Digital innovation is happening outside the boundaries of traditional companies. Though it is clear that digital is the future, the key question is why traditional companies cannot take advantage of it, said Sri Rajan, the chairman of Bain & Company India, during his keynote address at the Mint Digitalist Forum 2018, organised jointly by Mint and SAP India in Mumbai.

According to Rajan, customer demands are not understood deeply enough by companies and there is a false assumption that customers will continue to interact with them in a “traditional manner” as opposed to the “new digital channels of interaction”. He believes that organisations lack clarity in terms of the areas that need new strategies, and there is an absence of organisational engagement and governance when dealing with digital.