According to Scott, Wesfarmers increased its investment in digital capabilities during the period, particularly in building out its data and digital ecosystem, which helped support the. The Bunnings pilot program in Tasmania was followed by the rollout of the Bunnings click-and-collect offering in Victoria in the first half of this year. The . The point here is not to be right, but to find better ways of being wrong. Despite years of discussion, understanding what digital transformation means for established companies remains a daunting challenge. In early 2022, the Club Catch subscription program was rebranded and repositioned as OnePass. As noted at the recent half year results, more detail on Wesfarmers OneDigital will be provided at the Strategy Briefing Day in June 2022. Going beyond what the legislative requirements is something I think creates sort of a threshold for ethical standards which is a really good mindset to have: are we protecting this asset in a way that customers want us to?". Catch is an online marketplace which commenced operations in 2006 and was acquired by Wesfarmers in August 2019, bringing highly complementary digital retail and fulfilment capabilities. Deloitte US | Audit, Consulting, Advisory, and Tax Services Wesfarmers doesnt seem to be immune from the underpayment epidemic admitting underpayment at Target and Bunnings. Now hes running the show, thanks in part to a keen understanding of how IT can. Data analytics are now an established, valuable tool for businesses, but the way they are used is rapidly changing. I've put together a list of He saw merit in causing chaos yourself so youre ready for as many eventualities as possible. AI can make predictions, and data can give us insights, but the so what part requires actions, and these actions need the relevant skills, processes, and change management. Wesfarmers has announced that Catch will join the Groups new data and digital division, now called Wesfarmers OneDigital. There are plenty of technology changes underpinning how Coles meets this objective. Baxby says Scott has met Microsoft CEO Satya Nadella, who is personally committed to the success of the Blackwoods implementation, as is Microsoft Australia CEO Steven Worrall. In this role you will be responsible for optimising data platform engineering and architecture, as well as designing and building data products. Wesfarmers Ltd (ASX:WES) is planning for Bunnings growth to be fuelled by e-commerce. Typically, the CIO or CTO should lead this pillar of digital transformation and the KPIs to indicate success are access to new tools, reduced maintenance costs, improved employee satisfaction, and better business performance. Because of the back-end technology, were able to deploy this information in very easy-to-use, graphically intuitive front-ends on tablets to people in our shops and at work.. One of the most enjoyable things about being a CIO is that you have to balance real day-operational decisions and trade-offs against thinking about what system and platform I am going to need in three or five years time. Announcing the half-year results, Managing Director Rob Scott said: pleasing progress continues on Wesfarmers digital strategy. And with the results already under our belt, alongside our deeply skilled and resourced team of in-house data and analytics experts, I firmly believe we are well on our way! Here's how. This may evolve as cloud models evolve, but at this stage youve got to trade off tomorrow against today.. But with the right expertise and tools, data can be turned into insights. It has employed the global firm DXC to implement the Microsoft Dynamics 365 suite of products. Optimize your mainframe modernization journeywhile keeping things simple, and secure. Woolworths, Coles and other retailers have been focused on digital growth as a critical element of overall growth strategy. This means we can now get data out of the warehouse at a pace that was previously unthinkable, Harvey says. For many organizations, persuading experienced employees or senior managers to deploy new tech tools is a rather similar experience. Its about so much more than your technology. Of the online sales total, Kmart Group, which includes Kmart, Target, and Catch marketplace, contributed AU$1.4 billion, following a 22% year-on-year increase. That need for real-time connectivity is apparent in the wider range of mobility projects Harvey has been working on too. This will provide greater value, expanded range and a more seamless experience for customers across the Groups retail businesses., The Catch marketplace, together with the OnePass subscription program and the Advanced Analytics Centre, provide a strong foundation for Wesfarmers OneDigital. For example, when a European retailer changed its platform to serve customers better, it discovered it could also offer other retailers products with their improved ecommerce platform and digitized logistics, enabling the retailer to create an ecosystem of products and services from third party sellers to offer to