CIO Straight Talk - Issue 12 - 30

First, I realized that whether the goal is greater
efficiency or a new product, you've got to be
clear about the business problem you are trying
to solve, and then find the right technology to
solve it, not the other way around.
The other thing I realized even more was that
business change is complicated. People focus on
technological change, but business change can
be just as complicated. You need to keep your
eye on both.
Finally, I had a deeper awareness that keeping
the users' perspective in mind end-to-end is
really, really, really important. You won't find a
negative news story about contactless because
the launch was so smooth that nobody could find
anything wrong with it. That took a huge amount
of consideration with respect to how the system
is designed, and how the launch preparation
was handled.
In the last 12 or 13 years since we've been on this
path, our cost of revenue collection has dropped
from 15% of revenue to about 8% of revenue. The
total savings for us as a result of contactless and
other operational innovations is on the order of
nearly £300 million per annum.
Today, TfL collects about £8 million a day
through contactless payments. The UK overall
probably takes in about 7 billion pounds through
contactless payments per month. And worldwide,
the numbers are probably $40-$50 billion per
month. Driving change on this scale is not easy.
But I think we have demonstrated that
it's possible.
Takeaways
* Ask fundamental questions about why
you do things. Disruptive innovation
begins with a disruptive question.
* Begin with the business. It's important
to begin not with the technology but the
business rationale for any technology
project you undertake.
* Think about the customer. Many
ideas go wrong because people don't
think enough about the customers'
requirements.
30

CIO Straight Talk - Issue 12

Table of Contents for the Digital Edition of CIO Straight Talk - Issue 12

Contents
CIO Straight Talk - Issue 12 - Cover1
CIO Straight Talk - Issue 12 - Cover2
CIO Straight Talk - Issue 12 - 1
CIO Straight Talk - Issue 12 - Contents
CIO Straight Talk - Issue 12 - 3
CIO Straight Talk - Issue 12 - 4
CIO Straight Talk - Issue 12 - 5
CIO Straight Talk - Issue 12 - 6
CIO Straight Talk - Issue 12 - 7
CIO Straight Talk - Issue 12 - 8
CIO Straight Talk - Issue 12 - 9
CIO Straight Talk - Issue 12 - 10
CIO Straight Talk - Issue 12 - 11
CIO Straight Talk - Issue 12 - 12
CIO Straight Talk - Issue 12 - 13
CIO Straight Talk - Issue 12 - 14
CIO Straight Talk - Issue 12 - 15
CIO Straight Talk - Issue 12 - 16
CIO Straight Talk - Issue 12 - 17
CIO Straight Talk - Issue 12 - 18
CIO Straight Talk - Issue 12 - 19
CIO Straight Talk - Issue 12 - 20
CIO Straight Talk - Issue 12 - 21
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CIO Straight Talk - Issue 12 - 24
CIO Straight Talk - Issue 12 - 25
CIO Straight Talk - Issue 12 - 26
CIO Straight Talk - Issue 12 - 27
CIO Straight Talk - Issue 12 - 28
CIO Straight Talk - Issue 12 - 29
CIO Straight Talk - Issue 12 - 30
CIO Straight Talk - Issue 12 - 31
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CIO Straight Talk - Issue 12 - 33
CIO Straight Talk - Issue 12 - 34
CIO Straight Talk - Issue 12 - 35
CIO Straight Talk - Issue 12 - 36
CIO Straight Talk - Issue 12 - 37
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CIO Straight Talk - Issue 12 - 40
CIO Straight Talk - Issue 12 - 41
CIO Straight Talk - Issue 12 - 42
CIO Straight Talk - Issue 12 - 43
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CIO Straight Talk - Issue 12 - 45
CIO Straight Talk - Issue 12 - 46
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CIO Straight Talk - Issue 12 - 49
CIO Straight Talk - Issue 12 - 50
CIO Straight Talk - Issue 12 - 51
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CIO Straight Talk - Issue 12 - 55
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CIO Straight Talk - Issue 12 - 60
CIO Straight Talk - Issue 12 - 61
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CIO Straight Talk - Issue 12 - 63
CIO Straight Talk - Issue 12 - 64
CIO Straight Talk - Issue 12 - 65
CIO Straight Talk - Issue 12 - 66
CIO Straight Talk - Issue 12 - 67
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CIO Straight Talk - Issue 12 - 69
CIO Straight Talk - Issue 12 - 70
CIO Straight Talk - Issue 12 - 71
CIO Straight Talk - Issue 12 - 72
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CIO Straight Talk - Issue 12 - 75
CIO Straight Talk - Issue 12 - 76
CIO Straight Talk - Issue 12 - 77
CIO Straight Talk - Issue 12 - Cover3
CIO Straight Talk - Issue 12 - Cover4
https://magazine.straighttalkonline.com/hi_tech
https://magazine.straighttalkonline.com/issue12
https://magazine.straighttalkonline.com/assetheavy2020
https://magazine.straighttalkonline.com/lifesciencesandhealthcare2019
https://magazine.straighttalkonline.com/womenintech2
https://magazine.straighttalkonline.com/financialservices2019/
https://magazine.straighttalkonline.com/issue11
https://magazine.straighttalkonline.com/issue10
https://magazine.straighttalkonline.com/issue9
https://magazine.straighttalkonline.com/womeninit
https://magazine.straighttalkonline.com/financialservices
https://magazine.straighttalkonline.com/issue8
https://magazine.straighttalkonline.com/issue7
https://magazine.straighttalkonline.com/issue6
https://magazine.straighttalkonline.com/issue5
https://magazine.straighttalkonline.com/issue4
https://magazine.straighttalkonline.com/issue3
https://magazine.straighttalkonline.com/issue2
https://magazine.straighttalkonline.com/issue1
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