A scientiﬁc method for transformation
Observation: As digital acceleration transforms industries and customer and employee expectations, leaders play a vital role in deploying advanced technology and data to integrate functions that meet evolving needs. From fast-tracking the adoption of new methods of working to the incubation of new business models, the current landscape forces end to end transformation. At EY, we see transformation as evermore critical to long-term value creation.
Hypothesis for transformation: Relentless focus on the customer and the entire value chain
Almost half of all companies say meeting changing customer demands is driving their digital transformation. Giving customers visibility into your organization, supply chain and product quality, and delivery builds trust to meet customer expectations. Technology leaders need to partner even more with the business to power new customer-centric strategies and experiences with technology.
Experiment with your business model:
Increase flexibility by nurturing ecosystem partnerships: 68% of digital transformation leaders think it’s the only way to succeed. Seek out new partnerships and curate ecosystems of value to move at speed, create new products and services and deliver on customer expectations.
Modernize IT for efficiency, resilience and agility. Modernizing and automating IT, addressing technology debt, re-imagining the operating model, increasing resiliency and improving security are critical for a company to position itself for a more technology and data-intensive business environment. Leading companies are making the case to modernize IT while also investing in building a digital foundation to drive long-term growth.
Collect and analyze data:
Utilize analytics and AI for deeper visibility and insights. Trusted data and AI are a fast track to gaining value-driving and monetizing insights. Focus on where problems and opportunities lie – customer experience, product innovation and personalization, supply chain and operations, pricing – and integrating AI into associated processes and business needs.