Mastering Cost Optimisation Delivering an Effective Digital Transformation
Benefits of an Effective Digital Strategy
▪ Boost Customer Loyalty: Personalisation increases sales; up to 80% more likely to buy
▪ Cut Costs: Automation and streamlined processes cuts costs; save up to 30%
▪ Gain Advantage: Businesses leading in digital innovation; 64% more likely to succeed
▪ Make Smart Decisions: Businesses using real time data; 23x’s more likely to acquire customers
Common Mistakes made
▪ Not Matching Business Goals: Digital efforts do not match business goals
▪ Underestimating Complexity: Failing to grasp & address the full scope of transformation
▪ Poor Data Handling: Poor data handling leads to inefficient services and higher costs
▪ Not Involving Employees: Not engaging early or often throughout the transformation.
Key strategies for Digital Strategy and Execution
▪ Leadership Vision: CEO and senior leadership must support and lead
▪ Innovation Culture: Invest in continuous learning and build skilled digital teams
▪ Agile Ways Of Working: Develop responsive, processes using models like digital factories
▪ Robust Technology: Focus on scalable, flexible systems and software connectors for automation
▪ Data As a Strategic Asset: Build a data-driven culture, with accessible, high-quality data
▪ Focus On Adoption: Match solutions to user needs and business objectives for scaling.
How – To - Guide
1. Define Clear Objectives: Specific, measurable, objectives aligned with business goals
2. Assess Current Capabilities: Evaluate technology, processes and talent
3. Develop A Roadmap: Detailed plan with key initiatives and timelines
4. Invest in Technology: Implement robust, scalable systems
5. Foster a Digital Culture: Encourage innovation and continuous learning
6. Monitor and Adapt: Regularly review progress and adjust strategies
7. Engage Stakeholders: Ensure ongoing communication and involvement.
▪ Align senior leadership on the vision and value, with a business led roadmap for digital transformation
Strategic Leadership
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Ensure everyone uses the new digital solutions and can expand them effectively
Ensure the organisation possesses the right skills and capabilities to innovate and execute
Adoption and Scaling
Skill Development
Digital Enterprise Capabilities
Adaptive Operating Model
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Enhance organisational agility by integrating business, operations and technology together
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Improve and make data easily accessible across the organisation to enhance performance
Data Utilisation
Technology enablement
▪ Provide easy-to-use technology to enable quick innovation
Case Study: Leading Financial Institution
Background: A prominent institution recognised the need to modernise its operations and enhance customer experiences to remain competitive Implementation: ▪ Agile working: Introduced team-based working, aligning to what see in tech-based companies ▪ Improved CX: Used data & digital services to personalise experiences and enhance training ▪ Tech Upgrades: Moved to cloud, automated and digitised services Outcomes: ▪ 25% improvement in Customer Satisfaction ▪ 20% reduced Cost to Income Ratio at 34% ▪ Net profit growth of 20%
We can help with your business transformation, please get in touch today
theteam@projectone.com
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