveness, engagement and individualized attention

WHY RESPOND NOW?

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TYPICAL RESPONSES TO THE DIGITAL FIVE FORCES

DIGITIZATION

DIGITAL TRANSFORMATION

What it is Application Impact

Increases business velocity

Improves brand experience

Companies adopt digital devices for communication

Companies transform their channels with digital tools

Create seamless customer experience online + offline

Capture and transmit information in real time

Digitization and Digital Transformation are common but inadequate responses to the Digital Consumer Economy

Impact limited to channels; other key areas untouched

Preserves legacy workflows; rarely transformational

Limitations

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DIGITAL REIMAGINATION

THE WINNING RESPONSE

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Digital Reimagination leverages the Digital Five Forces in combination to create something fundamentally new in six key areas of your company

Business Models Workplaces

Products / Services

Business Processes

Customer Segments

Distribution Channels

Digital Reimagination

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REIMAGINE BUSINESS MODELS

!Continued visibility into the usage of a product could help a company switch to a different business model !Applicable to jet engines and power generators

From Sale to Rent

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Crowdsource product design with social media; tap consumer insights without the observer effect

Credit card companies can now monetize the aggregate spend data of their customers

REIMAGINE PRODUCTS AND SERVICES

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REIMAGINE CUSTOMER SEGMENTS

Mobile and apps provide a wealth of data about individual consumers Micro-segmentation and creation of new segments are now possible

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Companies can redesign existing physical channels An app which helps customers search both the stores shelves and inventory can help boost sales

REIMAGINE DISTRIBUTION CHANNELS

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Insurance companies can automate validation of claims approvals with advanced analytics

Reengineer paper-based business processes to make them highly accurate, speedy and responsive

REIMAGINE BUSINESS PROCESSES

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REIMAGINE WORKPLACES

Better people management with Big Data and AI !Sentiment analysis of enterprise social networks helps gauge morale without employee surveys

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DIGITAL CONSUMER ECONOMY: TOP FIVE TAKEOUTS

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1

2

3

4

5

The Digital Consumer Economy is here

Digital Consumers demand responsiveness, engagement and individualized attention

Companies facing value barrier and saddled with legacy processes run risk of extinction

Digitization or Digital Transformation not enough for continued relevance

Leverage Digital Five Forces in combination to reimagine all aspects of business key to success

FIVE Takeouts

DIGITAL REIMAGINATION: FIVE THINGS YOU CAN DO

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1

2

3

4

5

Find entirely new sources of revenue

Increase marketing efficiency, thereby revenues

Improve distribution with new digital channels

Invest in faster business processes, eliminate legacy workflows

Create digital workspaces for millennials

TAKE Action

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www.tcs.com/insightsTo learn how to reimagine your business, download whitepaper

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