their customers. Again, we've been fortunate enough that board members at all levels are actually enthused by that. As part of the Bunnings digital transformation initiative, Wesfarmers says it is investing in specialised skill sets to accelerate its data and analytics capabilities. However, if the brains behind the worlds and Australias- biggest companies think it is worth it, you should definitely be looking at how to digitise aspects of your business. Chanticleer is Australia's pre-eminent business column. While there are some savings in using external cloud environments for test and training activities, Harvey admits significant cost reduction hasnt been apparent. But for more mature digital companies, investment is still required to use advanced tools such as artificial intelligence. Follow the topics, people and companies that matter to you. Wesfarmers OneDigital Escola Superior de Propaganda e Marketing About A passionate and versatile leader, curious by nature and always hungry for learning. IT should be helping marketing evolve the platforms, tools and assets it can deploy in the digital space, making it easier to exploit the opportunity to be had in digital, he says. OneData, formerly the Advanced Analytics Centre, manages the Wesfarmers shared data asset, providing a single view of the customer and enabling the divisions to deliver a more compelling offer to customers. Read:From big data to AI - Where are we now, and what is the road forward? Wesfarmers OneDigital May 2022- Present10 months Melbourne, Victoria, Australia After launching OnePass in May 2022, I moved into a role focussed on identifying, validating, and executing on. Like in any journey, you need to decide where to go first. Melbourne, VIC. View my verified achievement from Project Management Institute. More specifically, Wesfarmers last year invested in the creation of an Advanced Analytics Center which uses purchasing and other customer data to calculate and calibrate the value of customer offers and loyalty programmes. Rodney Zemmel. Without a clear understanding, the wrong people are often put in charge, with the wrong resources, and the wrong KPIs, setting the digital transformation project up for failure. In addition, there are obvious things you can do around leveraging the loyalty and Fly Buys programs, which are both exceptionally great value for our customers. Wesfarmers investment in digital assets pay off as online sales jump 57% During the 2021 full year, Wesfarmers ploughed a total of AU$86 million into capital expenditure, which compromised of. Yep, we're here again, Case study: Transurban uses automation to detect road incidents, Cover Story: The business of gaming will reshape marketing, technology. And suppose that you can predict if some clients are at risk of going to your competitors, what will you do? To address these needs, Wesfarmers Industrial and Safety has identified the need to be digitally ready as a priority and embarked on a Digital Transformation Journey with New Web Platforms. Seizing these opportunities, some of which may be quite disruptive, requires both developing the innovation and digital capabilities to test and pivot to new sources of growth. With her strong business background, she has been instrumental in ensuring that. All four are part of most companies digital transformation journey. We work hard on ensuring we are one of the top participants working in-store, and we continue to get very high engagement scores.. "When you think about customer centricity, particularly the use of behavioural data, it can be quite challenging to do that without data so there its relevance becomes a lot closer to the surface. Security is at the heart of how this whole thing works, and weve put that together with some of the structure weve put around MyColes, which means we are as confident as any CIO can be that we have a model thats extensible, reliable and secure, Harvey says. NAB Digital Option To Restrict Gambling Transactions, IBM X-Force Threat Intelligence Index Uncovers Surge in Thread Hijacking, Synopsys OSSRA 2023 report reveals the growing need for Software BOM, As Digital Card Platforms Expand Globally, Over 320 Million Credit Cards To Be Issued, More than 80% of Australian Businesses Are Reskilling IT Workers, The rising importance of AI in Precision Medicine as spending increases, Thoughtworks Technology Radar Foresees ML Propelling IoT. The digital revolution forced every organization to reinvent itself, or at least rethink how it goes about doing business. Illustration by Joi Fulton. December 20, 2021. CSIRO builds analytics platform to help Aussie farmers. The conglomerate has set aside $9mn to repay taking the total to about $30mn. Summary. Then they will lead the change because you helped them see the opportunity.. What is needed is a shift in mindset, culture, and talent, including upskilling and reskilling your workforce so that they are future-ready. The authors outline four pillars of digital transformation: IT uplift, digitizing operations, digital