If you need an example, look no further than the taxi industry. Last week, I brought my car to a new mechanic to get some work done which required me to find a ride home. Did I call a taxi? No. I ordered an Uber. I could see the cost upfront and not only where my driver was, but also the type of car I’d be riding in and the reviews of my driver. I also used Uber when on vacation in L.A. and in Australia – all from the same app. I don’t have to wait for my credit card to be approved (or actually carry cash). The benefits of Uber are numerous, but by now, you are probably well aware of how Uber, Lyft, and other rideshare companies work, and their advantages.

The really interesting part of this particular trip was in discussing the business model with my driver, Miroslav. He was a former taxi driver for 20 years and explained why he decided to give up the orange and black for his own personal vehicle. “During the pandemic ridership is way down, so this makes more sense for me. I can work a few hours in the morning and then again during the evening rush. I can pick up my wife from work, and I’m not required to work all hours of the evening.” Miroslav explained that the city had limited taxi licenses and as a result, many people would renew them just to resell for thousands of dollars. Being a taxi owner was a business in its own right and the owners didn’t even have to drive. It reminded me of NYC where medallions reached a peak of over a million dollars. “I won’t go back to driving for a taxi company.” Concluded Miroslav. Now of course this is just an individual account, but the fact remains that disruption is real and its pace will only increase.

Hosted on-premise software is rapidly being deemed obsolete, replaced by cloud-based applications that are not only entering new markets but creating them.

Organizational structures have changed. Traditionally, companies were organized in an hierarchical manner with managers at upper levels overseeing employees who reported to them directly or indirectly depending on how much power they had within their departments. Most people physically worked together!

The good news in all this is digital transformation presents a significant opportunity. The digital economy is continuing to grow in size and contribute significantly to quality of life and GDP. It can help you reach customers in new ways and create opportunities that didn’t exist just a few years ago. But it also presents challenges, from cybersecurity risks to the need for more technical skills on your team.

The pace of digital disruption is only going to increase, so you might be wondering how you can harness the power of digital transformation to your advantage. The answer is simple - let us help! Our team at Carbon Edge are experts in navigating these complexities and providing the tools you need to make your business thrive in our ever-changing digital world. From cloud-based applications to organizational structure consultation, we have everything you need to get ahead of the competition.