e-business at · new assumptions in selling ... it enabled transformation high low transformation...
TRANSCRIPT
![Page 1: E-business at · New Assumptions in Selling ... IT Enabled Transformation High Low Transformation EvolveEvolve ... • Launch of e-Bonds distribution capability](https://reader033.vdocuments.mx/reader033/viewer/2022042620/5ac691f27f8b9a5c558e092f/html5/thumbnails/1.jpg)
E-business atwww.westpac.com.au
Jerry Gross, Group Executive I.T. and e-Business
March 2001
![Page 2: E-business at · New Assumptions in Selling ... IT Enabled Transformation High Low Transformation EvolveEvolve ... • Launch of e-Bonds distribution capability](https://reader033.vdocuments.mx/reader033/viewer/2022042620/5ac691f27f8b9a5c558e092f/html5/thumbnails/2.jpg)
DisclaimerDisclaimerThe material contained in the following presentation isintended to be general background informationon Westpac Banking Corporation and its activitiesas at 22 March 2001.
The information is supplied in summary form and istherefore not necessarily complete. Also, it is not intendedthat it be relied upon as advice to investors or potentialinvestors, who should consider seeking independentprofessional advice depending upon their specificinvestment objectives, financial situation or particular needs.
![Page 3: E-business at · New Assumptions in Selling ... IT Enabled Transformation High Low Transformation EvolveEvolve ... • Launch of e-Bonds distribution capability](https://reader033.vdocuments.mx/reader033/viewer/2022042620/5ac691f27f8b9a5c558e092f/html5/thumbnails/3.jpg)
Strategic IntentStrategic Intent
CustomerIntimacy
OperationalExcellence
ProductInnovation
![Page 4: E-business at · New Assumptions in Selling ... IT Enabled Transformation High Low Transformation EvolveEvolve ... • Launch of e-Bonds distribution capability](https://reader033.vdocuments.mx/reader033/viewer/2022042620/5ac691f27f8b9a5c558e092f/html5/thumbnails/4.jpg)
1999/2000Focus
Strategic IntentStrategic Intent
CustomerIntimacy
OperationalExcellence
ProductInnovation
![Page 5: E-business at · New Assumptions in Selling ... IT Enabled Transformation High Low Transformation EvolveEvolve ... • Launch of e-Bonds distribution capability](https://reader033.vdocuments.mx/reader033/viewer/2022042620/5ac691f27f8b9a5c558e092f/html5/thumbnails/5.jpg)
2001Focus
Strategic IntentStrategic Intent
CustomerIntimacy
OperationalExcellence
ProductInnovation
![Page 6: E-business at · New Assumptions in Selling ... IT Enabled Transformation High Low Transformation EvolveEvolve ... • Launch of e-Bonds distribution capability](https://reader033.vdocuments.mx/reader033/viewer/2022042620/5ac691f27f8b9a5c558e092f/html5/thumbnails/6.jpg)
Westpac FocusWestpac Focus
Fully IntegratedManufacturer/Distributor
• Individual product view of eachcustomer, fragmented acrossmultiple contact points
• Mass market orientation (limitedcustomisation)
• Relatively narrow product range,mainly manufactured in-house
• Old economy, in-house, resourceintensive focus
Trusted Retailerof Financial Solutions
• Integrated customerunderstanding, independent ofcontact point
• Creating individual financialsolutions
• Broad product rangeaggregated across suppliers
• Multi-channel delivery platform
![Page 7: E-business at · New Assumptions in Selling ... IT Enabled Transformation High Low Transformation EvolveEvolve ... • Launch of e-Bonds distribution capability](https://reader033.vdocuments.mx/reader033/viewer/2022042620/5ac691f27f8b9a5c558e092f/html5/thumbnails/7.jpg)
