The Age of Compressed Transformation: Fast-tracking the Digitalization Journey

Digital transformation is no longer a future goal, but a continuous evolving journey and need of the hour for enterprises. Yet, many Indian businesses, large and small, are lagging behind in adopting digital technologies. “Accenture’s research has found that before the pandemic, leaders in technology adoption and innovation were growing at 2x the rate of laggards. In the face of the pandemic, companies have compressed digital transformation and leaders are now growing 5x faster than laggards, further widening the gap,” Accenture’s Sandeep Dutta told CXOToday in an interview.?

“We are witnessing an era of compressed transformation with organizations simultaneously transforming multiple parts of their enterprise instead of longer-term step-by-step programs. There is no one-size-fits-all. Every industry has different hot spots and specific needs that need to be considered,” said Dutta. Key digital adoption trends include data-driven decision making, reimagining customer experience, and building a future-ready supply chain.?

In the post-pandemic economy, businesses need to focus on four primary areas – end-to-end organizational transformation, skilling, customer-centricity, and investment in data and technology. Simply put, an agile and adaptive business model is the key to remaining resilient in the future…Read more

News and Views

Digital Transformation Journey and its Challenges

In a conversation with BusinessWorld, Accenture’s Sandeep Dutta weighed in on the challenges faced by companies in their digital transformation journey. He spoke about the importance of cybersecurity in the digital age, and the importance of having “data privacy as part of the organization’s core DNA ingrained in their innovation methodology.” “Three key factors that need to be called out include – organizations are using data-driven transformations to create competitive advantage; hyper-personalization is being used to drive superior customer experience; and the ability to scale on demand is based on rapidly changing business and customer demands”…Read more

India@75: India’s Transformation into a Digital Nation

As India celebrated its 75th year of Independence, CXOToday reflected on the country’s digital transformation journey: how far we have come, and how much further there is yet to go. Private sector innovation has played an enormous role in driving the adoption of digital technologies and services such as e-commerce, digital payments, Aadhaar and more. “Going forward, businesses must continue to double down on their digital transformation efforts and investments, combining the power of data, artificial intelligence (AI), and Industry X, underpinned by the cloud. Companies need to commit to more digitally led partnerships, strategic investments and think beyond traditional industry boundaries” said Sandeep Dutta…Read more

Five Areas Companies Must Address for a Successful Digital Transformation Strategy

Driving big change in an organization is too difficult to pull off without a plan. There are five major areas companies must address, often in parallel: 1) Business strategy transformation; 2) Business operations realignment; 3) Adoption of new practices for agility and experimentation; 4) A flexible technology core for sustainable change; and 5) People change management. Understand digital transformation and how Accenture’s insights can help drive business value... Read more

Podcast: The Shift from Big Data to Small Data

How have consumer preferences changed as a result of the pandemic? Accenture’s Piyush Singh shared insights on the difference in consumer behavior in the post-pandemic world. He described the newfound fragility in consumer preferences as “consumers changed their preferences at a far more rapid pace because of the uncertainties.” He discussed the effects of the almost-overnight shift to digital living that the pandemic forced on consumers, and also referred to the emergence of the ‘phygital world’, and how that is adding another dimension to consumer behavior…Listen to the podcast

How Businesses can be Better Prepared for Uncertainties

In a Business Standard podcast, Piyush Singh said that most businesses are now prepared for uncertainties. “Going forward, disruptions are going to be the new normal in the supply chain, human capital, customer outreach, and a dynamic consumer preference bucket. Companies need to pick up customer and workforce trends and respond dynamically,” said Singh…Watch on YouTube

Accenture is ready to help as you begin to re-imagine your business. If you’d like to know more about how we can partner with you in your digital transformation journey, please feel free to contact us. Thank you!?

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