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DIGITAL Elephant in the Room
What is possible when our digital capabilities are put to work
Digital Capabilities for today's challenges: outcomes we are driving
Responding to the challenges of the pandemic has opened eyes. Having caught a glimpse of what is possible, stakeholder groups of every stripe—customers, employees, suppliers, partners and investors—are eager to see improvements continue and to ensure that their organizations emerge from this crisis ready to compete in whatever tomorrow’s new reality looks like. They’ve seen that old norms and limits on how companies think, compete and engage with the world around them are no longer the barriers they were once thought to be.
To derive maximum value from their digital agenda, KPMG believes companies must focus not on technology for technology’s sake, but rather on how technology can be leveraged efficiently to drive these five high-level outcomes:
Driving down costs
In part by automating time-consuming and error-prone manual business processes. Companies that can do everything the other guy does but for less, with comparable speed and quality, will inevitably win out.
By giving all employees, from the c-suite to the front lines, ready access to the data and insights they need, they can begin to make better decisions and unleash their creativity across the enterprise. The one thing we can know for sure about tomorrow is that new technologies will continue to enable disruption of today’s business models.
Creating the agility needed to compete successfully
Digital agility means being able to pivot and change quickly when the next disruptive event occurs without having to retool. A digital operating model lets companies develop and build new products, and introduce new levels of service, faster. In fact, speed to market and speed to value will remain consistent themes moving forward.
Delivering better, more personalized customer experiences
Personalization by savvy retailers has conditioned consumers to expect the brands they do business with to understand what they want and to deliver on that understanding in whatever way makes most sense for the customer. This can be done by leveraging data-driven innovation.