While “digital transformation” is probably one of the most over-used terms in the past few years, to embrace it, is not easy.
Interviewed in the Marketing magazine, Jeffrey Seah, venture partner at Quest Ventures, said transformation itself means restarting the business with a new mindset and operational structure. If SIA really has transformation in its agenda, it has to “depart from the established topping up mindset” that is prevalent among many government bodies and MNCs.
The “topping up” mindset comes from adopting best practices from other companies (or start-ups) to gain ideas, and add that to the current business model. But it doesn’t necessarily mean hitting the restart button as transformation ideally should. For SIA’s transformation to work, it requires the company to have the mindset that it is changing the business from the core.”