Digital Transformation

Part
01
of one
Part
01

Digital Transformation

The top three pillars of digital transformation as understood by Fortune 100 companies include data analytics and insights, customer experience, and digital workplace. The top pillars of digital transformation in the banking industry also revolved around these three factors. Thereby, the top pillars when considering financial services or asset management companies were found to be similar to other industries.

Top pillars of digital transformation as understood by Fortune 100 companies

1. Data analytics and insights

2. Customer experience

  • Customer experience is the foundation of digital transformation.
  • A company’s digital transformation strategy should map the customer journey based on its culture.
  • Amazon focused on reducing its customer service call waiting times to enhance its customer experience.
  • Customer experience is considered to be a top pillar since it has been mentioned in the digital transformation strategies for Microsoft, Cisco, and Volkswagen.

3. Digital workplace

  • A digital workplace enables effective real-time business operations.
  • Innovative, mobile, and digital workplace capabilities allow collaborators and customers to benefit from information in the most efficient way.
  • Digital workplace is considered to be a top pillar since it has been mentioned in the digital transformation strategies for ATOS, Cisco, and Volkswagen.

RESEARCH STRATEGY

We started our research by directly look for white papers and surveys published by leading consulting firms focusing on the top pillars of digital transformation as understood by Fortune 100 companies. We came across numerous publications by leading firms, such as Bain and Co., Gartner, McKinsey, and Think with Google that provided the top pillars of digital transformation in general, however, none of the white papers or surveys were specific to Fortune 100 or Fortune 500 companies.

Since we did not find relevant information from industry publications, we expanded our search to media platforms such as Fortune and Forbes. The idea here was to identify any common or top pillars that were mentioned by industry experts from Fortune 100 or 500 companies. We found various examples including but not limited to Huawei, SAP, and CIS. However, nothing specific could be found related to Fortune 100 or Fortune 500 companies.

Since we could not find publicly available information, we searched for Fortune 100 companies and their digital transformation strategies. We came across the digital transformation strategies for ATOS, Microsoft, Cisco, and Volkswagen. After carefully examining the pillars highlighted in each of these strategies, we identified three that were the most mentioned.


Sources
Sources

Quotes
  • "Ouriel Lancry, who coleads Bain's Global Digital practice, explains the four pillars of digital transformation—digital strategy, business model, enablers and orchestration."
Quotes
  • "Orchestrated hybrid cloud: business digitization with a cloud strategy, the foundation to the technologies and practices which underpin transformation, including mobility, analytics, cognitive and the internet-of-things."
  • "Atos Business Accelerators: a roadmap for evolving to a digital enterprise in partnership with SAP HANA, a seamless platform for effective real-time business."
  • "Atos Codex: transforming data into business outcomes with business-driven analytics, cognitive and IoT."
  • "Atos Digital Workplace: innovative, mobile and digital workplace capabilities allowing collaborators and customers to benefit from information in the most efficient way."
Quotes
  • "He says we really can't and we really shouldn't get excited about our technology, we should only get excited about the success that our customers have with our technology and that brings me back to the four pillars of digital transformation. "
  • "We like to describe it as we work with our clients to 1) engage their customers 2) to empower their employees 3) to optimize their operations and 4) then transform their products."
Quotes
  • "Cisco explained how its approach to digital marketing rests on five pillars: customer experience, compelling content, analytics and insight, performance marketing, and automation and technology."
Quotes
  • "Volkswagen Brazil is moving forward with a digital transformation plan to transform client and staff experience, with data analytics and artificial intelligence as key pillars."
Quotes
  • "Reinvent the consumer journey"
  • "Leverage the power of data"
  • "Redefine the operating model"
  • "Build a digital driven organization"
Quotes
  • "Modernization of banks"
  • "Digitizing customer experience with Big Data"
  • "Leveraging technology to reinvent banking business"
  • "Cloud banking"