Business Transformation Essentials Case Studies And Articles Pdf
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These programs combine business and technical content bringing together management and information systems. Not every organization is aware that this kind of interferences has also a significant influence on the corporate vision, strategy, culture, values, and even the entire value chain - elements on which an organization's long-term success strongly depends. Despite the frequency and major significance of such transformations, managers rate the competencies of their companies rather poorly in this respect.
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- Business Transformation Essentials Case Studies And Articles
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Yet, as of , adoption of digital transformation has risen up to another level. This data shows how executives have already acknowledged the importance of digital transformation and demand for digital technologies will continue increasing.
However, a ccording to Global McKinsey Survey results , only less than 30 percent of digital transformation processes are success stories. Digital transformation is the process of integrating digital technologies into all aspects of a business to meet the market and changing business requirements.
It aims to increase the effectiveness of business operations and customer relations. To achieve these goals, organizations need to update their systems, processes, organizations and culture. Competition is increasing and digital transformation is powerful leverage for companies that aim to stay relevant. For example, the retail apocalypse triggered by the rise of e-commerce forced thousands of companies out of business. Failing to adapt to e-commerce as a retailer meant the end of many companies.
Successful digital transformation DX requires a well-designed framework that will guide you through your DX journey. This framework is our roadmap to digital transformation success. However, if you want to see more frameworks from different consulting companies, you can check out this article where we explained our framework comprehensively and listed five other frameworks. Each organization, with different needs, has a slightly different set of transition targets, but this is a crucial step towards organizational synergy.
Set a clear objective and build a feasible game plan which involves selecting areas of improvement and starting to integrate digital systems from those areas. Organizations should make research and decide on which enabler would be the best fit for the organization. Without leadership support, change projects tend to be unsuccessful. Having a CIO that is strongly supported by the leadership team and has a business impact of digital transformation as a KPI can be the difference between a successful and unsuccessful transformation.
With the culture and education you provide across the organization, staff adapts to change easier and each process in the firm is operating agile. Without cultural change, the company could miss the next technology revolution and require another significant transformation effort to catch up. We have seen three major cultural change for the companies that achieved digital transformation:. And as of , the popularity of RPA has not declined and businesses are continuing to adopt RPA software to leverage the power of automation in various use cases.
Some repetitive back-office tasks where businesses can benefit from RPA to achieve improved operational efficiency are:. Due to the increasing volume of data, Software-as-a-Service SaaS and on-premise solutions on the cloud are getting more popular among businesses. Along with scalability benefits, cloud technologies can also provide compliance with privacy and security regulations. However, advancements in edge computing and analytics are enabling businesses to invest in IoT and edge analytics more.
Businesses should benefit from these two technologies when. The objective of the digital transformation is leveraging data and technologies that turn data into insights to deliver better services and operational excellence.
Yet, with great power comes great responsibilities. As the volume of data businesses must secure increases and we hear different data breach stories that cost companies millions , the demand for cybersecurity technologies will continue to grow. Blockchain technology mostly emerges due to a lack of transparency and security provided by legacy systems. In industries such as banking, insurance and healthcare, trust in the system is ensured by central companies.
Blockchain technology enables decentralization of trust and enables customers to share their Personally Identifiable Information PII and Personal Health Information PHI and conduct transactions in a secure, verifiable manner..
Smart contract is one of the most common applications of blockchain After cryptocurrency and enables removing intermediaries, increasing efficiencies.
The technology has significant potential to eliminate trust issues while engaging with third parties.
This becomes more important due to use cases such as:. The benefits of working from home is acknowledged by most companies and many plan to continue the shift towards remote work. As a global team that has years of experience with the remote working approach, we wrote a comprehensive guide about working from home. In this guide, you can find benefits, challenges, best practices and leading solution providers of telecommuting for businesses and employees, feel free to check it out.
Prioritizing bottlenecks to resolve is valuable but has always been a struggle for businesses. There might be anecdotes showing that something is slowing down productivity , but without evidence, it is hard to support these assumptions. Process mining technology allows companies to mine processes to find those bottlenecks and boost process performance.
Some use cases of process mining are process improvements such as:. Process mining has more than 30 business applications. Feel free to read our related article to learn other process mining applications. Omnichannel platforms serve organizations to create a single customer experience across different channels.
The omnichannel strategy puts the customer at the core of the business to match the customer-centric objectives of digital transformation projects. Artificial intelligence is the technology that can empower most of the technologies we listed above thanks to its capability to process data at scale.
However, in the context of digital transformation, deploying AI mostly means deploying one of the following technologies:. Quantum computing is an effective computing approach for modelling the real world. Its applications mostly focus on :. Task mining technology monitors user interaction data using technologies like screen capture and helps companies understand how they handle tasks.
By combining this technology with process mining , businesses can better understand their processes and take specific actions for process improvement. The best way to understand digital transformation is by examining successful case studies. Therefore, we decided to make a list of digital transformation success stories. Here are some example case studies from established digital transformation consulting companies:.
