Digital Transformation: It’s all about building a better e-mousetrap
Digital transformation. You may have heard of it! Improving services, costs, efficiency and security through technology. In short, building a better e-mousetrap.
It’s the adoption of digital technology to transform services or businesses, replacing manual processes with digital processes or supplanting older digital technology with newer digital technology.
Simply put, it’s progress.
Covid and remote working practices have been major contributing factors and digital transformation is in part a legacy of the pandemic, but in truth, this transformation was already well underway. As the one-liner goes, who is driving it? Is it the CEO, the CTO or C19?
Chatsworth is fortunate to work with some of the world’s most established technology firms and the most exciting challenger brands and start-ups working to improve the way the world trades and communicates through technology.
Often backed and funded by banks and investment houses, these businesses take a laser-focused look at legacy business processes and problems and hone their technology to improve them.
We’re now seeing institutions creating functions and chief architect roles to enable digital transformation with commensurate investment and budget lines to power them. The geeks truly are inheriting the earth.
Some firms are quicker off the block than others – the early adopters, if you will – but most now recognise that change through technology is no longer an ‘if’, but a firm ‘when.’
At the heart of the matter is a simple principle: effective digital transformation leads to “stuff getting done better.”
That could be SME suppliers getting paid on time or atomising research to deliver better information to banks and their clients to inform their investment or trading decisions.
It will most likely lead to improved operating costs, greater efficiency, improved transparency and enhanced data security.
Some firms, like R3, have taken a holistic view and have developed a model and technology to serve a huge swathe of business challenges.
Its Corda platform now has an ecosystem of hundreds of firms actively building solutions for their industries and sectors – from trade finance, to shipping, insurance, payments and beyond.
This is ambitious, intelligent work delivered by some of the smartest technologists and business minds, funded well and run by people who understand financial markets as well as the broader needs of business.
At Chatsworth, we love communicating about digital transformation, talking with our colleagues in the financial and technology media to amplify the transformative work our clients are doing. But it has to be in context. What business challenge are you solving? Quantify those benefits. Why is it important?
We bring our own experience of launching and building fintech brands together with our communication skills and command of technology and data to take our clients to market and link them up with their customers and partners-to-be.
It’s an amazing time to be at the heart of this hugely important sector. We’ve focussed on it for over 20 years and now the world is really paying attention.
Chatsworth was the first communications agency to focus on fintech. We’ve been building fintech reputations for 20 years, steering start-ups through launch, growth and onto corporate action, and protecting and enhancing established infrastructures.
Looking for intelligent, informed and connected fintech PR which delivers results and value?
Get in touch and let us help build your reputation and tell your story.