Category: Digital Transformation

Three Tools to Help You Build a Customer-centric Business

When the topic of customer centricity arises, what follows is often a conversation that is more about customer care than customer centricity. The discussion will revolve around customer care representatives, response times, call logging and other items related to customer care. However, customer centricity is an organization-wide, top-to-bottom focus on doing everything possible to make the customer happy. While customer care focuses on a department, customer centricity is a diffuse corporate culture that recruits everyone in the organization to work towards achieving the overarching objective of making and keeping customers happy. The story of Zappos is perhaps the perfect example ... Read more

Schlumberger Drills Deeper to Innovate Oil and Gas Sector

Amid the global pivot to a “new” energy economy – solar, wind and electric – tales of the rapid obsolescence of the oil and gas industry are simply inaccurate. In fact, “traditional” energy players such as oil and gas companies are still crucial even as we transition to renewable energy and electric vehicles. Established oil and gas companies such as Schlumberger now realize that change, innovation and disruption are central for long-term success. Technology developments translate to either opportunities for those who adapt or risks for those who do not. In keeping up with their principle of putting “knowledge, technical ... Read more

Three Digital Transformation Fundamentals Every Business Must Adopt

The ongoing digital transformation trend has created “superbrands”; brands that dominate multiple industries and operate at a scale no other industry leader has ever operated. These are companies like Google, Facebook, and Amazon that each touch the lives of over a billion people at any given time. For such companies, digital transformation has created an unprecedented competitive advantage that allows them to enter any industry and immediately dominate. This agility at scale has created anxious moments for legacy businesses that wonder, or perhaps fear, what these tech giants will do next. Enterprises seeking to emulate this level of disruptiveness within ... Read more

How to Foster Innovation in a Traditional Corporate Environment

The traditional corporate environment is hardly fertile ground for innovation. With entrenched thinking, rigid management structures, and an established way of doing things, it is often difficult to convince employees to embrace innovation. In some cases, where the competition is usurping a company’s market share, innovation is usually more of an act of survival than a preemptive strike. However, companies that have a strong market position may end up resting on their laurels, exposing them to rapid disruption from forward-thinking competitors or startups. To avoid being disrupted, traditional corporations must embrace corporate innovation. Mathieu Guerville heads up the venture capital ... Read more

Volkswagen Bank: Financing the Cars of the Future

The automotive industry as a whole is facing an unprecedented wave of innovation and potential change, from connected cars to ridesharing to autonomous vehicles. Over the next couple years, the ways in which consumers own and use vehicles may be dramatically reshaped – and so will the ways in which they shop for and finance them. One of the leading providers of automobile financial services, Volkswagen Bank in Poland, a subsidiary of Volkswagen Financial Services, is already ramping up efforts to come up with new car-buying experience to meet shifting clients’ preferences. With that in mind, executives from the bank ... Read more

Allectus Capital in Silicon Valley: Fintech Disruption and Innovation Trends

Here at SVIC we recently designed and executed a custom immersion program for investment firm Allectus Capital. Allectus is a great example of how any business can discover something new in Silicon Valley; even though the majority of the firm’s $300 million portfolio is in tech sector investments, its executives still found plenty of new insights into areas like blockchain and digital transformation during their trip to the bay area.   With Allectus based out of Sydney, Australia, the majority of its investments are in the UK and the Asia-Pacific region. So the company’s one-day immersion program with SVIC was ... Read more

Digital Transformation Advances Reshaping the Oil and Gas Industry

The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980, many activities in the industry still operate as those from 30 years ago. Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons ... Read more

Nima Shomali On Optimizing Firms For Corporate Innovation

The term corporate innovation often brings to mind well-known tech titans like Google, Amazon, and Apple. The idea that large, non-tech legacy corporations like shipping companies or FMCG manufacturers can innovate as efficiently and as effectively as these companies may sound far-fetched, but this is the reality such firms are facing today. Massively disruptive technological trends are upending entire industries, turning market dominance upside down. For corporations to survive and thrive, they must develop a culture of innovation. Nima Shomali, Managing Partner at Acceleration Technology Partners, understands this need for corporate innovation all too well. Working with non-tech legacy corporations, ... Read more

Tetra Pak in Silicon Valley: Robotics and the Mindset of the Entrepreneur

Food packaging manufacturer Tetra Pak describes innovation as “a mainstay” of its survival and growth. And nearly 70 years on from its founding, Tetra Pak is among the world leaders in its industry. Tetra Pak’s commitment to discovering new ideas extends to running R&D and innovation centers across the globe. They also have an “open-door policy” for inventors who want to submit projects for assessment and possible development and support from the company. But Tetra Pak does not stop there. A vital part of Tetra Pak’s strategy is visiting Silicon Valley to learn about new technologies and trends. Three high-level ... Read more

Thomson Reuters Learns to Listen like a Lean Startup

Thomson Reuters is a truly global corporation. Present in over 100 countries, it employs some 45,000 people worldwide. Included among them are innovation specialists, technologists and data scientists. The organization even has innovation labs in several cities and a Technology Center in Toronto. CEO Jim Smith has said he believes the center will become “one of Canada’s largest technology hubs.” But even with such resources at its disposal, Thomson Reuters – like all companies in the information services sphere – has of late found its work disrupted. That includes its legal content and research business, the second-biggest area of revenue ... Read more