If you’re going to do something, do it right.
Sounds obvious, but how do you know that you’re ‘doing it right?’ It’s a question many organisations and business leaders ask themselves as they undergo a business transformation process. The challenge is no two businesses are the same; what works for one might not work for the other. A fool-proof, guaranteed roadmap to success is unfortunately still a pipedream. But that doesn’t mean we can’t be prepared and learn from the experience of others.
That is why we at Expleo are proud to launch the Business Transformation Index (BTI) 2022, our global research-based report into the drivers for and status of business transformation. The research draws on the responses of over 1,000 business leaders at large organisations across five countries to provide a comprehensive overview of the traits which unite the most successful organisations and transformation programmes.
What we learn from our research is that business transformation has become a more urgent priority than it already was: eight in 10 organisations have accelerated their plans since the start of the Covid-19 pandemic by an average of 14 months. In fact, 61% of businesses believe that fast-paced innovation is key to success. And those who are implementing transformation efforts faster than competitors are more likely to expect increased revenues and profits in the next five years. Be bold and you will reap the benefits.
But don’t be rash. The boldness of your vision should be complemented by effective implementation. Organisations should ensure they allocate appropriate resources and foster uptake of solutions among employees. An emphasis on quality and testing is also important in guaranteeing the effectiveness of any initiative. This was borne out by the fact that 51% of businesses believe in a structured approach to transformation as opposed to 28% favouring a “fail fast” mentality. A reliable plan will make the most of your vision.
The BTI 2022 report also lets us know how the pandemic continues to influence digitalisation efforts and also how priorities are evolving. The number one driver for transformation efforts is to improve customer experience – above traditional financial drivers – suggesting that the ultra-competitive, digital-first market that has accelerated over the past 18 months is here to stay.
Do you want to know if your company is a ‘Star’, a ‘Striver’ or a ‘Starter’? You can use a simple and anonymous tool where organisations can benchmark their own performance on our Bold & Reliable Index based on these characteristics.
At Expleo, our experts are ready to support you on your transformation journey to fast-track innovation through over 40 years of cross-industry experience.
Remember in 2022 – Think Bold, Act Reliable.
