- Escalation of Digital Economy:
Covid 19 catapulted the global economy into the digital future, with new practices implemented that were only expected 5-10 years from now.
- Resulted in a Hybrid Working Model:
The need for remote working has changed how and where we engage, with increased complexities and challenges.
- Increased our cyber security threat landscape:
Work from Home turned established cyber security practices ‘inside out’ by placing significant data and communications outside the traditional security perimeter.
- Created opportunity for change:
The digital economy offers significant opportunity for improved business performance and value, while also creating opportunity for greater corporate responsibility and sustainability.
The Modern Workplace responds to these market changes by providing a new operation business model based on innovative technology that enables a better business process.
We’ve captured what we believe are the principle elements of this Modern Workplace:
Business Model Transformation – Business change, not process automation
While most businesses are embracing digital transformation, this is in fact only the automation of existing processes and operational models, many of which are outdated and unsuited to a digital economy.
The opportunity and need is for ‘business model transformation’ towards more inclusive models that are more resilient and will stand the test of time. This is ‘Process Re-imagining’.
Data Management – Unlock the Value
Data fuels the digital economy and there is a clear change in business emphasis from a focus on efficiency to one of value. Data is the value and the Modern Workplace unlocks it.
Corporate Governance – Enabling trust, innovation and change
The unquestionable benefits of a digital economy must be balanced with responsibility, accountability and trust, with commercial and social strategies underpinned by increasing regulatory governance and complexity.
Organisations are now harnessing the Modern Workplace to help them shape and scale corporate governance into a power for good, not a constraint on growth.
Information Management – The freedom to share
The digital economy is powered by the sharing of information and intelligence, with an expected 70% of new value in the next decade created by ‘digitally enabled platform’ business models.
But without effective technology, there is no trust, innovation is impacted and potential constrained.
By giving organisations the freedom to share information freely and in an orderly manner, we can release them from these constraints and enable them to fully realise the potential for greater economic prosperity and inclusion.
Technology for Good – Closing the Circle
Just as the digital economy with shape our economic future, the circular economy will determine how sustainable that future is.
Artificial intelligence and machine learning will accelerate our ability to reduce waste and, as these technologies continue to evolve, multi-stakeholder collaboration is necessary to optimise accountability, transparency and trust.
Only with the right technology can we provide that trust and the Modern Workplace empowers organisations to fully exploit the benefits of the circular economy without having to experience the risks.
The Modern Workplace is exciting, innovative and empowering, providing businesses with the means to achieve greater performance and growth while improving the lives of their employees, customers and society as a whole. We should embrace it and make it work for the benefit of all.