Paul Roehrig, Chief Strategy Officer, Digital Business & Technology at Cognizant, was recently a part of the star-studded lineup of speakers at our HFS OneOffice™ Digital Symposium. In a Digi-side Chat with our very own Saurabh Gupta, he discussed his recent book; Monster: A Tough Love Letter on Taming the Machines that Rule Our Jobs, Lives, and Future. The inspiration for Paul’s book came from questions clients frequently asked, particularly around the concerns for the technologies they were using—had they created a monster?
We’ve been talking about digital transformation for some time now, but thanks to the pandemic, the pace of digital adoption has rapidly accelerated. It’s undeniable—digital technologies are reshaping the world as we know it, and for enterprises, that means having an ever-increasing quantity of data. Paul told us about thebeast this has created and how enterprise leaders must tame it if they hope to realize these technologies’ true benefit while maintaining clients’ freedom and privacy. For Paul, the key to taming the monster is managing data better, as it’s impossible to build trust with clients and modernize consumer experience without embracing data.
Paul explained that traditional data organization often ignores critical metrics like customer experience, and enterprises must develop a new modernized manifesto for managing their data effectively, capturing all key metrics. While recognizing such an overhaul is a big investment, he explained that enterprises must look beyond short-term losses and instead focus on long-term benefits, giving them the ability to capitalize on future markets and revenue streams. Furthermore, Paul made the point that investors are increasingly judging companies on their adaptability, assessing their ability to shift and align with ever-changing consumer demands. It’s more important than ever for enterprises to have a modernized data infrastructure.
Source: HFS Digital Symposium, June 8-9, 2021
But Paul didn’t just introduce problems for enterprises; he also came armed with solutions. While he confessed that these might look like simple adjustments, he explained that they are, in fact, “chunky” concepts to explore. Paul outlined four critical points that enterprises must address:
As we continue to delve deeper into the digital-enabled world, enterprise leaders must be aware of the business monster they may be creating. In response, they must recognize the importance of their data and ensure they manage it effectively to drive freedom and privacy while continuing to deliver desired outcomes.
You can read other POVs and a comprehensive ebook about the Symposium, plus watch video highlights of the two-day event, here.