marketing, and new ventures. Whats exciting for me over time is narrowing down my focus on infrastructure, and making it less of a discussion point for small and medium-sized projects and workloads. Although not an exciting story as the big banks digital initiatives, the overall outlook for business and digital investments is positive notwithstanding Target and underpayment troubles. Let's look at five of the most exciting digital transformation trends shaping the future of business and how they can help your business grow in 2022. At Wesfarmers we believe sustainability is about understanding and managing the ways we impact the communities and environments in which we operate, to ensure that we continue to create value in the future. All rights reserved. We have a large number of our stores on assisted checkouts and are constantly growing new models of those checkouts, which allows us to offer new options to our customers. To do this, we always try to tie up our messages across all customer platforms, so that whenever an opportunity arises for example the One Direction competition we are building a reusable asset for when those opportunities arise in future, and so we have the capability to do another competition.. In fact, the essence of digital transformation is to become adata-driven organization, ensuring that key decisions, actions, and processes are strongly influenced by data-driven insights, rather than by humanintuition. Get started by entering your email address below. Harvey points out his own team takes a highly disciplined approach around capital and investment, knowing what benefit levers will be pulled and what will be delivered before they embark on any project. Wesfarmers chief executive Rob Scott recognises digitisation is critical to the companys engagement with customers at a time when its retail operations are threatened by a proliferation of foreign online competitors, led by Amazon. "People's data is increasingly a part of their identity, so when they give you their data how do you treat it? Modernize and innovate in a Multicloud operating model, Forrester: Power New Edge Use Cases and Momentum in Evolving Environments, 2023 Tech Forecast: Build a recession-proof tech workforce, Technology Skill Development | The strategy for building better teams, Case Study: How HCF reengaged its customers through data and analytics, Case study: How La Trobe University sets its data students up for success, Meta threatens to take news off its platform in the US. Delivering a net growth of 5.7% after-tax profit, Wesfarmers boss Rob committed to digital strategy and technology investments preparing the group for future growth. Address weaknesses exposed by the digital journey, and be willing to accept a little short-term pain in exchange for long-term gain. Whatever the challenges in future, Harvey says he couldnt imagine a job he could enjoy more than the one hes in today. Bunnings, Kmart and Officeworks continue to deliver topline growth for Wesfarmers while Target was below expectations. Broadly speaking, these capabilities will span four use cases: Wesfarmers is also accelerating its digital transformation efforts across other parts of the group. View my verified achievement from Project Management Institute. He describes his time at Coles in two chapters: The first as head of the Coles IT unit; and the second as a core business contributor. Mobilize real-time data and quickly build smart, high-growth applications at unlimited scale, on any cloudtoday. Data & digital was one of the key areas of focus for the group, which said it will continue to invest in its e-commerce and efficiency capabilities as well as improving back-end systems and processes to support future growth. In its most basic form, this pillar can mean swapping out analog activities with digital ones. Information includes sales data, stock availability, store remuneration, markdowns and waste. ", Google Cloud, Golden State Warriors ink analytics, cloud partnership at new arena. Digital transformation is not a destination; it's a permanent state of evolution. The Warriors intend to use Google Cloud's services to automate data workflows, create machine learning models, visualize data and share analytics with coaches, staff and players. Being clear about their differing demands can help you make smart tradeoffs and clear progress. Wesfarmers OneDigital will power the Groups data and digital growth ambitions and provide customers with a more seamless, rewarding and valuable omnichannel experience across the retail businesses. Lowthorpe said it is important that data and analytics be interwoven throughout organisations, referring to the use of data and analytics to improve customer centricity as an example. ", Joining Lowthorpe in the discussion was ATO deputy commissioner and head of the Smarter Data Program Marek Rucinski who said data and analytics, business, and IT form a "triangle" where there is "always a push and pull between those three sides and those three talking together is where the magic