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Revolution in Traders’ offices – how do we negotiate the twists and turns of digital transformation?

By Denis Waechter, Sales Manager, IPC

It is now obvious that the world is in total transformation, and trading has not been spared from digitalization. New services (SaaS), based on cloud technologies, and the emergence of new use cases are revolutionizing our thinking and the sales models that have prevailed so far.

All change brings opportunities, but you have to know how to seize these opportunities.

However, all too often, we are content just to continue doing what we are used to. I suggest that we take a step back and adopt a successful method that has guided me for a number of years in many transformation projects.

The “SAPPAINS© – Denis Waechter 2012” method, which is analyzed in this article, will help you rethink the manner in which you manage your innovation projects by adopting a more global approach:

S as in Strategy: develop a common vision

A project is a bit like going on a family vacation – to get everyone to agree, you have to, along with everyone involved, have a clear objective that is simple and easily understood by all.

Obviously, the ideal would be to “adhere” your vision to that of your company or department.

A what are the key Advantages that you would like to gain?

Your advantages may be many: financial, of course, but also functional, organizational, competitive and operational.  Explain them in a manner that is clear and measurable. These advantages make up an important part of your “sales argument” and allow you to validate your choices. Agreed, for vacations, the criteria are different: sports, culture, rest, leisure activities, etc., but you have the choice.

P as in People – make your “clients” your main concern

Identify the various stakeholders from the very beginning of your project. They will be your most valuable allies over the various stages of your transformation.   This is the reason that I always write the word “People” in capital letters. And yes, depending on whether you go on vacation with your children, your friends or as a couple, your target audience will not be the same.

Adopt a communication method that is adapted to each of the stakeholders; they all do not have the same expectations. You can choose the right approaches and tools.  Strive to keep it simple and real.

P to understand the Process for optimization

A new project is a wonderful opportunity to turn over a new page and build a promising future!

How has trading evolved? What tasks can you optimize or even automate?

Are you going to outsource the planning of your vacation to an agency, or are you going to plan it yourself?

Applications:

While new tools can enrich the trader’s working environment, what are the functionalities required to obtain your objectives? On which applications will you rely? How do they differ from the current solution?

Since we are experiencing a period of extreme heat, will you opt for the seaside, the fresh air of the mountains, or a visit to a city?

Infrastructures:

Between virtualization, dedicated servers and Cloud hosting, you have an embarrassment of choices regarding infrastructures and sales models.

In a world as specific as trading, you must ask the right questions regarding the life cycle of the solution and the skills required to run the infrastructure and the software.

…going back to the vacation (it’s that time of year), you have a choice: rent an apartment, camp or opt for an “all-inclusive” club; you have plenty of options.

Networks:

Networks are key components of trading, since they support each step of the life cycle of a transaction.

Your networks are literally the backbone of your information system.

On which networks are you going to rely, and what are their specific features?

Regarding vacations, you have to decide on traveling by car, train or airplane; you have to choose the mode of transportation that best suits your project. This step does not necessarily occur at the beginning of the decision process since it will depend on a number of factors: distance, cost, etc.

S as in Services:

Explaining your project in the form of a service will be particularly useful, especially if you have adopted the ITIL approach in your organization, in order to be able to integrate it into a catalog that is consistent with your company.

A catalog of vacation destinations is a bit like your catalog of computer services. Even if the photos of beaches lends itself to daydreaming, it allows you to clearly document what your users are going to obtain, and this will turn out to be very useful.

In conclusion

In an environment as dynamic as that of trading where, paradoxically, the requirements for flexibility, innovation, and speed have to coexist with the need to respond to ever more restrictive regulatory requirements, it is imperative to involve your users in the digitalization process. If you do, you will improve your chances of success considerably.

Whatever one might say of it, technology remains above all in the service of humanity, and not the other way around.

And yes, you have said it, the theme of a vacation is a central theme in this month of August, where soaring temperatures lead to fertile imaginations.

© 2018 IPC Systems, Inc. All Rights Reserved. The contents of this publication are intended for general information purposes only and should not be construed as legal or regulatory advice.