DIGITAL BUSINESS MODELS AND VALUE CREATION BRANISLAV VUJOVIĆ NEW FRONTIER GROUP / IEDC
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DIGITAL BUSINESS MODELS AND VALUE CREATION
BRANISLAV VUJOVIĆNEW FRONTIER GROUP / IEDC
MAIN ASSETS
HOW WE CREATE VALUE TODAY?
INNOVATION
© New Frontier Group
HUBLOT,CIRQUE DU
SOLEIL,NESPRESSO,
IKEA,
AIRLINES
UNIQUENESS
VALUE
FLOW
CAPITALGOODS
INFORMATION
INDUSTRIAL OR LINEAR BM
© New Frontier Group
MAIN ASSETS
© New Frontier Group
CAPITALSERVICES
INFORMATION
FLOW INDUSTRIAL OR LINEAR BM - SERVICES
© New Frontier Group
MAIN ASSETS
© New Frontier Group
INDUSTRIAL ECONOMY
COMPANY, PRODUCTS, SERVICES
CLIENTS
CLIENTS
© New Frontier Group
TEST BUSINESS MODELMEASURE SERVICES PRODUCTS
SCALE
SCOPE
SPEED
COST
NEW SEGMENTS/ MARKETS
© New Frontier Group
ortraining ornot fast or slow
high or very high
high cost or partners margin
DIGITALSTARTUP RULES VALUE
CUSTOMERSHARE DATA AUTOMATION
DIGITAL REVOLUTION – DIGITAL ECONOMY
MAIN ASSETS
HOW TO ADJUSTTO DIGITAL ECONOMY?
DIGITAL TRANSFORMATION
TECHNOLOGY &
INFORMATION SYSTEM
BUSINESS ACTIVITIES
PEOPLE
© New Frontier Group
FLOW - COMBINED BM – ADDING NEW CHANNELS
CAPITALGOODS
INFORMATION© New Frontier Group
FLOW - COMBINED BM - SERVICES
CAPITALSERVICES
INFORMATION© New Frontier Group
MAIN ASSETS
UNFORTUNATELY 70%-80%
ARE NOT ACHIEVING EXPECTED GOAL!
TEST BUSINESS MODELMEASURE SERVICES PRODUCTS
SCALE
SCOPE
SPEED
COST
NEW MARKETS/ SEGMENTS
© New Frontier Group
ortraining or
not fast or slow
high or very high
lower cost or Lower cost
MAIN ASSETS
WHAT IS DIFFERENT INDIGITAL ECONOMY?
DIGITALDIGITAL COMPANIES RULES VALUE
CUSTOMERSHARE DATA AUTOMATION
NEW BUSINESS MODEL FOR DIGITAL ECONOMY
NETWORK BM - PLATFORM
PLATFORM CLIENTS
SUPPLYCHAIN FLOW OF CAPITAL, GOODS
AND INFORMATION
SUPPLYCHAIN
© New Frontier Group
TEST BUSINESS MODELMEASURE SERVICES PRODUCTS
SCALE
SCOPE
SPEED
COST
NEW MARKETS/ SEGMENTS
© New Frontier Group
or
or
fast or fast
no or no
low or low
ecosystem
fast fast
MAIN ASSETS
HOW TO ADJUSTBUSINESS MODEL?
DIGITAL
DIGITALCOMPANIES
RULES VALUE
CUSTOMER
SHAREDATA
AUTOMATION
1 INNOVATE BUSINESS MODEL
DIGITAL PRODUCTS OR SERVICES
CUSTOMER
1 VALUE PROPOSITION
DATAOUTSIDE ININSIDE OUT
VALUE PRODUCTS1
IP TV
DATA
COMMUNICATION AND COLLABORATION
OUTSIDE ININSIDE OUT
CUSTOMER
OMNICHANNEL
2
COMMUNICATION AND COLLABORATION2
MOST DIGITAL TRANSFORMATIONS END HERE
DATAOUTSIDE ININSIDE OUT
CUSTOMER
AUTOMATION
3 AUTOMATION
AUTOMATION3
BANK
DATAOUTSIDE ININSIDE OUT
CUSTOMER
AUTOMATION
4
DIGITAL ECO-SYSTEM
DIGITAL ECO-SYSTEM
DIGITAL ECO-SYSTEM4
CREATING VALUE FOR COMPANY
REVENUE - COSTS
SUBSCRIPTIONREPETITIVE REVENUEPER USAGEPER CAPACITY
5
CREATING VALUE FOR COMPANY5
MAIN ASSETS
© New Frontier Group
DATACLIENTS
BUSINESS MODEL CANVAS
KEY ACTIVITIES
KEY RESOURCES
KEY PARTNERS
COST STRUCTURE
VALUE PROPOSITION
REVENUE STRUCTURE
CUSTOMER RELATIONSHIP
CHANNELS
CUSTOMER SEGMENTS
AUTOMATION
INDUSTRIAL
DIGITAL
VALUE IS SHIFTING
DIGITAL ECONOMYDIGITAL OR HYBRID BUSINESS MODEL
CLIENTS
DATA
DATA
DATA OUTSIDE IN
DATA OUTSIDE IN
DATA INSIDE OUT
© New Frontier Group
VALUE OF DATA AND AUTOMATION
PLATFORM
ALIBABAALIEXPRESSTAO BAO
WALLET
ALIPAY
SCORING
ZHIMA - SESAME
WEALTH
YUE BAO
LOANS
CREDIT PAY
INSURANCE
ANT INSURANCE
MAIN ASSETS
WHAT IS THE SOLUTION
FOR DIGITAL TRANSFORMATION?
