The research, conducted in partnership with FORTUNE Knowledge Group, reveals an unequivocal need for transformation that permeates and fundamentally alters an organization
Publicis.Sapient, the world’s most advanced digital transformation platform, today released a report in partnership with FORTUNE Knowledge Group that defines and measures the tangible impact of digital business transformation on organizations succeeding in today’s digitally connected world.
The insights in the report, titled “Executives Reveal the Impact of Digital on Business Transformation,” were gleaned through research conducted in partnership with FORTUNE Knowledge Group and assesses the degree of transformation and the digital maturity of 500 leading global organizations as it relates to 32 specific innovations across six key areas of transformation. It also examines how digital leaders — those who take a holistic view of digital transformation across our criteria — differ from their less advanced counterparts in terms of operations, structure, technological capabilities, customer value and vision.
Now available here, Publicis.Sapient articulates key steps that businesses can take to translate a customer-centric transformation vision into strategic action.
“In pursuit of transformation, many executives seek to understand the benefits and opportunities created by a wide range of transformation activities – from the complete reinvention of their business model to smaller, incremental enhancements to operations or customer experience," said Nigel Vaz, CEO - Publicis.Sapient International and Digital Business Transformation Lead at Publicis Groupe. “By analyzing the successes of real world businesses, we’re not only able to define successful transformation in the digital age, but also articulate the tangible benefits for businesses and how leaders can take steps today to begin unlocking them.”
Given the speed at which the competitive landscape is changing, the research highlights a need for leaders to rapidly transform traditional businesses of the past into digitally mature businesses equipped for tomorrow, or risk being overtaken by more nimble competitors.
The analysis revealed seven key findings that collectively illustrate how digital maturity impacts profitability, customer-centricity and talent:
Digital transformation maturity is linked to profitability.
Digital transformation efforts are those that put the customer at the center of the business model; a focus on customer experience is rewarding regardless of where you sit on the transformation continuum.
Transformation relies on creating a connected digital enterprise.
Digital leaders understand the value of rapidly realizing transformative strategies.
Data complexity is the top obstacle for mature organizations’ transformation efforts; leading firms are using AI, machine learning and other methods.
The rapidly changing competitive landscape is a key driver behind most digital transformation strategies.
Digital transformation requires a clear vision and dedicated resources.
“In the era of digital disruption, the C-suite is increasingly grappling with how to transform their businesses in order to meet the demands of today’s consumers,” said Carolina Stavrositu, Executive Director, B2B & FORTUNE Knowledge Group, The Foundry @ Time Inc. “Teaming up with Publicis.Sapient, we aim for this report to help executives not only understand the value of transformation, but how to make it happen for their businesses.”
The report outlined key recommendations for leaders to guide relevant parties – customers, employers, suppliers and the C-suite – along the transformation journey. For more information about the report or for an in-depth session on reimagining digital business transformation, contact Hilding Anderson.
In 2016, FORTUNE Knowledge Group, in partnership with Publicis.Sapient, conducted a global, cross-industry survey of 500 senior executives at leading organizations to assess each company’s digital maturity and examine how digital leaders – those who take a holistic view of digital transformation – differ from their less advanced counterparts in terms of operations, structure, technological capabilities, and vision. The survey was limited to companies that have undertaken at least some digital transformation initiatives. Just over half of the respondents are C-level executives, nearly one-quarter hold SVP/VP positions and the remainder are directors and heads of business units. The respondents are engaged in a wide range of business functions across nine industries. Companies with annual revenues of between US$1bn and $5bn make up about 60 percent of the sample, and nearly one-in-five have revenues between $500m and $1bn. The next, bi-annual version of the study will be released in Q1 2018.
The degree of digital maturity was calculated for each participating organization by assigning scores based on the actions it has taken across key areas of transformation. Survey participants received three points if they self-described as having ‘implemented’ transformation; two points if they were ‘in the process of implementing’; and one point if they had ‘clearly defined plans’ to implement transformation.
Publicis.Sapient, the digital business transformation hub of Publicis Groupe, helps clients drive growth and efficiency and evolve the ways they work, in a world where consumer behavior and technology are catalyzing social and commercial change at an unprecedented pace. With 19,000 people and over 100 offices around the globe, our expertise spanning technology, data sciences, consulting and creative combined with our culture of innovation enables us to deliver on complex transformation initiatives that accelerate our clients’ businesses through creating the products and services their customers expect.
Fortune Knowledge Group, the thought leadership arm of The Foundry, Time Inc.’s creative lab and content studio, creates untapped thought leadership industry insights, giving the C-suite a competitive advantage in their business strategies. Unparalleled access to global business leaders, FKG content experiences connect business leaders to their peers to exchange business strategies, challenges and solutions in their respective industries across global markets.
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