27.10.2017

How to take the Business Model plunge?

Digital transformation comes to companies not only as a technological revolution but also as a change of business model. We are no longer trying to sell products, but services. This transformation involves placing the user at the centre to cover his needs. Carlos Cuffí explains this while introducing “New Business Models” at the GoingDigital OPEN and challenges the participants to become hackers of their own company.

 

Eleazar Santos: Being an Incumbent or an Insurgent Company?

Digital transformation is about adding value. What does this mean? Resolving a real, existing need. Companies no longer create a product and then think about its utility; now they detect a need and cover it.

Eleazar Santos‘s speech highlights the importance of listening to the user thanks to a communication that is no longer one-way. Now, new tools required to gather information and learn from it are available, so that companies customise and make their service a unique experience tailored to each user.

Being an “insurgent company” depends on following and listening to its users, adapting to their needs where possible, as opposed to an “incumbent company”, one which comfortably operates within its monopoly, offering very general services.

 

Patricia Jorda, the Kantox Case

As an example of an insurgent company, we have Kantox, presented by Patricia Jorda, Director of Corporate Strategy, at this GoingDigital OPEN. She describes Kantox as a disruptive business that succeeded in finding a niche in the great oligopoly of the traditional financial market: the risk that currencies pose to companies.

By providing a service to which careful attention was paid, at a much lower price, and involving a great deal of work on brand strategy and sales pitch, Kantox manages to:

1) Listen to the client, adapting to their preferences and needs in both the sales pitch and the product offered.

2) Foster a flexible and fast company culture.

3)  Automate its services by making intelligent use of technology.

 

Yago Llaquet: “You Can Be Disruptive in Your Own Business”

However, technological change does not only apply to new companies, but also to traditional ones. This is explained through real examples by Yago Llaquet, who, with a background in launching start-ups, finally joined a company with a track record of over 150 years, Bayer Laboratories.

One problem that large companies often have to face, according to Yago Llaquet, is that they want to go so fast to keep up with technological developments that they often forget fundamental aspects. To solve, he recommends putting actions in order. Yago Llaquet also highlights that “You can also be disruptive in your own business”, as has been done pharmacies through digitisation of points of sale to offer a personalised service.

 

Listening to the Customer and giving a Value Proposition

This GoingDigital OPEN ends with a round-table in which our three speakers agree on the importance of actively listening to the user: while Eleazar Santos invites the participants to visualise opportunities where they see as barriers, Patricia Jorda reiterates the importance of having a good value proposition as a company, and Yago Llaquet stresses the need to push digitalization past the limits of unique departments to ensure that it is embraced by the entire organization.