60%
of people on Earth use the internet
Digital Transformation Center
Compete Effectively in the Digital Economy
It's time to decide how to best recover from the pandemic. As we emerge from the pandemic, your choices range from blindly turning everything back on to rising to the challenge of building a resilient organization that can thrive in a digital economy.
Talk to an AnalystPre-Pandemic Challenges
- Digital Disintermediation
- The "Digital Divide"
- Supply Chain Disruptions
- Environmental Degradation
The Digital Economy
- Competitive Advantage Through AI
- Digital Currencies and Finance
- Supply Chain Transparency and Resilience
- Carbon Reduction Technologies and Reporting
Why Transform?
As the world emerges from the pandemic, two absolute imperatives face leaders today: 1) Recover from COVID-19 by returning to growth, and 2) Bolster the resilience of their organizations to future shocks.
The return to growth can unfold by automating costly and ineffective tasks, procedures, and processes with proven and new “digital transformation” alternatives described within this report and by exploring new value chains enabled by digital channels. Resilience can be achieved by diversifying segments and markets and by enabling a delocalized workforce to operate autonomously.
What Is Digital Transformation?
Digital transformation refers to steps undertaken to change enterprise tasks, procedures, and processes that are outdated, ineffective, and costly in nature into methods that are far more automated, profitable, and productive.
What is the Digital Economy?
The term “Digital Economy” is a concept that involves an economic environment reliant upon, or significantly enhanced by the use of digital inputs, digital infrastructure, digital services and data, to produce a flow of output of goods and services that people utilize. It refers to all producers and consumers, including governments. The notion of the digital economy has become commonplace to describe how digital technology is changing patterns of production and consumption.
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Our Approach
Define a Digital Business Strategy to:
- Digitalize ineffective enterprise tasks, procedures, and processes that are outdated, ineffective, and costly.
- Digitally transform organizational structures, cultures, business models, etc. to take optimal advantage of the enterprise tasks, procedures, and processes that have also been digitalized.
- Become a digital business, where more than 66% of all enterprise tasks, procedures, and processes are automated.
- Compete in the digital economy, where more than 50% of all consumer, primary, secondary, and tertiary economic activities are automated.
Drivers of a Digital Economy
20%
of global retail sales performed via e-commerce
13%
e-commerce share of total b2b sales in US
9.6%
The digital economy accounted for 9.6% (2.05 T) of US GDP (21.4 T)
Human Benefits
To avoid unintended consequences of automation, a digital business strategy cannot lose focus on those the organization is creating value for. Human experience, resilience, and trust must be held in balance with the business benefits of transformation.
Business Benefits
Too many digital transformation initiatives have failed, resulting in an excess of wasted investment and risk hesitancy. True business fundamentals must be brought back into the equation in order to succeed in transformation.
1
Strategy
Digital transformation is not simply about technology. Your digital strategy efforts must capture how your organization creates value in a digital era.
Measure Digital Readiness
Design a Digital Operating Model
Define Your Digital Business Strategy
2
New Customer Frontiers
The global pandemic has unlocked new needs and opportunities for organizations to create value for their customers and citizens. Make sure you have a structure that enables continuous exploration.
Develop Digital-First Business Models
3
Workforce of the Future
Digital transformation is not necessarily about headcount reduction. The workforce and culture are integral to the future of the organization. Organizations must strive to keep learning and growing in diverse ways.
Enable a Distributed Workforce
Future-proof Your Practices
4
Resilient Operations
With new opportunities come new risks. Organizations must meet new digital threats head on, simultaneously focusing on operational responsiveness and resilience.
Plan for Flexibility
Apply Decentralized Models
Minimize Loss From Disruption
Mitigate New Risks
5
Continuous Innovation
To execute on a transformation, skills to support technological innovation will be necessary to develop internally and procure through partnerships.
Engage in Open Innovation
Accelerate Process Automation
Simulate Your Environment
Design for Emerging Needs
Build an AI Advantage
Accelerate Your Transformation
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