A recent survey in Australia reported 88% of businesses seeing digital startups as a threat with 63% already affected, and 57% of leadership were unsure of what their industry will look like in three years time. But I disagree that simply investing in IT infrastructure and digital skills is going to solve this problem.

Simply spending more on IT without clear direction isn’t going to transform a business into a digital leader.  

In research we commissioned (Leading Digital Business Transformation) to look at the factors that differentiated digital leaders from the laggards, three distinct findings were:

  • Digital disruption is a business challenge, not an IT problem, so the CEO needs to lead,
  • Customer experience is the guiding light by which to set all strategy,
  • Organisational alignment and a culture of customer-centric innovation are required to maintain a leadership position.

I believe that those businesses who focus on their customers, and truly listen to what they're asking for, will invariably do better than businesses that simply focus on making digital mousetraps.