FLOW - HYBRID BM
CAPITALSERVICES
INFORMATION© New Frontier Group
ECO SYSTEM
DIGITAL TRANSFORMATION
COMPANY, PRODUCTS, SERVICES
CLIENTS
DIGITAL OR HYBRID BUSINESS MODEL• CUSTOMER CENTRIC• PERSONAL• FAST• IMMEDIATE
FULFILMENT • EASY
• TRANSPARENT• OPEN• AUTOMATION • LOW COST• TRUST
CLIENTS
DATA
DATA
CLIENTS
DATA OUTSIDE IN
DATA OUTSIDE IN
DATA INSIDE OUT
TRANSFORM BASED ON INFORMATION
© New Frontier Group
THE BEST DT IN THE WORLD ‣ AMONG WORST – LOWEST CUSTOMER SATISFACTION SCORE IN SINGAPORE
‣ HOW TO IMPROVE - METRIC ELIMINATE WASTE – WASTED CUSTOMER TIME
‣ ELIMINATED 250 MILLION CUSTOMER HOURS PER YEAR
‣ ONE YEAR LATER – TOP CUSTOMER SATISFACTION SCORES IN SINGAPORE
‣ CONTINUED TO LEARN – NOW FROM CUSTOMERS - EXAMPLE LOST WALLET
‣ “DIGITAL IS ALL ABOUT THE BUSINESS MODEL, ENABLED BY EMERGING TECHNOLOGY AND DATA,” COBBAN SAYS. “GREAT USER EXPERIENCES BASED ON ECOSYSTEM PLAYS TO MAKE THE BANKING COMPONENT INVISIBLE.”
Superior returns from Digital segment
2017 profit and loss (S$bn) Total T D Digital is material
Customers (m) 6.0 3.5 2.5 42% of customers contribute 63% of income and 72% of profit before allowances
Income 5.2 1.9 3.3
Costs 2.3 1.1 1.2
Profit before allowances 2.9 0.8 2.1
Key indicators Digital is more valuable
Income per customer (S$’000) 0.9 0.6 1.3 2X income per customer
Cost-income ratio (%) 44 58 36 22pp lower CIR
Return on equity (%) 23 18 27 9pp higher ROE
2017 ROE adjusted for accelerated provisioning in SME; without adjustments, 2017 ROE is 20% overall, 15% for Traditional segment and 23% for Digital segment 14
COMPARE BUSINESS MODELMEASURE INDUSTRIAL COMBINED HYBRID DIGITAL
SCALE
SCOPE
SPEED
COST
VALUE
© New Frontier Group
TO CONCLUDE
STRATEGY &
BUSINESS MODEL
INFORMATION SYSTEM
BUSINESS ACTIVITIES
PEOPLE
© New Frontier Group
PERMANENT
COMPREHENSIVE
INNOVATION
© New Frontier Group
DBS,ANT FS,
FIRA,ESTONIA,CAINIAO
E-COMMERCE
UNIQUE
VALUE
BUSINESS MODEL CANVAS
KEY ACTIVITIES
KEY RESOURCES
KEY PARTNERS
COST STRUCTURE
VALUE PROPOSITION
REVENUE STRUCTURE
CUSTOMER RELATIONSHIP
CHANNELS
CUSTOMER SEGMENTS
THANK YOU
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