Key Components for Successful Business Transformation . As this becomes our reality, for CEO’s understanding how these new technologies fit into business operations is sometimes tricky to envision. Our article on Why a data driven business is more likely to succeed through the digital age. They have created opportunities while transforming with digital capability throughout their organisation, adapting to change with inspiration, energy and drive, and this is what set them apart. Let’s take a look at some of the organisations IBM have helped. We will put greater emphasis on making our existing stores even better and taking the opportunity to renew and reinvent our business in a way that is inspired by our history, culture and values. We know that the data revolution is here and so focusing your business needs and approaching business with a data-centric approach is the way forward. Accurate, high-quality data is the critical foundation for engaging customers digitally. Your email address will not be published. Successful change necessitates generating quantities of extra energy throughout an organization to keep the enterprise performing while it develops the skills and capabilities it needs for the future. But opting out of some of these cookies may have an effect on your browsing experience. However, digital transformation takes on different forms, depending on the industry, and encompasses unique business challenges and goals. In 2014, Tele2 (Netherlands) wanted to accelerate the launch of a new mobile business with a capital cost of £150 million. Rising to what the consumer needs are the focus and re-thinking business operations is key to transformation. We use this information in order to improve and customise your browsing experience and to personalize ads and for analytics and metrics about our visitors both on this website and other media. For example, when leaders ensure that frontline staff members feel a sense of ownership, the results show a 70 percent success rate for transformations. As of July 2019, it sells for around $74. Best Buy started 2012 with a stock price of $23.70. In this article, you will learn about six inspirational examples of digital transformation companies that you can learn from. Digital transformation and new business models. If consumers have an abundance of accessible technology in their pockets, then surely retailers should be looking to create interactive digital experiences seamlessly connecting online and offline touch-points. Some examples of business transformation that we cover include organisations like IKEA, Nike, McDonald’s, to name a few. Business Transformation Consultant Resume Samples and examples of curated bullet points for your resume to help you get an interview. 3.Digital Transformation will often fail with the existing culture. You can scan and go using the app or speak with an associate, and if it’s that easy, then you’ll keep going back for more convenient shopping. Fortunately, you can take steps right now to first transform your workforce and then your business. McDonald’s has recognized a massive shift in consumer behavior and they are trying to adapt by digitally transforming their restaurant experience and company processes. A data-driven focus to enable a personalised consumer experience, in turn, resulting in consumer loyalty. This website stores cookies on your computer. Digital Transformation will often fail with the existing culture. McDonald’s. —Brian Krzanich, Intel Chief Executive Officer. Simon Martin discusses ways to successfully transform your business. BNP Paribas, an investment bank, is transforming digitally to improve operational efficiencies, by doing so, leveraging IBM cloud for their data centres, they provide capabilities for speed, agility and scalability, without compromising security and confidentiality of their consumer data. You can read the IKEA press release here. Typically, the future of the business depends on their success. At the same time, we recognise that the retail landscape is transforming at a scale and pace we’ve never seen before. Why Exceptional Leadership Matters in Digital and Business Transformation. Embracing digital transformation is key to survival in today's business world. Tele2 (Netherlands) B.V. 1. McDonald’s business transformation includes modernising restaurants driven by technology and increasing consumer engagement through digital by way of loyalty initiatives. You also have the option to opt-out of these cookies. Digital has become a way of life. A new radio plan – reducing time and complexity, Launch plans developed for business and consumer markets, 10.9% rise in gross income to EUR 23.68 billion for 2015, 19% year-on-year increase in customers (14.8 million by 2015), interacting through online and mobile channels, 19.2% of new consumer credits in Spain were sold through digital channels. Knowing what the consumers want and delivering on that is essential for any business to survive, let alone thrive. Here are five company examples that show successful transformations, across a range of industries and locations. Digital transformation is key to the survival of many companies, yet digital transformations are tough and frequently fail. by The RIQ News Desk . These transformations help organizations compete more effectively, become more efficient, or make a wholesale strategic pivot. Business transformation is a common term for a dramatic program of change that typically involves everyone in an organization. Nike; Disney; Microsoft; General Electric; DHL; Best Buy; 1. To give you a better understanding of what real 'Digital Transformation" looks like, here are 5 real businesses that leveraged new technologies to digitally transform and evolve their business. IBM 2018 Annual Report can be found here. Below we highlight 5 examples of successful business transformation programs. Business Transformation Consultant Resume Samples and examples of curated bullet points for your resume to help you get an interview. Here are six examples of digital transformation from brands that can inspire you. Intel, the world leader in manufacturing and design, with a vision “if it smart and connected then it’s best with Intel” moved from a pc-centric company to a data-centric organisation and as a data-driven business increased their operational efficiencies and have become a growing company. Next, Pizza Express has embarked on their journey of transformation. Examples of Business Transformation including Nike, McDonald’s and Pizza Express can be found in this Business Transformation Examples; Success Stories With this in mind, all the components i.e. They’re awkward and expensive, demanding complex, high-speed interactions between internal functions and major suppliers. Manhattan is the most densely populated county, placing high demand on transport infrastructure. Consumers gain a shopping experience in store while connecting to the Nike app while creating more of a personalised experience for the consumer creating memorable experiences. More often, it's an attempt to cope with change that has already occurred. 