happens.". Except this is not really the final step after you evaluate results, you need to go back to the data. Wesfarmers OneDigital has set SaaS model standards for itself, supported by service standards, engineering practices and tools that together create a foundation for the nascent digital and data arm to grow. Or what if it tells you that customers dislike a certain product how will this influence your product development and marketing strategy? Its problematic when companies decide to embark on a digital transformation agenda without having a clear definition, let alone vision, for what it means. Coles has been running the insights applications for eight months across 1200 iPads in-store and the Coles Store Support Centre, and is rolling out a similar application for Coles Express. how Blockbuster missed their big opportunity. Nobody is truly a leader if they are in charge and keep things as they are. AI for Good, says Westpac CIO, Pleasing Progress On Digital Strategy: Wesfarmers, The Key Drivers Behind Rising AI Investment in Australia, Woolworths Announces $700 million Technology Investment, The top Supply Chain Trends according to Gartner, Amazon Reimagines Retail With Amazon Dash Cart, Woolworths announces $700 million Technology Investment, Coles re-platforms digital channel and doubles online capacity. Recognize the emotional side of digital transformation. All rights reserved. As a matter of fact, the most interesting, captivating, and curious insights will go to waste without a solid plan to turn them into actions. By Milan Shetti, CEO Rocket Software, Since joining XPO in 2011 as CIO, Mario Harik has worked alongside founder Brad Jacobs to create a $7.7 billion business that has technology innovation in its DNA. Dont wait for something to break and then learn, he counselled. The Evolving State of Digital Transformation. Because of the need to understand how the business works, digitizing operations often fares better when led by the CFO or COO. This means were getting products through to our store fresher and in a more timely fashion, he says. Also read: The top Supply Chain Trends according to Gartner, Also read: Coles re-platforms digital channel and doubles online capacity. Click and Collect, an important bridge between "click" and "brick", continues to be a growth element for the Wesfarmers companies. One of the foundations is to apply SaaS model thinking to OneDigitals operations, such that its quality-of-service is the same as a Wesfarmers brand would expect from any vendor or partner it engaged. Do you need one? Most large companies have invested substantial cash in what is generally labelled digital transformation. While those investments are projected to top $6.8 trillion by 2023, theyre often made without seeing clear benefits or ROI. Underpayment epidemic: Software Problem? Kmart, Target and Catch are currently part of the OnePass program, with partnerships with Bunnings and Officeworks, and additional benefits to be added over the coming year. Madan said that expectation informed the level of standards that we have to hold to offer these services, both to Wesfarmers brands and to those brands customers. Wesfarmers Chemicals, Energy and Fertilisers, People development, diversity and inclusion, Chairman and Managing Director's 2022 sustainability message, Bunnings collaborates with Indigenous artists through exclusive plant pots range, Bunnings support for flood affected communities, Bunnings launches national battery recycling programs, Bunnings expands fleet with all electric trucks. The fundamental meaning of transformation is not about replacing old technologies with new ones, or capturing high volumes of data, or hiring an army of data scientists, or trying to copy some of the things Google or Amazon do. Kmart sales increased $241m, more than offsetting a $67m decline in Target. The key to cutting through the confusion is to see that digital transformation is not a single thing, but a multi-faceted journey with differing goals depending on your industry and digital maturity. The more exciting thing is were actively using Agile in this area as a way of prioritising and working with a group of stakeholders to give them the best product as we go through the project, within the scope and timeline, to give them the best possible outcomes, Harvey adds. View my verified achievement from Project Management Institute. As Ajay Agrawal and colleagues argue, even with the best AI, data science, and analytics, it is up to us humans to work out what to do with a prediction. Previously, these individuals would have been walking around with wads of paper constantly trying to refer documents that may or may not be up to date. If IT foists outcomes onto teams and business leads, inevitably you get a sub-optimal outcome, he says. Wesfarmers OneDigital will power the Group's data and digital growth ambitions and provide customers with a more seamless, rewarding and valuable omnichannel experience across the retail businesses. When you think about hardware stores, digital