Digital Transformation: The 8% Who Made It Happen
As the COVID-19 crisis continues to affect the global economy, digitalisation has now become essential for operational resilience and to ensure business continuity. According to a Bain report, global companies tend to focus and invest in 4 main digital objectives: simplifying business processes, changing the way they engage with customers, redesigning products or services, and defining quantifiable objectives.
Nevertheless, only 8% of global companies were able to achieve their targeted business outcomes. But rather than looking at the 92% still struggling to find success, organisations should ask themselves how they can reach their targets by using technology to streamline business processes, unlock productivity and enable change. Digital transformation is no longer just an option but a requirement.
Best practices include AMEX GBT which managed to save 18,000 hours annually, gaining 99% of productive time; MGM which reached their 5-second agent response time goal on its primary chat-based support channel; or Virgin Trains which increased their customer satisfaction by 50 points, leading to a 20% reduction in operating costs.
- Is there a secret formula to success? What is it?
- What is it that most frequently represents a roadblock?
- What are some of the hurdles and challenges that IT leaders are facing as a direct result of the global pandemic?