E-Commerce MythsE-Commerce Myths
NEW LESSONS• Distance Learning vs. Universities• PDA’s vs. Laptops• Careers.com vs. headhunters• e-Tailers vs. Malls• Online players vs. Brick and Mortar players• Call Centres vs. web-based support
![Page 8: E-business at · New Assumptions in Selling ... IT Enabled Transformation High Low Transformation EvolveEvolve ... • Launch of e-Bonds distribution capability](https://reader033.vdocuments.mx/reader033/viewer/2022042620/5ac691f27f8b9a5c558e092f/html5/thumbnails/8.jpg)
New Assumptions in SellingNew Assumptions in Selling
The death of the transaction• the rise of the relationship
The death of the passive consumer• the rise of active co-creator
The death of opaqueness• the rise of transparency
The death of the product• the rise of experience
![Page 9: E-business at · New Assumptions in Selling ... IT Enabled Transformation High Low Transformation EvolveEvolve ... • Launch of e-Bonds distribution capability](https://reader033.vdocuments.mx/reader033/viewer/2022042620/5ac691f27f8b9a5c558e092f/html5/thumbnails/9.jpg)
The New Exchange ArchitectureThe New Exchange Architecture
- Marketer-initiated- Marketer-controlled- Monologue- One-time
- Customer-initiated- Customer-controlled- Conversation- Ongoing
Industrial AgeIndustrial Age Information AgeInformation Age
![Page 10: E-business at · New Assumptions in Selling ... IT Enabled Transformation High Low Transformation EvolveEvolve ... • Launch of e-Bonds distribution capability](https://reader033.vdocuments.mx/reader033/viewer/2022042620/5ac691f27f8b9a5c558e092f/html5/thumbnails/10.jpg)
Banks’ competitive advantageBanks’ competitive advantage
Buyer Value ChainRequest for information /
purchase enquiry
Assess pricing, service levels, quality
Place order for goods
Receive invoice / goods
Pay for goods
Seller Value Chain
Supply product information, respond to information
requests
Price goods & services
Fulfil orders
Ship goods and
invoice buyer
Receive payments for
goods and services
BANK
BANK
Increasing need for Trust Payments System$
![Page 11: E-business at · New Assumptions in Selling ... IT Enabled Transformation High Low Transformation EvolveEvolve ... • Launch of e-Bonds distribution capability](https://reader033.vdocuments.mx/reader033/viewer/2022042620/5ac691f27f8b9a5c558e092f/html5/thumbnails/11.jpg)
Banks’ competitive advantageBanks’ competitive advantage
• Our legacy is also an advantage:
- Already playing a key role in facilitatingcommerce
- Large distribution networks
• Position of trust
• Large online community across the fullspectrum of customers
![Page 12: E-business at · New Assumptions in Selling ... IT Enabled Transformation High Low Transformation EvolveEvolve ... • Launch of e-Bonds distribution capability](https://reader033.vdocuments.mx/reader033/viewer/2022042620/5ac691f27f8b9a5c558e092f/html5/thumbnails/12.jpg)
Westpac BeliefsWestpac Beliefs
• "Clicks and Bricks" is the ultimate offensive play
• Focus on "Outside In”
• Superior execution
• Self-serve mass customisation
• Straight through processing
• New business models
• Build to change, not build to last
• All Commerce is e-Commerce
• Alliance Culture
![Page 13: E-business at · New Assumptions in Selling ... IT Enabled Transformation High Low Transformation EvolveEvolve ... • Launch of e-Bonds distribution capability](https://reader033.vdocuments.mx/reader033/viewer/2022042620/5ac691f27f8b9a5c558e092f/html5/thumbnails/13.jpg)
Should we, or someone else do it?Should we, or someone else do it?
