Whitepaper

As we begin to grow increasingly familiar with the concept of the metaverse, financial institutions are faced with multiple opportunities to maximize its potential – both for the end customer and for employees. While there will still be hurdles when incorporating the metaverse into commercial strategy, the value and competitive advantage of early adoption far outweigh the challenges.

Hybrid work models are now an important decision-making factor for job seekers. The clear majority of employees want a hybrid working model with the flexibility to choose between home and office as needed. The shift to hybrid work presents CEOs and CHROs with new challenges, but this change ultimately increases both organizational performance and employee loyalty.

Roughly 20 years after its inception in the business world, cloud adoption is now all but universal, with almost every sizable company utilizing cloud services to some degree. However many of these companies still aren’t realizing its full potential, often due to the complexities of breaking away from their legacy systems. With the future of business predicted to take place on the cloud, such organizations face an increasing urgency to remain competitive by taking advantage of the full suite of cloud capabilities.

Cloud technologies are widely lauded for their sustainable cost advantages and built-in business flexibility, meaning that a shift to the cloud is often a key IT priority in increasing an organization’s competitiveness. However, an understanding of the growing ecosystem of technologies is a prerequisite for avoiding pitfalls – and cloud adoption must be carefully integrated into a holistic business transformation strategy to succeed.

As we approach the era of the Metaverse and XR, leaders can benefit from deepening their understanding of the opportunities, challenges and entirely new dimensions of business that will become an integral part of our professional lives in the next decade. While mass adoption is not yet widespread, the journey has already begun – and for early movers and enablers, the rewards could be significant.

The advent of 5G networks has caused a great debate within the global telecommunications sector. The new generation of wireless networks is viewed as a savior by some, set to transform the industry back into a growth engine; to others, it looks to be another huge capital expenditure with an uncertain use case. For 5G to reach its full potential of becoming a significant revenue source, carriers need to adopt an ‘outside in’ approach to innovation.

Recent research from NTT showed that over 90% of organizations recognize the value of employee experience to their strategy, or as a crucial strategic differentiator, but just 25% fully agree that the value of EX is understood and embraced across the enterprise. Forward-looking organizations have moved ahead with secure-by-design digital transformation to enable hybrid working – and are reaping significant rewards. But can leaders, managers and employees agree on what the future of work should look like?

New and evolving technology landscapes need evenly-matched cybersecurity: as new opportunities arise through digital tools, so too do new risks. Using a framework such as Zero Trust – which assumes every entity attempting to access the system or network may have malicious intent and therefore, as a default, should not be trusted – provides the visibility and controls needed for modern businesses to protect themselves and their customers.

Trust is an imperative value in human interaction and behavior. In the business world, this is no different. AI has also become a key tool in unifying the business world with human elements to help automate processes and manage complex data. The pressure is on for organizations to keep up with the times and adopt using AI, but why are some companies hesitant to do so? Can AI be trusted?

Manufacturers are dealing with fundamental changes in every part of their operations, with a growing demand for higher product customisation, making traditional manufacturing processes no longer fit for purpose. It’s time for manufacturing to undergo a new stage in its transformation: Hyper Automation.

Business norms have been swept away by the Covid-19 pandemic; because of this disruption, change had to go deeper and faster than conventionally thought possible. Instead of “returning to normal”, we must now refocus technologies, working practices and business models to create an environment that will be starkly different to the old ways of working.

What does it take to build an intelligent enterprise? The combination of human intellect and the computer’s proficiency in performing rules-based tasks creates a hybrid ability far better than man or machine can achieve alone. To become a digitally optimised organisation, and sustain it, companies need a clear understanding of what they hope to gain, plus a cohesive plan to bring technology and people together for the maximum benefit.

No industry has been left untouched by the pandemic. Since its onset, companies have been in a constant state of heightened flux: adjusting, recovering or strategising for the future, and all eyes have been on the technology that has helped carry them through. As the economy starts to recover, organisations must pivot to meet any challenge head-on.

Technology has played a momentous role in responding to the Covid-19 crisis: supporting healthcare, enabling businesses and governments to function remotely and keeping people connected in lockdown. This speaks directly to the social impact goals of many companies around the world, whether that is to safeguard the health and safety of employees, bring communities together or improve access to vital services like health and education.

The world is changing beyond recognition. Society is increasingly demanding that companies address sustainability as part of their transformation to a post-pandemic world. Sustainability is now firmly on the C-Suite agenda and it’s at the heart of NTT DATA’s vision for the future.

There are a number of reasons for the pressure to change that many companies are feeling: economic globalisation, unforeseen crises, the rising complexity of business processes, and digitalisation at all levels to name a few. Companies are responding with new structures and processes. In doing so, management has to rely heavily on HR, because every positive change is built on the willingness and skillsets of employees. HR shapes extensive aspects of change and HR managers, therefore, are increasingly becoming change managers – and have to stand the test of this new role.

Organisations that are focused, resilient, responsive, adaptable, versatile and able to sustainably innovate are successful. Taken together, these traits are known as ‘Business Agility’. The benefits are significant, including better organisational health – the best indicator of long-term performance. Despite this, many organisations struggle, with common challenges holding them back. At NTT DATA, we know it doesn’t have to be this way. This paper assesses the underlying challenges and describes our Business Agility framework to help clients thrive in the years to come.

The sudden shock of the changes brought about as a result of coronavirus has passed, and we are now settling into what is likely to be a long period of working from home. Our sister companies, particularly NTT DATA Italia, have been coping with this situation for some time already, and we have benefitted from their experience. We would like to share some of what they have discovered.

New norms are emerging. Social movements, such as Black Lives Matter or Fridays for Future, urge companies to position themselves politically; and new legal frameworks and standards such as GDPR push companies to rethink the ways they develop products and services. As the responsibilities of companies grow and change, making sure that ethics, diversity and inclusion, and sustainability are built into every process is essential for both consumer and company.

How is the Covid-19 pandemic different from other crises, and how can organisations build resilience? A well kept secret of the most successful companies across the globe is speed-to-learn. If you can learn quickly, you can change quickly, and if you can change quickly, you can capitalise on crises, extreme events, and the ever-shifting inclinations of consumers.

The white paper examines some of the key challenges facing organisations as the digital revolution gathers pace. By understanding the new disruptive environment and connecting people across (and beyond) the workforce, organisations can become more motivated, inventive, adaptable and quick to respond.

This paper investigates how to build a high-performing company culture through purpose, meaning and entrepreneurship.