Publication typeConference Proceeding
BookLecture Notes in Business Information Processing
MetadataShow full item record
AbstractMany organizations have a long history with the use of ERP. However, organizations are increasingly turning to digital capabilities to transform operational processes and business models. Extant literature has increased our understanding of ERP, but we lack comprehensive insights into the evolving nature of ERP in the context of digital transformation. Through a review of articles from the AIS Basket of Eight IT journals, we identified digital capabilities associated with contemporary ERP across five categories. The identified capabilities foreground the evolving nature of ERP, resulting in the introduction of a definition for digital ERP (D-ERP) and a call for research studying the co-evolution of D-ERP and digital transformation.
KeywordERP, Enterprise Resource Planning, Digital ERP, Digital Technologies, Digital Capabilities, Digital Transformation
Knowledge Domain/IndustryOperations & Supply Chain Management
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The DNA of a digital financial leader. How to develop a digital transformation strategy for the finance function and what are the main characteristics of a digital finance leaderStouthuysen, Kristof; Decorte, Thomas; Heyvaert, Carl-Erik (2022)With the continuous development and adoption of new technologies and trends – such as cloud computing, robotics, blockchain and Artificial Intelligence (AI) – and the availability of vast amounts of data, people’s roles in the finance function are undeniably changing. Furthermore, the COVID-19 pandemic has served as a wake-up call for many finance leaders to start investing in the digitalisation of their department. Indeed, today’s finance leaders have the opportunity to act as a catalyst for reshaping the business strategy and deploying AI technologies to digitally revolutionise the finance function and enhance their value creation and value protection role. The digital journey, however, encompasses more than the mere adoption of several technologies: it involves many challenges that go beyond the obvious technical aspects, such as organisational and cultural difficulties. As the finance function must not lag behind in the digital era, a crucial task awaits finance leaders: they must reinvent themselves and their department in order to successfully embark on this digitalisation journey. We believe our synthesis of how to formulate a digital transformation strategy, along with the 9 must-have characteristics of a true digital finance leader, can equip these leaders to successfully tackle the upcoming challenges of digitalisation! Our Centre for Financial Leadership and Digital Transformation has the ambition to reach out to all finance leaders to help them embark on a successful digital transformation journey and become true digital finance leaders. In our first workshop, the Centre tackled the question: ‘What should the finance leader of the future look like?’ The insights of that workshop were gathered and analysed and resulted in this white paper. A must-read for each finance leader whose aim is to inspire, support, and empower his/her department to embrace the digitalisation of the finance function.
Digital transformation know how. Connecting digital transformation, agility and leadershipViaene, Stijn (2020)In recent years, digital development has accelerated and digital turbulence is the new normal. So, it’s time for a synthesis, time to bring stability to that turbulence: What have we learned? What do we know? What should we no longer have doubts about? Whether you’re a CEO or a dedicated worker, you have an important role to play in your organisation’s digital transformation. But it’s hard when you don’t have a common frame of reference or common language. What’s the big picture? How do things align? How can you contribute? This book offers you a practical perspective on six critical elements of successful digital transformation design: Strategy for the digital age: Digital transformation invests in strengthening the core and growing the more . Customer experience design: Great customer experience emerges from the way you solve your customers’ problems . Data and analytics: Giving data hands and feet is crucial to the success of a digital transformation. Digital partnership strategies: Combinatorial innovation drives digital partnerships, but they still must be earned. Digital transformation leadership: Technology skills are an organisation’s ticket to ride, agility its ticket to heaven . Scaling agility: The paradox involved in scaling agility is introducing fast flexibility and stability at the same time. gility: The paradox involved in scaling agility is introducing fast flexibility and stability at the same time.
