The eighth continent is a world of disruptive techno-logies. Rules of the game are very different here.
By Guru Prasad Gaonkar
I know what all of you are thinking. What is this eighth continent and why is Oracle talking about geography? Well, let me explain. By the eighth continent, I mean the digital continent, where we spend most of our time for personal as well as for professional reasons.
According to some reports, 4.4 billion people live, play and conduct businesses on the eighth continent—that’s 58% of the world’s population spending 6 hours and 42 minutes each day on this continent. Eighth continent is a world of disruptive technologies, not restricted by borders or languages, the rules of the game are very different here.
Data is your currency – earn it and use it well
Data is a highly valuable asset on this continent. Success on this continent depends on how you generate insights based on this data to drive business growth. To get actionable insights, it is imperative that there is seamless flow of data between all the functions of organisation. On this continent, emerging technology like automation offer a way to eliminate worry and provides a single source of truth to all the functions of an organisation. Companies with the right corporate and technology leadership will seize the opening offered by cloud computing to begin their journey immediately to the eighth continent—before it’s too late.
Plan your journey and subscribe to the future
Before this eighth continent, business applications such as ERP, HCM or CRM used to live in the backend and the cloud was a muse for poets and a research topic for weathermen only. However, on the eighth continent, CEOs and CXOs are moving away from traditional business models and are “subscribing to the future” which has ready access to business capabilities in forms of continuous quarterly updates just like your phone updates. In other words, you need to create “Your tomorrow, today!” You need to invest in a trusted tech partner, who can help you to ease your transformation and can foresee and take care of your future needs.
Transforming roles – new skillsets
Traditional roles do not work on this continent. CIO alone is not responsible for IT requirements of the organisation. All the C-suite leaders need to understand the technology to usher in digitalisation of their respective functions. They need to have the capability to don the digital hat.
Be technology led not tech enabled
On the eighth continent, only agile, customer-obsessed businesses will be successful. These businesses will rapidly take advantageof emerging technologies: working continuously with new solutions, discovering new business possibilities enabled by these technologies, and then bringing those new possibilities to the market. However, residents of this continent need to be acutely aware of security.
“You either disrupt or are disrupted.” This statement sums up the complete meaning of the life on the eighth continent. We must embrace this change and assume responsibility for creating the right digital culture and mindset to generate thoughtful and fruitful experiences. The transformative, hyper connected digital continent is teeming with unimaginable opportunities. No doubt that this is a new territory, but by moving ahead with courage, respect and care, the digital continent can be the greatest place to live in for the global community.
The writer is APAC SaaS leader – Office of Finance (ERP) & Digital Supply Chain, Oracle.