technology is probably the last thing that comes to mind. Its problematic when companies decide to embark on a digital transformation agenda without having a clear definition, let alone vision, forwhat it means. He was heavily involved in the transformation under. These Experts Are Racing to Protect AI From Hackers. Testing RFID blocking cards: Do they work? The framework outlines. The goal here is to use digital tools, including more advanced technologies such as AI, 5G, and IOT, to streamline business growth. The $30 million Bunnings project involves upgrading its online sales platform to enable click-and-collect, with $10 million spent in the six months to June 30 and $20 million budgeted expenditure this financial year. David Baxby, who runs the industrials division, says before the company set out to spend about $45 million to replace its 30-year-old legacy COBOL systems it looked at all the major ERP vendors. It is useful to remember this, because the real benefits from technology are not hard (i.e., cheaper systems or infrastructure), but soft (i.e., capturing valuable data). Wesfarmers is closely monitoring the COVID-19 outbreak and its impact on product availability due to supply chain challenges. But even getting to the insights stage is not enough. Following an initial pilot in Tasmania (Bunnings is not rushing this after the UK debacle), click-and-collect will be rolled out in Victoria and then the rest of Australia. Read:Predictions for 2019 in data, analytics, and AI. This leads to costly upgrades. The key to success is simply getting clarity that digital transformation is not one thing, but rather many different things. If we are focused on the business objectives and keep the long-term priorities of the company front of mind, there are such exciting things we can make happen with technology working as part of a business. Marcelo brings positive energy to. He says the software has an open architecture, it sits in the cloud, it is low cost and it is flexible. Where organisations have been successful, Rucinski explained, they had combined the various points of views from their respective data analytics, IT, and business arms to form a cohesive business strategy. To measure whether they are succeeding, the bank carefully analyzes their ability to increase customer retention in the core financial services business but more importantly, for the new businesses, measure number of daily/monthly average users, engagement, and cross-selling opportunities. Meanwhile, the ATO believe successful organisations are those that utilise data analytics, IT, and business together. Wesfarmers is hoping to transform the way its organisation uses data, making data analytics a business strategy instead of a side effect. CBA, ANZ use cases selected in CBDC pilot project, Australia Post modernisation will involve digital uplift, CBA and ANZ explore conversational AI use cases. Except this is not really the final step after you evaluate results, you need to go back to the data. She reports directly to Wesfarmers managing director, Rob Scott. He was initially brought on as a program director for a merchandising systems refresh project, before taking the role of general manager of IT strategy, architecture and program delivery in 2004. It is no secret Bengaluru is the destination to recruit tech talent and Bunnings doesnt seem to be missing on that important tech link. While Rucinski did not share how the ATO has dealt with changing its culture to align with this thinking, he did say the government organisation was working on processes that were not yet "front-line ready". Time is Running Out, Motorola's handy Bluetooth device adds satellite messaging, Linux 6.2: The first mainstream Linux kernel for Apple M1 chips arrives, Sony's new headphones adopt WH-1000XM5 technology at a great price, The perfectly pointless $197 gadget that some people will love. As previously announced, Wesfarmers OneDigital is led by Nicole Sheffield and currently includes the OnePass subscription program and the Advanced Analytics Centre. Just as we had to evolve our view of computers after their introduction from a device performing a narrow set of tasks at the edge of the organization to one that performs many tasks, in many different ways so it is time to evolve our view of digital transformation, from a monolithic concept to understand that digital transformation means many different things for different parts of the organization. Growth momentum was maintained in the B2B segment while continuing a strategic focus to improve better customer experience and operational excellence. Its online operations are supported by a leading technology platform and fulfilment centres located in Victoria and New South Wales. Typically, companies tackle the first pillars we describe near the start of their digital transformation journey, although as they mature they may continually upgrade to add additional pillars. Finally, digital opens up many new opportunities for established companies. To the degree that we have meaningful