Am I still living in the 21st century or did I just get teleported back a few decades? I just got a feed with a story that says 24 percent of execs have no clue as to why tech is important to their company – huh? Yes, it’s true according to Citrix. Makes one wonder how the execs from these companies can even tie their shoe laces in the morning.
One shining example of that are cab companies. I take cabs regularly in lots of cities. I am always amazed when I am asked if I intend to pay by credit card. Then, once I do, it can be any number of payment methods. Would Uber be as successful if the cab companies were on the tech bleeding edge? And, I think it’s time to sell my stock in DVD manufacturers pretty soon too. Another segment is the media.
The Citix report claims that 40 percent of today’s organizations will no longer exist in 10 years. And technology is now seen in virtually every business at one level or another. So how is it possible that so many business leaders are in the dark? It is somewhat of a mystery with no clear-cut answer.
Along with that statistic comes some others that sound unbelievable. Twenty-seven percent of UK board-level execs do not feel that their organization will have sufficient time to integrate digital platforms to replace analog ones. Fourteen percent say they will not make any changes that will enable the integration of digital methodologies. And 36 percent are struggling, trying to fully integrate digital technology into their business strategy. Finally, 15 percent are still communicating with their customers via fax (that would be my attorney).
Studies like this present some interesting food for thought. At the board level, I can’t imagine any company that couldn’t benefit from technology. There is a 100 percent guarantee that, in today’s world, technology gives one the edge. Digital technologies redefine business, making them significantly more productive and competitive. That has been proven.
Technology is kind of like the old BASF commercial catch phrase – “we don’t make the product; we make the product better.” Maybe if we put it to them that way, they would get it.