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Sri Lanka’s companies should understand their digital customers to create value: Digital Expert
15 Oct, 2014 15:39:08
Oct 14, 2014 (LBO) – Sri Lankan companies need to adopt and engage more with the customers digitally to drive value creation and to face competitive market, a digital expert said.
“Any company is in the market is for nothing but to create, deliver and capture value,” Peter D’ Almeida, Managing Director and Chief Executive of, N*able said.

“That’s the only purpose of any company’s existence,”

“Today the market has changed tremendously and the change has driven by the disruptive technology,”

“The market has fully adopted to digital. Our customer has changed. They are well informed, they have groups. They are well ahead from us of the game,”

“But companies have not adopted technology as fast as they should.”

He was speaking at an enterprise summit on “Why should social, mobile, analytics and cloud be in your transformation agenda” held Colombo yesterday.

The summit was organized by LBR and the LBO.

About 6.8 million people in the world use smart devices and 1.7 million people use social. More than 400 million people use twitter globally, data showed.

About 20 percent of the population use smart devices in Sri Lanka.

Almeida said social media, mobile analytic and clouds (SMAC) has changed the ways connecting, communicating, collaborating and taking collective action of today’s customer.

So he suggests that the companies too should adopt these technological transform to be distinctive and to make value from distinctive customer who create data in many forms of digital space.

However he says the process of digital transformation is very slowly moving in the corporate sector.

“So where is the problem of adoption of digital slow?” Almeida asks.

“I think the fault largely lies with CEO’s and CFO’s,”

“Because CEO’s are leaving this to IT which place an unnecessary burden to IT because, they have got another set of challenges,”

“CEO’s passing the bug saying, we do not understand. This is technology,”

“Where as CFO, do not understand enough about their intangible assets: their customers. And they are fighting with their old balance sheets and old outdated and antiquated tools to give CEO’s an idea of where they stand,”

“This is ridiculous,”

“So this is where the problem begins.”

“How are you going to innovate if you do not know about your intangible assets?.”

Almeida said with today’s competitive market, companies have to make use of digital to be distinguish themselves in the competition and to be distinctive in offering to the customer.

“Digital is here. Use it. Digital should be in the agendas of all CEO’s right up front,”

“With insights we have an ideal market segment.”

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