PKI Digital Signatures — Just a faster horse?
There is a commonly held view that new digital technologies are the driver for dramatic changes in customer behaviour and digital transformation for businesses these days. In fact, here in Iceland and Western Europe we’re starting to see more and more businesses making use of one such technology I’m interested in, namely the PKI mobile digital signatures, for acquiring signatures on documents and consent for certain actions from their customers. But I can’t shake the feeling that business are doing this all wrong.
Let me explain. I am of the view that new technologies are not the driver for digital transformation but rather an enabler. In my point of view the ability to digitally reimagine the business, adopting the business models and operations to meet the enhanced expectation of the digital consumer and ecosystems, stem from a clear digital strategy that is supported by a willing-to-change culture and leadership.
Such strategy lends businesses the ability to transform how their business works and how they connect to, and create value with and for their customers and partners. However, the dominant trend we’re seeing here is focused on solving discrete or local business problems with individual digital technologies such as these digital signatures, a sign of being a less mature digital business. Why is that?
The key issue is a lack of digital strategy, which defaults digital initiatives in scope and objectives to focus decidedly on local operations. This problem is then compounded by the value proposition offered by all current signature service providers who aim to give business the ability to digitize their documents and have them signed electronically, hence only digitize the current paper process and inhibit conversion of documents into data and then into valuable information for the business and the value chain. They are basically selling signatures and not solutions the real problems businesses need to service digital consumers.
Businesses need to rethink their customers’ path to purchase in this new world and think of customer networks. Consumers are connected and are actively influencing each other, and thereby shaping and reshaping business reputations. Furthermore, the fact is that increasingly, competitive assets may no longer reside in the business but reside to a greater extent in a network of partners that are brought together in a looser business relationship to provide new digital offerings.
In order to achieve this, businesses have to focus on establishing trust and together dismantle established business silos in the process that should deliver value to customers. Used correctly, the digital signature technology is instrumental in making a trusted and effective cross-company business process; lending authentication, identity and consent to all actors in it. Such a business process has the ability to revolutionize the level of service and value to customers and as an added benefit; unlock new levels of efficiency in time and cost reduction throughout the value chain and provide transparency of where things are at in the process to all actors.
Digital signatures have the potential to become an essential part of a spaceship, but if you’re not careful they are just a faster horse.
Credit:
. http://sloanreview.mit.edu/projects/strategy-drives-digital-transformation/
. http://www.pwc.com/us/en/supply-chain-management/pdfs/pwc-digital-transformation.pdf