For example, after Nokia finalized its acquisition of Alcatel-Lucent, they experienced misalignment in order-to-cash and purchase-to-pay processes because these two companies had completely different process dynamics. In return, Nokia was able to analyze and improve processes to reduce lead time.
Anil Bhatt, vice president and head of digital solutions and experience for Anthem, focused on building agile structure, creating talent and establishing the right leadership to maximize output from digital transformation. Dan Nordlander, senior vice president of Western Union Way Operations at Western Union, points out the importance of alignment across departments and having senior managers drive the transformation in digital transformations.
He mentions that the manager should understand what is easy about the job and what is not rather than inspecting employees. Managers are able to get a better sense of processes and can make the process easier for employees and better for clients. Therefore we provide you a sortable list of 31 successful case studies:. Since only less than 30 percent of digital transformation processes are success stories, it is important to understand best practices to ensure the success of digital transformations.
When organizations plan to implement an agile process, IT and management should be working together on the project. Business mentality should be prevalent across the organization so that IT and management crews work efficiently to keep the team focused on customer needs and objectives of the project. As mentioned before, culture change is a must for digital transformation due to avoid failure.
To achieve cultural change across the organization, communication about the digital transformation and having initiatives to digitize the culture such as prioritizing design thinking and experimentation are important. Establishing an effortless and computerized interface to interact with them is an essential tool to be a support service during or after the purchasing process.
Vendors have incentives to sell service costs and try to sell outsourcing services instead of the latest technology which reduces the need for outsourcing. You should ensure that you are getting the optimal technology during the digital transformation. Invoice processing is such an area where companies need to pay attention:. While companies still talk about digital transformation, a new transformation is underway: AI transformation.
With the rise of deep learning and most major tech companies claiming to be AI-first , it is clear that AI will create major opportunities for business. Companies should not pass the opportunity to embed AI into their decision-making systems while completing their digital transformation. You can use our AI use cases to find out-of-the-box solutions for your company or look into our guide for building custom AI solutions for your business.
If you want to learn more about custom AI solutions, feel free to read our whitepaper on the topic:. These are the main players in the healthcare industry and digital transformation proposes different benefits to each player:. For more information on digital transformation in the healthcare industry, feel free to check our article.
For more information on digital transformation in retail, feel free to check our related article. Digital transformation offers banks automation opportunities and digital banking products that enable secure and frictionless customer journeys.
For more information on digital transformation in banking, feel free to check our article. Digital technologies are evolving the real estate industry via services such as virtual tours, automated transactions and personalized services that can enhance the home buying experience while automating tedious tasks for real estate agents.
For more information on digital transformation in real estate, feel free to check our article. With digital technologies, insurers can automate tasks such as claim processing and fraud detection so that they can focus on developing customer centric products.
For more information on digital transformation in insurance, feel free to check our article. Digital transformation has fundamentally changed the consulting landscape. New players such as Accenture that entered the market in the 90s have grown far beyond traditional management consulting companies such as Mckinsey and BCG.
However, IDC study highlights that businesses are not deferring or canceling their digital transformations investments. Google trends data also reveals that the interest in digital transformation has reached its peak during pandemic:.
Feel free to check out our prioritized, sortable, filterable list of digital transformation conferences for business users. And if you are ready for what comes after typical digital transformation projects, feel free to read our articles on AI transformation:.
Your feedback is valuable. We will do our best to improve our work based on it. Cem founded AIMultiple in Throughout his career, he served as a tech consultant, tech buyer and tech entrepreneur.
During his secondment, he led the technology strategy of a regional telco while reporting to the CEO. He has also led commercial growth of AI companies that reached from 0 to 7 figure revenues within months.
Cem regularly speaks at international conferences on artificial intelligence and machine learning. Your email address will not be published.
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Business Transformation Essentials Case Studies And Articles
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Digital transformation is the cultural, organizational and operational change of an organization, industry or ecosystem through a smart integration of digital technologies, processes and competencies across all levels and functions in a staged and strategic way also see digital transformation strategy. Digital transformation also DX or DT leverages technologies to create value and new services for various stakeholders customers in the broadest possible sense , innovate and acquire the capabilities to rapidly adapt to changing circumstances. While digital transformation is predominantly used in a business context, it also impacts other organizations such as governments, public sector agencies and organizations which are involved in tackling societal challenges such as pollution and aging populations by leveraging one or more of these existing and emerging technologies. Digital transformation is not just about disruption or technology.
Business Transformation Essentials Case Studies And Articles Reviews
This listing contains abstracts and ordering information for case studies written and published by faculty at Stanford GSB. In the ecosystem of golf, there are many stakeholders, but no single governing body with overarching power to direct the action of…. In , NEC focused on providing advanced IT, network, and data solutions, including cloud computing, AI and machine learning, Internet-of-Things platforms, and 5G networks as well as communication equipment installations. An award-winning company, NEC…. After conducting researching, the two decide to…. Robin Mohapatra acquired NCFDD, a for-profit online professional development company serving universities and their faculty members, through a search fund.
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