Digital is transforming business in every industry—requiring every company to place technology at the heart of its strategy. A study published in “Leading Digital” shows that companies who master digital will not only drive more revenue but, will on average be 29% more profitable than their peers.
Within the financial services sector a PWC study¹ uncovered that 22-28% of business across Insurance, Asset Management, Wealth Management, Banking and Payments will come under competitive threat from FinTech’s by 2020. Utilities are facing similar challenges; Accenture states², companies who provide their customers with digital services will sell 20% more home energy generation products and energy management products. Utilities offering these digital services will also secure 29% more customer recommendations.
The transformational journey to building digital capabilities begins with a strong foundation, the network. By choosing the right architecture you can create new opportunities and more efficient ways of doing business, the likes of which have never been seen before.
The Cisco Digital Network Architecture (DNA) is an open, software-driven, services-centric network architecture. Founded upon 3 key principles that will enable IT to play a leading role in enabling their organisations to embrace the key mega trends of the digital age; IOT, Cloud, Mobility and Analytics.
The first principle, Faster Innovation is all about growing revenue and increasing profits. Digital demands businesses to differentiate customer experience and re-define models quickly. Yet only 30% of digital projects will succeed [Cisco study³]. This is partly because IT processes are slow and costly and new technologies are being developed faster than they can be adopted.
The second principle, Reduce Cost and complexity is all about saving money now and in the future. Over time the network has grown complex and our customers are spending 2-3 times more on OpEx than CapEx which is unsustainable in a digital world where there growing numbers of devices, apps, users, threats and static IT budgets.
The third principle, Lower Risk and Meet Compliance is all about keeping both your organization and it’s customers safe to conduct business efficiently. Mobility and cloud by definition increase the attack surface of business, there is no perimeter… and it take 80 days to detect threats and even longer to remediate while 60% of data is stolen in the first few hours. All this while strict new regulations like the European Data Protection and Affordable Care Acts will be introduced in the near future.
If you’re from a Cisco Partner and want to learn how DNA and the technologies within the architecture resolve the challenges mentioned above, you can register here for the DNA Roadshow. If you’re an existing or potential customer, you can speak to your Cisco Account Manager who can arrange a briefing including demos with a DNA Specialist.
¹Source: PWC – Blurred lines: How FinTech Is Shaping Financial Services
²Source: Accenture – New Energy Consumer Research Program, 2015 Consumer Survey
³Source: Cisco – Digital Business Transformation: Disrupt To Win
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