Revolutionising The Impact Of Digital Transformation On Businesses Through The TTT Model
Anant Agrawal , MD, Skillmine Technology Consulting, 0
Challenges of Digital Transformation
1. Successfully navigating digital initiatives involves overcoming challenges in project success, ROI, and adaptability by acknowledging that Digital Transformation is not merely a Technological Initiative - it's a Cultural Change for the Business. To implement this change effectively, one can either buy a solution in SAS on subscription model or leverage to make a Minimum Viable Product (MVP), making it a pivotal Buy vs. Make Decision.
2.Digital Transformations often begin with an MVP, serving as the project's foundation for subsequent enhancements. While leveraging MVPs is beneficial, ongoing refinement through an agile
1.approach is crucial for adapting to changing circumstances and aligning with evolving business requirements.
2.Additionally, using various subscription models may pose issues with third-party (Intellectual Property) IP ownership. Thus, prioritizing customi-zation in the product roadmap is essential to address specific needs. However, this can lead to an undue dependency on technical partners to adapt to changing demands along the product roadmap.
3. During a digital transformation process, uncertainties arise regarding cultural change, the success of the adapted business model, and the technology's capability to deliver desired business outcomes.
Therefore, the Transformation & Technology Total (TTT) model of Skillmine that can significantly overcome these challenges and ensure sustained success.
Transformation & Technology Total (TTT) Model
The TTT is a comprehensive model focusing on transformation and expert technology execution through a forward-thinking transaction approach. This model weaves technology into the fabric of a business, from operations to customer engagement. The Transformation strategy is a collaborative effort in which the customer takes ownership of the business transfor-mation and cultural change. Skillmine guarantees that the technology will align with and seamlessly deliver their unique business goals. This strategic division enables clients to concentrate on overarching transformation objectives. This collaboration optimizes efficiency, minimizing disruptions in the integration process. In the TTT model, the ‘Transfor-mation’ strategy is owned by the customer and the ‘Technology Execution’ by the Skillmine.
Characteristics of the Model
•The service provider engages in a skin-in-the game model, dividing project costs over three years through licensing. Skillmine is not paid anything initially.
•Skillmine envisions a minimum one-year commitment on MVP Delivery within a 3-year Contract for optimal ROI.
•Successful implementation of the model extends to a five-year licensing, granting clients IP control after three years and the code after five.
•if business scaling falls short post-year one and the business model is unsuccessful, Skillmine commits to shut down the project to retain, reuse, and repurpose the code.
•Skillmine, as the service provider, bears the risk of loss alongside the customer, emphasizing the strategic nature of the collaboration.
In conclusion, the TTT model provides forward thinking transaction approach to technology inte-gration, offering businesses a balanced, long term strategy for sustained growth and success. Skill-mine's TTT guides businesses toward innovation and evolution in an era of rapid technological change.
Anant Agrawal, MD, Skillmine Technology Consulting
With over 26 years of cross functional experience across various tech organizations, Anant is an advocate of driving organisational growth and transformation by leveraging cutting-edge techno-logies.
While leveraging MVPs is beneficial, ongoing refinement through an agile approach is crucial for adapting to changing circumstances & aligning with evolving business requirements
Transformation & Technology Total (TTT) Model
The TTT is a comprehensive model focusing on transformation and expert technology execution through a forward-thinking transaction approach. This model weaves technology into the fabric of a business, from operations to customer engagement. The Transformation strategy is a collaborative effort in which the customer takes ownership of the business transfor-mation and cultural change. Skillmine guarantees that the technology will align with and seamlessly deliver their unique business goals. This strategic division enables clients to concentrate on overarching transformation objectives. This collaboration optimizes efficiency, minimizing disruptions in the integration process. In the TTT model, the ‘Transfor-mation’ strategy is owned by the customer and the ‘Technology Execution’ by the Skillmine.
Characteristics of the Model
•The service provider engages in a skin-in-the game model, dividing project costs over three years through licensing. Skillmine is not paid anything initially.
•Skillmine envisions a minimum one-year commitment on MVP Delivery within a 3-year Contract for optimal ROI.
•Successful implementation of the model extends to a five-year licensing, granting clients IP control after three years and the code after five.
•if business scaling falls short post-year one and the business model is unsuccessful, Skillmine commits to shut down the project to retain, reuse, and repurpose the code.
•Skillmine, as the service provider, bears the risk of loss alongside the customer, emphasizing the strategic nature of the collaboration.
In conclusion, the TTT model provides forward thinking transaction approach to technology inte-gration, offering businesses a balanced, long term strategy for sustained growth and success. Skill-mine's TTT guides businesses toward innovation and evolution in an era of rapid technological change.
Anant Agrawal, MD, Skillmine Technology Consulting
With over 26 years of cross functional experience across various tech organizations, Anant is an advocate of driving organisational growth and transformation by leveraging cutting-edge techno-logies.