REPORT: OPENTEXT INNOVATION DAY STOCKHOLM
Without a doubt, the fourth industrial or ’digital’ revolution is here, and it’s dramatically impacting how we all manage information. Swedwise joined this year’s OpenText Innovation Tour in Stockholm to find how industries are affected by the speed and scale of this revolution, and what they can do to unlock the opportunities it holds.
For those of you new to the concept the OpenText Innovation Tour is a unique series of events, which OpenText hosts in cities around the globe. Each event comprises of several keynote sessions followed by series of detailed breakout sessions in the afternoon. This year’s event was hosted at the Hilton, which is situated in the hip Södermalm district of Stockholm.
Intelligence of Things
OpenText’s CEO Mark Barrenechea kicked-off proceedings with his keynote entitled ‘The Intelligence of Things’, which explained how OpenText’s EIM solutions help leverage digital business information from ‘engagement to insight’ across the extended enterprise.
Mark also discussed OpenText’s move into the area of cognitive based analytics to help organizations unlock the true value of their enterprise information. Mark’s blog on his new book “The Golden age of Innovation” is a must-read. 2017 is on course to be an exciting year for OpenText and its customers.
The Intelligence of the Rest of Us
After some refreshing coffee and expo networking, it was back to the main auditorium to see Fredrik Härén’s “The Intelligence of the Rest of Us”. Fredrik is an author and keynote speaker on business creativity, change and global business. This inspiring presentation challenged the audience to upgrade their mindset as regularly as they upgrade their IT systems. Our static, fixed mindset and the language we use to refer to the world around us often limits our potential with new technology and tools. One example is the rise and fall of early mobile phone companies. Ericsson and Nokia looked at the mobile phone and thought, ‘how much computing power can we put in a phone?’ It was the wrong question. Apple said, ‘how much of a phone can we put into a mini computer?’ Just having simple awareness of the way you think, the language you use and the reference we draw from can help us look at the problems and desired outcomes around us with fresh eyes.
GDPR – headache or an opportunity?
The last keynote I checked out was on the new General Data Protection Regulation, hosted by Hans Werner, CEO for Radar Ecosystem Specialists AB. Also known as GDPR, this new law will take effect in the EU 25 May 2018. Citizens will now have the right to “be forgotten” and there will be tighter restrictions on what personal data companies and government agencies may store, as well as the requirement to have a data controller.
With fewer than 14 months to go until implementation, many businesses remain unprepared. More than half of organisations not yet started any preparation to meet even the minimum required standards, according to recent research by information management company Veritas. And not complying with GDPR can be expensive. It can cost up to four per cent of turnover or 20 million Euros, which is the highest penalty.
However, the new regulations should also help establish risk awareness and data protection in all processes. This means both public and private organisations responsible for upholding GDPR have an opportunity to consider data privacy compliance more strategically and holistically, since organizations will really struggle if they hold information in separate silos. Organizations will need to introduce Privacy-by-Design and Data Protection-by-Design as core foundations of their infrastructure. This in turn aids the digital transformation of their business.
After lunch, it was time for us to head towards the breakout sessions. This year they were separated in the themes Enterprise Apps, Process Experience Business Network and Analytics. I choose to stay with the Experience sessions for the obvious reason of finding out the new OpenText CEM strategy and roadmap.
CCE and Exstream Release 16.2
For Swedwise and our OpenText customers, we see the gradual rebranding/moving of StreamServe to Communications Center Enterprise. StreamServe/ OpenText CCE and Exstream continues to move more and more towards a common CCM platform, using the strengths of each solution. This includes combing Extream’s high- throughput engine and interactive editing with Streamserve’s event driven transactional processing model and ecosystem integration strengths. The next two sessions dealt on the importance of adding video and interactivity to customer communications to capture the attention of millennial and baby boomers alike. The storage, accessibility and usage of digital assets will become more important. According to OpenText, 74% of B2B marketers report higher conversion rates from video than any other type of content. In other words, modern digital experiences and CCM are becoming multi-layered, not only as highly personalised documents with rich media, but also with well-crafted UX interaction and Omni-channel engagement. The added optimization of analytics seeks to further improve customer experiences to make future ones more competitive at every customer touch-point.
Design for Digital 5 – Best Practices
I ended the afternoon finding out latest developments to OpenText’s CCM releases, and the roadmap strategy which aims to extend the reach of your digital assets to customer communications generated with the CCM design environment. The result will be an event driven real-time communications platform – Omni-channel instead of multichannel engagement – with integrated CCM anywhere or with external ERP and CRM. Rather go into detail here, to wrap things up were 5 best practices to bear in mind when designing for digital.
Cocktails and Afterthoughts
As the day draw to a close in it was time to take a drink and do some mingling, at the cocktail party, which was sponsored by Swedwise.
With deejay Thomas Rusiack of Teddybears Stockholm fame supplying the music, it was a good time to reflect on the day’s events, and realise that going digital isn’t just about surviving. It’s actually all about grabbing the new opportunities and thriving. The Golden Age of Innovation has begun!