Thursday, July 30, 2020
LANDER, a digitally native company
Though hard to believe, the first 20 years of the 21st century have gone by in a flash. The line in Carlos Gardel's tango song that ‘twenty years is nothing’ doesn’t ring true, because these last two decades of the new century have witnessed events that are changing the destiny of humanity forever.
The start of the millennium without the much-feared blackout, the attack on the twin towers in 2001, the collapse of the subprime mortgage market during the summer of 2007 in the USA that turned into a global crisis when Lehman Brothers failed in the early hours of September 15th 2008, historic oil prices, the COVID-19 pandemic currently bringing the world to a standstill... some of these events, and others, seem to be marking a before and after for the coming years and in the rhythm of changes that were already in store.
Over the last 20 years, the growth of the Internet along with new technologies and social networks have been radically changing the world. From work and everyday tasks through to how we spend our leisure time and our personal relationships, everything is different than it was up until the 20th century. We seem to be facing an irreversible process. The world is turning ever faster. Addressing the many challenges posed by technological progress has become an imperative for society in general, and for companies in particular.
However, the need to adapt has not been driven solely by digital advances but also by changes in people's behaviours and habits owing to issues such as climate change and one-off events that alter the course of history. Our response to all of this requires new models and structures in all areas of society, supported by new technologies.
The 21st century has brought in huge changes that have a direct impact on businesses. It's believed that 75% of European organisations will have gone digital by 2027 and will be like digitally native companies, and just as well. The course of events leaves ever-decreasing wiggle room for companies that haven’t yet made the transition from traditional to digital.
In this sense, digitally native companies (i.e. those set up during this century in the context of the digital era) can grow and adapt to new circumstances despite the current economic climate. This is because new technologies and digital resources are an intrinsic part of these companies’ strategies. Experts on the matter claim there are various keys to the success of a digitally native company. The two most fundamental are innovation and technology.
These companies constantly scrutinise their performance using data analysis and can innovate to optimise. Any business department can improve and innovate. Whether innovation is successful depends on whether a business understands its clients’ needs and can adapt their products to suit. Digitally native companies also use their own and third-party technologies to optimise their processes and reduce manual tasks – unscalable by definition – to a minimum.
These, and other characteristics, such as creative financing, cooperation and internationalisation, are all in a day’s work for these businesses.
When LANDER was established in 2002, it was already a digitally native company. Situations like those currently going on in the world are a reminder that being at the forefront of the digital sphere means being prepared for constant change, taking a long-term view, and having a clear vision of what clients will want in the future.
Now, more than ever, we need to develop a culture of innovation linked to a sustainable economy if we are to meet the social and environmental challenges currently facing the world.