Business Digital Transformation Framework.
In this article, I offered my thoughts on Framework to enable the right companion for the Digital Transformation Journey.
Praudyogiki (means Technology -प्रौद्योगिकी) Framework assist businesses to designate the right companion for their digital transformation journey. It helps articulate your strategy and make it simple to choose from and understand different digital enablers(Technology or Partner) citing their scenario, and forecast monetization of opportunity.
The Pr-Au-D-Yogi-Ki framework can be abbreviated as.
Pr ice strategy, Opt. technology partners with ‘strategic pricing model’.
Companies shouldn’t attach to just one pricing model. Consider shifts in your growth trajectory and target market, pricing model requirements can change effectively for your business thus dynamic pricing model works better. The strategy should be dictated by your product and the market your product is present in.
A strategic pricing model allows concatenating models with each other to better target different market segments and business scenarios. For example, one could use a price skimming strategy with a flat-rate model, A tiered pricing model with a penetration pricing strategy, and A freemium strategy with a pay-as-you-go model.
Au : Auxiliary Resource availability and scalability.
The digital resources should possess the quality of being scalable to system need and equip with auxiliary options to make a robust transition.
The need for technology scalability will always be there thus understanding, prioritizing, and executing these scalability strategies will secure a front-row seat for companies in today’s competitive playing field.
Example: software-as-a-service (SaaS) model helps achieve scalability using multiple computing units when required.
D : Designated Budget innovation(POC) & Dominion through Governance.
Enterprise should focus on designated fixed budget innovation solutions for persisting digital resources. They sometimes lack direction while setting Proof of Concept(POC) for proposed innovation or parameters for minimum viable products (MVPs) thus a fixed budget with help address overhead cost and streamline the innovation process through a continuous economic cycle.
The company should establish a power of rule through centralized control and governance, monitoring resource vitals, security audits, and server count. This helps build trust and achieve cost-related goals.
Yogi : Think like a ‘Yogi’.
A Yogi — means ‘one who does things in perfection. In the digital transformation journey, perfection can be attained by decreasing human footprint over time which eventually help reduce the cost of digital transformation by curtailing human resource wastage in tasks.
And Yogi is considered as one with a balance of activity and rest. The digital infrastructure should be able to predict, through learning model, and forecast, by analyzing, activity and rest period for a different segment and thus help manage cost and utilization.
Ki : 気-Air : ‘Learn from Air’ the art of equality and universal constant availability.
Companies should Opt. for technology partners with ‘Air’ like qualities thus have digital resources shared efficiently. As ‘Air’ follows Equality in sharing and is available to everyone ‘as per their need’ the digital resources should be shared and distributed as per real-time demand by the system.
As Air poses the quality of being universally available with the same composition. Digital resources should be consistent in performance across geographies with the same computing power delivered contently.
Finally, we know that Air changes as you go up. Increasing the company’s size, revenue, and customer base moves up demand for their digital resources thus they should be scalable to meet companies growing computing demand.
Praudyogiki Framework Benefits
This framework helps set clear expectations for enterprises in terms of key performance indicators(KPI’s) for their digital transformation journey. It helps them understand that transformation is not just about driving efficiency or reducing operating costs but to enhance customer experience. It also helps communicate their strategy to stakeholders and forecast early monetization of opportunity.
Summary
In this article, I offered my thoughts on conceiving Praudyogiki (means Technology -प्रौद्योगिकी) framework, which summaries as Pr - Price Strategy, Au - Axillary Resources, D - Designate innovation, Think like a ‘Yogi’ and Learn from Ki (means air - 気), to help enterprises choose right partners /technology that can act as enablers in there digital transformation journey.
About Sunmeet Singh Oberoi
Sunmeet has a proven track record in Enterprise digital transformations and strategy initiatives in the domain of manufacturing. Sunmeet is working with Tata Consultancy Services in Strategic growth business addressing Manufacturing industries digital solutions with present in international geographies.
Sunmeet has been active in technological updates and business transformations journey throughout Bachelors in Engineering and Technology, being involved with startups as well as MNC’s, solving business needs through digital solutions. With a knack for combining business constraints with technology through a combination of consulting, Business strategy & digital products management to address Business 4.0 needs.
LinkedIn : https://www.linkedin.com/in/sunmeetso/