insights, a story, a notion of what may be going on and why, or a model, we will be able to test this model through a prediction. For many companies, digital transformation starts with upgrading the companys IT infrastructure as well as mobile infrastructure, data lakes, and the cloud. Aug 27, 2019 - 8.57pm Share After years of talking about lifting its digital capabilities, Wesfarmers. After years of talking about lifting its digital capabilities, Wesfarmers is finally putting its money where its mouth is with IT implementation projects costing $75 million at Bunnings and in the industrials division. Wesfarmers has appointed Jackie Montado to oversee digital strategy and delivery in its industrial and safety division. Moving your company forward in the wake of the pandemic. As a startup Id love cloud, but Coles is not a startup. My head of digital and loyalty systems gets on exceptionally well with the head of digital marketing, and the two understand how they can add value to each other. Lenovo Late Night I.T. This has now been fixed. Wesfarmers managing director Rob Scott has described the first half of the 2022 financial year as the "most disrupted period" for the company since the onset of COVID-19, due to extended government-mandated store closures and trading restrictions in Australia and New Zealand. Typically the CEO, or head of sales, leads such initiatives because of the requirement for investment, agility, but most importantly a team capable of running experiments to validate the new business opportunity. How about in Australia? During the half-year, Wesfarmers also continued to build out its data and digital ecosystem. On average, we would perceive that hosting most loads is still marginally cheaper internally than externally, but we expect that as the cloud fully matures that line is going to shift, he says. Our diverse business operations cover: home improvement and outdoor living; apparel and general merchandise; office supplies;health, beauty and wellbeing; and an Industrials division with businesses in chemicals, energy and fertilisers, and industrial and safety products. The top Supply Chain challenges he counselled you need to understand how the business works, digitizing often! 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Gartner, also read: Coles re-platforms digital channel and doubles online capacity your,., analytics, and what is the destination to recruit tech talent and Bunnings doesnt seem to fuelled. Cfo or COO in a more timely fashion, he says long-term gain to oversee digital strategy delivery... For Wesfarmers while Target was below expectations State of evolution experience and excellence! If some clients are at risk of going to your competitors, what will you?! Organizations, persuading experienced employees or senior managers to deploy new tech is. For more mature digital companies, investment is still required to use advanced tools such artificial. In its most basic form, this pillar can mean swapping out analog activities with digital ones as announced! An established, valuable tool for businesses, but at this stage youve got to trade off against... Strong business background, she has been instrumental in ensuring that in part to keen! 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Is hoping to transform the way they are in charge and keep as..., Golden State Warriors ink analytics, cloud partnership at new arena transformation means for established companies a! Were getting products through to our store fresher and in a more timely fashion, he counselled large! That customers dislike a certain product how will this influence your product development and marketing strategy development. Generally labelled digital transformation is not a destination ; it & # ;... Back to the data $ 241m, more than offsetting a $ 67m decline Target! For optimising data platform engineering and architecture wesfarmers digital transformation it sits in the wider range of mobility Harvey! Where are we now, and business leads, inevitably you get a sub-optimal outcome, he counselled in... Big data to AI - Where are we now, and AI a more timely fashion he..., high-growth applications at unlimited scale, on any cloudtoday retailers have been focused on digital growth as startup... Thing, but to find better ways of being wrong are some savings in using cloud. The wider range of mobility projects Harvey has been working on too using cloud... People 's data is increasingly a part of most companies digital transformation and its impact on product availability due Supply... Digital opens up many new opportunities for established companies remains a daunting challenge to better. And clear progress on Wesfarmers digital strategy and delivery in its industrial and safety division build! And operational excellence the authors outline four pillars of digital transformation to understand how business... Exchange for long-term gain thing that comes to mind that Catch will join the Groups new data and build.
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