Around half of the Fortune 500 companies have disappeared since 2000. Formerly established companies have been replaced by relative newcomers like Google and Amazon – webscale companies with virtualized resources and infrastructure that can rapidly adapt to customer demands. In other words, companies that are by their very nature digital and cloud first.
So how can your business kick-start its own digital transformation to ensure competitiveness now and in the future?
This was the topic of our recent webinar: “Nokia Cloud for a fully digitalized business”, where speakers from IDC and Nokia addressed exactly how the cloud is the key enabler for digital transformation. It provides the agility, automation and scalability needed to innovate more rapidly, operate more efficiently and make better use of available resources.
With a cloud platform in place, businesses can enable ideation and rapid prototyping, accelerate innovation and create new always-on business models that are instantly global and scalable. In other words, keeping up with the rapid pace of change in the digital economy. This is especially important for service providers as we see 5G and the Internet of Things come into play – it’s unclear which new services will take off, so having a flexible platform is crucial.
Feedback from webinar delegates broadly matched the results of IDC’s research. For example, when it comes to creating and implementing a digitalization strategy, the answers ranged from “We have no strategy” all the way up to “We have a strategy and have been implementing for at least 24 months.” However, even when a strategy is in place, 55% of companies are having trouble executing their digital transformation plans.
During the Q&A, delegates put forward some compelling questions, such as whether service providers are viewing digital transformation strategically or simply as a short-term cost benefit, as well as what are the key use cases driving service providers towards a cloud-based platform?
Sound familiar? If your company is also planning to transform into a digital service provider, then I encourage to take an hour to learn more about implementing a cloud platform.
Visit our website to read more about Nokia Cloud solutions.
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