Three Lessons About Digital Transformation From The Gig Economy

Anil Somani, Chief Transformation Officer at Altimetrik, explores the impact of the gig economy on the payments industry in an article published on Forbes. As the gig economy grows, it introduces a hybrid model of transactions, merging business-to-consumer (B2C) and business-to-business (B2B) dynamics. This shift challenges the traditional distinction between high-value, low-volume B2B payments and low-value, high-volume B2C payments. Somani discusses how the payments industry is adapting through the concept of push payments, where the emphasis is on immediate transfers of funds and heightened security. He draws lessons from this transformation, emphasizing the importance of aligning digital transformation efforts with customer needs, leveraging existing infrastructure, and catering to the expectation of real-time interactions. The article’s insights serve as valuable takeaways for businesses across industries navigating the landscape of digital transformation.