4.Why it matters to leverage Artificial Intelligence for business transformation. Some examples of business transformation that we cover include organisations like IKEA, Nike, McDonald’s, to name a few. By doubling its systems investments from $1.2 billion in 2011 to $2.4 billion by 2013 and in spending a reported $951 million on IT, BBVA was able to achieve: In 2014, York City Council was dissatisfied with the level of connectivity available to its schools and council offices. IKEA has been very good at adapting and innovating for its customer base, adding value. Actually, change programmes are most successful when, as a result of external factors, there’s a shared sense of urgency to deliver tangible change. Buzzwords like AI and machine learning are not just a hype, and becomes our reality. These include applying new technologies, focusing on solutions, and leveraging data. Engaging employees. Business transformation programs come up for one of two reasons: they either solve a problem or exploit an opportunity. Speaking in business outcomes can feel like a foreign language to many technically minded individuals. To help ease translation, we curate a set of business outcome examples. Like IKEA, they too are very good at adapting to change and creating consumer personalisation and unforgettable immersive experiences. With Mentor’s help, Tele2 (Netherlands) were able to achieve: In 2007, BBVA faced changing customer expectations, and  industry disruption from new entrants, meaning BBVA had to adapt and evolve its financial offering. They are utilising technology to its full potential to drive and engage consumers to their brand. The training was key to staff to understand why consumers choose what they do and the ethics involved to follow through strictly. After investing €10 million the new contract service platform ‘Kloeckner Connect’ and new B2B webshop launched in March 2016, achieving: Copyright © 2019 Mentor Europe Associates Ltd. All rights reserved. By focusing and offering AI, data, analytics and cyber-security to organisations, IBM’s position in the market, as a leading provider of advanced technology services and solutions accounts for approximately $40 billion in revenue in 2018, with IDC ranking IBM number 1 in the market share. Our first business transformation example is IKEA. Business transformation is an umbrella term for making fundamental changes in how a business or organization runs. KPMG is also using IBM technology, technology a contract analysis application to long breakdown contracts. We’ve discovered that generally, business transformation is triggered by shifting markets and competition. Also, Pizza Express’s “The piccolo game” allowed children to interact with Pizza Express through augmented reality. 5 examples of successful internal communication; Gamelearn Leads the Digital Transformation of Talent Management in Next Generation Learning; Banesco consolidates its digital transformation thanks to game-based learning; Business Coaching: Know the Benefits 'Lean Startup' Can Offer your Business This website uses cookies to improve your experience while you navigate through the website. A typical example, challenges and rewards incentivised its employees to increase speed and agility during breakfast through their drive-thru. The digital transformation changed markets in a fundamental way. Strong leadership and maintaining energy for change among employees are two principles of success that reinforce each other when executed well. Digital Transformation in the Enterprise 1. The Nike Plus membership app does this well. Digital and business transformation is a journey and an iterative one with continuous change. For example, according to a DMG Consulting report , the Cloud-Based Contact Center Infrastructure (CBCCI) market has increased its number of seats by 20.1% between 2017 and 2018. Researching into and tapping into the markets using technology also played a big part in Pizza Express’s marketing communications using digital. For example, they began installing kiosks where customers can quickly customize their hamburgers. Digital transformation can be disruptive, however, the training for it shouldn’t be. Jesper Brodin, Chief Executive Officer, Ingka Group, says: “We continue to grow and perform strongly. Get in touch: www.modernwaysofworking.com/contact. Reading contracts with AI makes it much easier and quicker to get through lengthy, detailed agreements. So digital transformation is proving to be a challenging journey; however, if delivered and planned correctly, can prove to provide sustainable growth for an organisation. The service has improved by using mobile app technology by streamlining communications within the organisation through different time-zones. As a result, increasing consumer loyalty and frequency. Whatever motivates a leadership team to embark on strategic transformation, it’s often easier in the short term not to undertake the challenge (or delay the decision for just one more year), which is why stories of successful corporate change efforts are so rare. A winning strategy and a viable economic and organizational structure must underpin any transformation effort. Launching the first vegan menu in light of the media attention to allergies had allowed Pizza Express to experiment with new recipes. These cookies will be stored in your browser only with your consent. United Airlines undergoes business transformation with the help of IBM. They are using a mobile app to report flight issues which report to the ground crew immediately. Nike is an excellent example of engaging consumers online and offline through their store and their products, and so is IKEA; both cases we will be covering in this post. Staying relevant and innovating is the key to success. It’s transform or wither in today’s business environment, with multiple transformation triggers creating strong pressure simultaneously. With this in mind, your business, not only should you have a website that offers immersive experiences but also have a mobile app, engaging the consumer to your brand. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are as essential for the working of basic functionalities of the website. It’s all based on a spirit of togetherness and enthusiasm, and we will continue to transform with that spirit.”