Building an acquisition scanner for a growing digital marketing holding case: applied to three digital marketing agencies of the holdingBohez, Anais; Liénart, Victoria (2019)In order to complete our Masters in Financial Management at the Vlerick Business School, an In-Company Project had to be conducted. We were looking for a project that would include a mix of strategy and finance, since this mostly fits both of our interests. After contacting Mr. Cedric Donck, who taught us the ‘Entrepreneurship’ course during the academic year, to verify whether he had such an opportunity for us, we were very pleased with his positive answer. We joined the Virtuology Holding for two months and had the opportunity to really be a part of the daily life at the office. We got submerged in the entrepreneurial atmosphere, joined the Digital Week they organized and finally presented our findings at the managers’ days. In the general part of this paper, the Virtuology International Holding, its subsidiaries, the group’s operations and its philosophy are revealed. Furthermore, a deeper dive into an acquisition process is provided. This view is given from two different angles, a theoretical angle, based on insights from the M&A course from Professor Hans Buysse, and a more practical and hands-on angle, with insights gained through an interview with Mr. Donck (can be found in Appendix 15). The latter’s main conclusion on engaging in an acquisition is: “we don’t negotiate weddings with the mother in law, we negotiate weddings with the bride directly”, to show that the negotiations and deals are done without a third party but with the entrepreneur directly. The following parts of the paper are focused on three different companies of the holding, namely Blue2purple, Etail and Programmads. The goal our project was to provide the group with new insights, research and potential developments for the future on each of those companies1. The rest of the paper therefore is divided into three different parts. In the first part, research was conducted on the French advertising market, with a focus on the general structure of the market and a focus on the advertising trends. From a general perspective, due to the increasing digitalization, the advertising industry has known an important shift in its structure. Going from a traditional channel to a digital channel has led to the introduction of new technological players but also the major breakthrough of data, mobile and social media. Following this, three important challenges have 1 All of our research and findings will be shared with the company for them to look into appeared within the industry; new players such a giants of the web or consulting firms keep on entering the market, there is an increase in advertisers’ budget fragmentation as advertisers tend to favor in-house advertising and finally, there is a constant downward pressure on the prices as a result of an increasing competitive pressure. But agencies aren’t standing still in respond to these challenges and are taking actions. Moving on to the advertising, trends three main lessons have emerged from the analysis. Firstly, the French advertising and the French digital advertising industry have a respective value of €11 billion and €6.5 billion. These values position the country, in both industries, at the third position at a European level, after the UK and Germany. Both industries are characterized as having a lot of actors, but with very concentrated activities among the big players and from a regional perspective, among five regions. Secondly, advertising expenses, share wise, are currently more important in the traditional media but digital media knows the largest growth, of about 16% in 2018. The growth in digital media can be explained by a major growth in two channels: social media and video advertising. Finally, along with digital advertising comes programmatic advertising. Expenses in programmatic advertising (digital display) have significantly increased over the past years and are expected to continue doing so with double digit growth. In order to grow and expand into France, Blue2purple (B2P) is looking for a target to acquire in Paris, since this location would facilitate the creation of a French Virtuology hub. Therefore, an extensive research was conducted in order to find a company that would be of great fit for B2P. The goal of was to find a company that was young, fast-growing and consequently had some growth pains. After a long list of 114 companies, a short list of 34, we were able to downsize those companies into a sweet spot list of 7, and a final top three. This final top three, namely Celsius, KLH Agency and Woptimo, are companies that meet the requirements and might be willing to join the Virtuology group. To sum up, by being acquired, the potential target would benefit from the knowledge of B2P and the support of the holding in order to further grow. Finally, white spots, service lines that are currently offered by companies in France but not by B2P yet, were identified: social listening, crisis management and fraud protection. Those might be interesting opportunities for B2P to develop in the future in order to be able to serve their clients on even more aspects of their advertising journey. In the second part, the e-commerce market in France and Belgium is investigated in order to grasp the market Etail is operating in. The French e-commerce market is currently valued at €93 billion and the French are expected to spend over €100 billion this year, a growth of 13% compared to 2018. Online shopping is becoming a second nature in France, whereby the amount of transactions increases up to 40 transactions annually, but the value of the shopping basket decreased to €61 per ‘shopping trip’ in 2018. However, the total annual expense per online shopper increases year on year and is estimated to reach €2,700 in 2019. Additionally, the French are very fond of loyalty programs, 31% is subscribed in such a program, and m-commerce (e-commerce through a mobile device), since 25% of e-commerce revenue is generated through such a device. The three biggest e-tailers are Amazon, Cdiscount and Vente-privée. By researching the Belgian market, we could get a clear view on the opportunities in Belgium for Etail. The Belgian e-commerce market is currently valued at €11.8 billion and an average consumer shopped 12 times online in 2018. The three biggest e-tailers are Bol.com, Cool Blue and Amazon (when adding up Amazon.fr, -.com and -.be). Additionally, there are no Belgian players represented in the top ten of etailers. Amazon, even without an Amazon.be website, is gaining ground in Belgium, with an average of 20.000 app downloads monthly. This shows the potential for Etail since getting on Amazon Vendor Central and gaining brand awareness are aspects clients will need their support for. Additionally, Vente-exclusive, the biggest flash deal player in Belgium, is on the tenth position on the aforementioned list, already has a vast customer base of 3.6 million users and revenues grew 17% in 2018 compared to the previous year. This is also an advantage for Etail since this also means more client opportunities will arise in the future. By additionally looking at the current competitive landscape in Belgium, the current void, a company supporting their clients in launching on the Vendor Central side of Amazon, became even more clear. Finally, future opportunities might arise from Chinese players such as Alibaba and JD.com, who both already have a foothold in the European market. Unlike the previous parts, the final part doesn’t hold an extensive analysis of Programmads’ market. The ad-tech industry, and more specifically the ad-tech resellers, find themselves in a very niche market which makes it harder to find information. However, we have been able to identify a certain growing trend within the ad-tech industry fueled by the digitalization trend. In order to gain insights on what kind of certificates Programmads’ competitors hold, research was conducted through the Google Marketing Platform and competitors from the Benelux and France were analyzed. As a result, it turned out that the Google certificates are still the most detained certificates within the industry followed by Bing Ads (Microsoft Advertising), Adobe, Tealium and Oracle. Knowing this, Programmads can either use this information to expand their product offering and gain expertise in new platforms or continue with Google. In fact, research was also conducted on the certificates to gain more insights about future opportunities and Google Cloud Marketing. It turned out that new certificates keep on getting created and thus an opportunity for Programmads to grow as a Google reseller.