StrategicImportance
SustainableProfitability
AvailableOpportunities
PortfolioStrategies
![Page 14: E-business at · New Assumptions in Selling ... IT Enabled Transformation High Low Transformation EvolveEvolve ... • Launch of e-Bonds distribution capability](https://reader033.vdocuments.mx/reader033/viewer/2022042620/5ac691f27f8b9a5c558e092f/html5/thumbnails/14.jpg)
NETWORK
HARDWARE
OPERATING SYSTEM
MESSAGING
MIDDLEWARE
OBJECTS
GUI
Robust Robust largelargescale scale managementmanagement
Focusing on Customer Rich ComponentsFocusing on Customer Rich Components
Rapid ExecutionRapid ExecutionClose to the CustomerClose to the Customer
![Page 15: E-business at · New Assumptions in Selling ... IT Enabled Transformation High Low Transformation EvolveEvolve ... • Launch of e-Bonds distribution capability](https://reader033.vdocuments.mx/reader033/viewer/2022042620/5ac691f27f8b9a5c558e092f/html5/thumbnails/15.jpg)
Stay-in-businessinitiatives
(evolutionary, incremental)
Destroy-your-business initiatives
(revolutionary, discontinuous)
Duality in eBusiness initiativesDuality in eBusiness initiatives
eBusiness
Differencesscopespeed
fundingpeople
incentives
![Page 16: E-business at · New Assumptions in Selling ... IT Enabled Transformation High Low Transformation EvolveEvolve ... • Launch of e-Bonds distribution capability](https://reader033.vdocuments.mx/reader033/viewer/2022042620/5ac691f27f8b9a5c558e092f/html5/thumbnails/16.jpg)
HighHighPotential Buyer Value
Capture
LowLow
IT E
nab
led
Tra
nsf
orm
atio
n
HighHigh
LowLow
TransformationTransformation(New Value Propositions)(New Value Propositions)EvolveEvolve
Competitive PositionCompetitive Position(Enhanced Revenues (Enhanced Revenues
and relationships)and relationships)ExtendExtend
Investment OptionsInvestment Options
EnhanceEnhanceEfficiencyEfficiency
(Cost Savings)(Cost Savings)
EffectivenessEffectiveness(Reduced time, (Reduced time,
improved process quality)improved process quality)
![Page 17: E-business at · New Assumptions in Selling ... IT Enabled Transformation High Low Transformation EvolveEvolve ... • Launch of e-Bonds distribution capability](https://reader033.vdocuments.mx/reader033/viewer/2022042620/5ac691f27f8b9a5c558e092f/html5/thumbnails/17.jpg)
Venture AccelerationVenture Acceleration
PartnershipManagementTeam
Ability to CreateValue
Track Record
Focused Strategy
![Page 18: E-business at · New Assumptions in Selling ... IT Enabled Transformation High Low Transformation EvolveEvolve ... • Launch of e-Bonds distribution capability](https://reader033.vdocuments.mx/reader033/viewer/2022042620/5ac691f27f8b9a5c558e092f/html5/thumbnails/18.jpg)
What progress have we made...What progress have we made...
• Launch of New Zealand Internet Banking service• Launch of f2 Domain home lending partnership• Launch of Healthpay health insurance payroll contributions service• Launch of SME Superannuation contribution service• Launch of Westpac Broking• Launch of Business Internet Banking service• Launch of third party payments capability for business and consumer
customers• Launch of yieldbroker.com fixed interest trading portal• Launch of e-Bonds distribution capability• Launch of FX Online foreign exchange trading capability• Launch of On-line Research service• Launch of Nostro / AUD online institutional accounts service• Redesign and re-Launch of westpac.com.au site• Establishment of Metiom Australasia JV to provide eProcurement and
B2B Marketplace services
Key capabilities launched in the last year
![Page 19: E-business at · New Assumptions in Selling ... IT Enabled Transformation High Low Transformation EvolveEvolve ... • Launch of e-Bonds distribution capability](https://reader033.vdocuments.mx/reader033/viewer/2022042620/5ac691f27f8b9a5c558e092f/html5/thumbnails/19.jpg)
The End Game?The End Game?
• Execution will be the determinant
• Capture and exploit ideas
• Partner for targeted ASP offerings
• New customer relationship
• Proactively offer new services
• “Open” marketplaces
• Comparing to best practices in anyindustry
![Page 20: E-business at · New Assumptions in Selling ... IT Enabled Transformation High Low Transformation EvolveEvolve ... • Launch of e-Bonds distribution capability](https://reader033.vdocuments.mx/reader033/viewer/2022042620/5ac691f27f8b9a5c558e092f/html5/thumbnails/20.jpg)
Jerry [email protected]