. We’ll cover successful business transformations in brands that we know. 1.Why Exceptional Leadership Matters in Digital and Business Transformation. Our first business transformation example is IKEA. As customer behaviours change rapidly, we are investing and developing our business to meet their needs in better and new ways. Find out how these companies succeeded where others failed. Nike leaders in retail technology. Some entrepreneurs and corporate managers, when they think of digital transformation, end up getting ahead of themselves. Of these 30% were successful, 40% partly so … The impact of digital transformation in the insurance industry is similar to our other examples in that consumer expectations are driving change. Polaris As consumer demands are shifting, along with uncertain markets organisations need to be quick off the mark, in delivering change and transformation to survive in a continually changing world. Best Buy’s digital transformation hasn’t been without hiccups, but the results are starting to show. Encountering challenges on the way and learning throughout the process is fundamental to a successful business and digital transformation. As the wave of digital business transformation hits most, if not all organisations, changing landscapes, advancing technology, shifting and emerging markets, knowing, precisely what transformation is and having a vision can become unclear unless you have a digital strategy. To learn about how we have helped organisations with business transformation examples visit: www.modernwaysofworking.com/insights. Three core strategies are used to achieve meaningful business transformation. Events like Mother’s day were taken advantage of by using digital and generating over 1.1m views for their mothers day video, across a range of digital channels. IBM too, have transformed their business. But Nike continue to strive forward taking risks at the same time. This category only includes cookies that ensures basic functionalities and security features of the website. You can use the following examples to inspire and demonstrate business outcomes that are based on actual transformation journeys. Companies like Nike, Dominos, IKEA all adopted digital strategies to meet customer expectations and stay ahead of the competition. Riyad Bank’s Enterprise Business Intelligence Competency Center 114 E.SUN Bank’s Customer Risk Value Organization 118 Success Story Takeaways 120 Applying the Lessons from E.SUN and Riyad 121 The Most Important Characteristics of Successful Business Transformation Strategies 121 A Step-by-Step Look at the Key Components 122 If you are about embarking on your business transformation and need some, then our consultants can offer advice and expertise. They determine that an innovative technology – big data, or artificial intelligence, for example – is the flavor of the month and they look for ways to implement it in their business. They’re awkward and expensive, demanding complex, high-speed interactions between internal functions and major suppliers. Again, like the above examples of business transformation, quickly adapting to change, to shifting markets and consumer demands, McDonald’s strives to stay relevant and transform to the growing needs of the market. Spending approximately £20 million, York City Council was able to achieve: In 2007, New York experienced a rate of population growth not seen since the 1920s. To learn about how we have helped organisations with business transformation examples visit: www.modernwaysofworking.com/insights. Our values guide our work and build our inclusive, open and honest culture. Teams are the key building blocks. As a consequence, IKEA announced it’s next steps of transformation. Pizza Express created a global innovation centre in London for new concepts and brand creatives. Pizza Express had a 7% increase in traffic to their website and a 17% increase in bookings for Mother’s Day. 4 digital transformation success stories Ocean Spray, The San Francisco 49ers and Anheuser-Busch InBev are among the companies are steering digital initiatives to drive business … These cookies do not store any personal information. Talktalk, alongside partners Sky and CityFibre, chose York as the first UK city to deploy its Ultra Fibre Optic Broadband. Save my name, email, and website in this browser for the next time I comment. VF’s Growth Transformation Creates Strong Value for Investors Value creation is a powerful lens for identifying the initiatives that will have the greatest impact on a company’s transformation agenda and for understanding the potential value of the overall program for shareholders. 6 Digital Transformation Examples. We also use third-party cookies that help us analyze and understand how you use this website. Why it matters to leverage Artificial Intelligence for business transformation. Let’s take Nike as our next business transformation example. They are often adopted independently, but many companies are employing all three as they work to increase the value they deliver. In this post, we’ll review 5 digital transformation examples from industrial enterprises making big changes and seeing incredible results. We are the digital consumer having information at our fingertips at all times. Brands like Nike so too struggle to be quick off the mark to keep up with the latest trending consumer demands and this poses a risk to their organisation. IBM 2018 Annual Report can be found here. There are many digital transformation examples of small to large scale businesses that will help you to understand digital transformation. IKEA’s focus is digitisation and customer convenience. Since then, there sustained growth has been over several years of business transformation. Helping organisations like United Airlines, KPMG and BNP Paribas, to name a few with their digital and business transformation IBM can deliver the results of a successful business transformation programme. The first step in any successful digital transformation is to embrace the cloud and what it can do for your organization. Follow in their footsteps to digitally transform your business. In Mexico this figure was 29.6%, Redefined organisational structures to nurture change and innovation, 2,400+ customers signing up to the service with TalkTalk and Sky since the beginning of 2016, York placed as one of the top digital infrastructure cities in the UK, Broadband speeds up to 100x faster than the UK average, Programme to be expanded to cover 40,000 more premises by 2019, Estimated 2000,000 use the line on an average weekday, Extra lifts and escalators for people with mobility problems, 500+ customers onboarded in Germany, Austria and Hungary within 3 months of launch, Increase in digitally managed revenue to more than 50%, Net Working Capital reduced by almost €200 million (35%+ drop), New innovation process established – lean, agile, customer-centric. 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