Digital transformation will become the determining factor in a business's revenue growth
“Digital Disparity” is a relatively new term, coined by one of Japan's major consulting firms. It refers to the ever-growing gap between organisations that successfully implement digital transformative strategies and those that do not. Indeed, in 2021 major firms that successfully utilised digital transformation recorded growth rates that were up to five times those of firms that did not. This trend is only expected to accelerate.
A monumental shift in the way companies fundamentally operate is on the horizon. Although this change will certainly present formidable challenges, it will also offer great opportunities for those prepared to seize them. Digital transformation has the power to create a corporate environment where human potential can be fully realised. This, in turn, should motivate organisations to evolve so they can remain competitive within a dramatically changing business climate.
Since the time of its predecessor, Fuji Xerox (founded in 1962), FUJIFILM Business Innovation has been in the forefront of corporate transformation, which they call Business DX. They have achieved this by maximising the value of information and enabling its swift and effective communication. The organisation has taken steps to ensure that vital information can be accessed and used effectively by all its people. A business’s two greatest assets are information and its people. You may reasonably ask what can be gained by focusing on these two vital assets when working with companies. FUJIFILM Business Innovation’s President and CEO, Naoki Hama, discusses his view of true digital transformation and how it will lead to a profound revolution in business.
What does true digital transformation mean?
And how will it spark business evolution?
“Even after changing our corporate name to FUJIFILM Business Innovation in 2021, we continued to focus on the vital relationship between information and people,” says Hama.
“Thirty years ago, our business was mostly the development of multifunctional printing devices, which themselves underwent a kind of digital transformation at the time. Although we have now shifted our business to include solutions and services, our dedication to the effective handling of information has not changed. Throughout our history, we have worked ardently to develop business processes that ensure that essential information is available to everyone,” Hama explains.
The concept of digital transformation evolves over time, and the solutions will evolve in tandem with that.
“Recognising the value of using information effectively is in our corporate DNA. We combine this enduring legacy with the technological innovations we have continuously honed throughout our history. In this way, we endeavor to promote digital transformation, maximising the value of information within corporations,” Hama states.
In order to promote digital transformation, we must define our specific goals for it.
Many companies focus predominately on the digitisation of information; however, Hama stresses that we should not stop there.
“It is of the utmost importance to use digital technology to achieve wider corporate transformation, ultimately leading to improved efficiency and the creation of value. As working styles become more diverse, we strive to create environments that support flexible and creative modes of work. This will allow employees to focus on more advanced tasks that can bring increased value to their companies. I believe we can achieve this because of our comprehensive knowledge of business processes, which we have cultivated over time as an organisation, and the innovative solutions we offer.”
Rather than simply digitising information, the ultimate goal should be to develop digital transformation uniquely tailored to each organisation.
“How do we streamline business processes and create the best solutions? Depending on the company, true digital transformation involves consulting about the complete transformation and overhauling their existing systems.”
It is therefore vital that this process be specifically tailored to each company, as true transformation cannot be achieved by simply introducing existing technology and tools.
Although Hama has supported the digital transformation of corporations globally, he is particularly passionate about the Asia-Pacific region.
“One reason for my affinity to the Asia-Pacific region is that we have expanded our operations there. However, another major reason is that businesses in the Asia-Pacific area are able to flexibly implement digital transformation at an incredibly fast pace.”
The region’s rapid economic growth is likely why it is an excellent environment for rapid business evolution.
“It is not enough to simply replicate previous successes that have occurred elsewhere. Rather, it’s essential that we develop a deep understanding of the characteristics of a particular country or region and then assess which forms of digital transformation are best for individual companies within that area.”
Hama envisions a future where businesses and working styles evolve for the better across the region.
For over sixty years Hama has closely observed the business processes of companies and organisations across the Asia-Pacific region, providing valuable input to the region in his own unique way. He speaks passionately about how he wants to use his experiences and knowledge of information utilisation to contribute to the region’s growth.
Hama discusses in detail the conditions needed for true digital transformation to take place within an organisation.
"To truly elevate corporate success, it's imperative to move beyond merely connecting different information formats and systems. We must cultivate a fully integrated work environment where vital information is organised and shared efficiently, enhancing the communication speed among internal and external stakeholders. This approach enables businesses to progress swiftly and make informed decisions with agility."
It is also important that all members of an organisation handle information within the same environment and under the same conditions.
“Representing data visually can reveal significant insights that might otherwise go unnoticed. We believe this will lead to fresh insights and value creation never seen previously. Through information gathering, analysis, management, and optimal usage, we will maximise the value of this information, ultimately leading to greater corporate success.”
In order to do this, FUJIFILM Business Innovation provides cutting-edge solutions derived from exceptional expertise.
“Today we offer FUJIFILM IWpro—a service developed with co-creation in mind, which enables collaboration between the various people involved in a business. We also deliver IT Expert Services, a service developed around the concept of ‘comprehensive IT support’, which provides businesses with access to IT experts and continuous assistance in maintaining their IT environment. We believe that our enduring commitment to corporate transformation has enabled us to now offer these unique services.”
Below, we will explain these services in detail and describe their specific approaches.
Maximising information value through co-creation and comprehensive support
This cloud-based service offers a comprehensive all-in-one, fully integrated work environment. FUJIFILM IWpro enables seamless acquisition, utilisation, and storage of information, instantly enhancing workflow efficiency.
It automatically imports, extracts, and shares essential information from various sources, including email, fax, images, digital files, and physical documents. By consolidating existing systems into a single platform, it streamlines processes and promotes collaboration. This technology facilitates corporate digitisation and digital transformation, supporting rapid information sharing and decision-making within a unified work environment.
FUJIFILM IWpro is an innovative co-creation service that minimises the need for human intervention at every step, fostering a new kind of work environment where people are connected through shared information.
Building a secure IT infrastructure with the support of IT outsourcing.
IT Expert Services is a one-stop comprehensive IT support service designed specifically for businesses.
With IT Expert Services, businesses gain access to skilled IT professionals, both remote or on-site, providing timely assistance, minimising downtime and improving work efficiency.
With improved IT support management and visibility, organisations can focus on what matters the most-growing their business.
A New Era of Transformation
FUJIFILM Business Innovation utilising information and human resources for improved corporate success
Expressing his ultimate goal, Hama says, “By maximising the value of information, we will help organisations remain competitive and successful. That is our mission—and in this way, we will also contribute to improving the lives of those working within these organisations.”
It is no exaggeration to say that, in today’s world, failing to achieve digital transformation can eventually lead to calamity. Yet there is hope that those within the business world will embrace these changes, overcoming the challenges they present.
“Times are rapidly changing, and we must also evolve. Through digital transformation, I hope to give businesses the potential for results and growth unlike anything they have ever seen,” Hama says passionately.
In pursuit of this goal, we will study companies that have already embraced transformation, learning how it has affected their overall business development. These pioneers in digital transformation may offer invaluable insights into what the future holds.