Necessary cookies are absolutely essential for the website to function properly. At the same time, we recognise that the retail landscape is transforming at a scale and pace we’ve never seen before. Staying relevant and innovating is the key to success. Companies like Nike, Dominos, IKEA all adopted digital strategies to meet customer expectations and stay ahead of the competition. Best Buy started 2012 with a stock price of $23.70. Simon Martin discusses ways to successfully transform your business. Actually, change programmes are most successful when, as a result of external factors, there’s a shared sense of urgency to deliver tangible change. Below we highlight 5 examples of successful business transformation programs. Why a data driven business is more likely to succeed through the digital age. Next, Pizza Express has embarked on their journey of transformation. 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. This website uses cookies to improve your experience while you navigate through the website. To learn about how we have helped organisations with business transformation examples visit: www.modernwaysofworking.com/insights. As customer behaviours change rapidly, we are investing and developing our business to meet their needs in better and new ways. In developing the BTM methodology, we carried out 13 case studies of different types of business transformation in large European corporations. IBM 2018 Annual Report can be found here. Since then, there sustained growth has been over several years of business transformation. In summary, all of the business transformation examples we have seen, organisations are adapting rapidly to shifting trends and markets. Why it matters to leverage Artificial Intelligence for business transformation. Digital and business transformation is a journey and an iterative one with continuous change. Some entrepreneurs and corporate managers, when they think of digital transformation, end up getting ahead of themselves. The shift in becoming a data-driven business to address the increasing needs of the market, creating a wealth of business opportunities, and positioning themselves in the market to be the leaders on data-driven solutions. by The RIQ News Desk . 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. 2.Why a data driven business is more likely to succeed through the digital age. Encountering challenges on the way and learning throughout the process is fundamental to a successful business and digital transformation. Our article on Why a data driven business is more likely to succeed through the digital age. Reading contracts with AI makes it much easier and quicker to get through lengthy, detailed agreements. Here are six examples of digital transformation from brands that can inspire you. Find out how these companies succeeded where others failed. But Nike continue to strive forward taking risks at the same time. 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. According to IBM’s 2018 annual report, IBM achieved $79.6 billion in revenue and operating earnings per share of $13.81 in 2018. 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. IBM too, have transformed their business. Mobile Network Operator Launch As this becomes our reality, for CEO’s understanding how these new technologies fit into business operations is sometimes tricky to envision. Our values guide our work and build our inclusive, open and honest culture. 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. This category only includes cookies that ensures basic functionalities and security features of the website. 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. 1. 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. These transformations help organizations compete more effectively, become more efficient, or make a wholesale strategic pivot. Why Exceptional Leadership Matters in Digital and Business Transformation. Data, partners, and leadership is critical to customer engagement says Forbes Insights Report . Over the next ten years the city invested $4.5 billion in the Second Avenue Subway system, achieving: In 2014, the manufacturing industry was characterised by steel supply chain inefficiency – typified by long delivery times, incorrect delivery times, high inventory levels. Get in touch: www.modernwaysofworking.com/contact. 1. Our first business transformation example is IKEA. 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. Engaging employees. Speaking in business outcomes can feel like a foreign language to many technically minded individuals. Business Transformation Consultant Resume Samples and examples of curated bullet points for your resume to help you get an interview. 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. 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. Tele2 (Netherlands) B.V. Digital transformation can be disruptive, however, the training for it shouldn’t be. There are many digital transformation examples of small to large scale businesses that will help you to understand digital transformation. 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. 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. Digital Transformation in the Enterprise 1. IKEA’s business transformation was triggered by shifting markets with IKEA’s profits falling. 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. Three core strategies are used to achieve meaningful business transformation. A data-driven focus to enable a personalised consumer experience, in turn, resulting in consumer loyalty. Some examples of business transformation that we cover include organisations like IKEA, Nike, McDonald’s, to name a few. Talktalk, alongside partners Sky and CityFibre, chose York as the first UK city to deploy its Ultra Fibre Optic Broadband. A winning strategy and a viable economic and organizational structure must underpin any transformation effort. This website stores cookies on your computer. Polaris These include applying new technologies, focusing on solutions, and leveraging data. 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. 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. The Nike Plus membership app does this well. It’s transform or wither in today’s business environment, with multiple transformation triggers creating strong pressure simultaneously. Our first business transformation example is IKEA. IKEA has been very good at adapting and innovating for its customer base, adding value. 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. 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. Also, Pizza Express’s “The piccolo game” allowed children to interact with Pizza Express through augmented reality. They’re awkward and expensive, demanding complex, high-speed interactions between internal functions and major suppliers. IBM 2018 Annual Report can be found here. Business transformation requires research, experimenting and testing. KPMG is also using IBM technology, technology a contract analysis application to long breakdown contracts. 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. More often, it's an attempt to cope with change that has already occurred. The first step in any successful digital transformation is to embrace the cloud and what it can do for your organization. Allowing for advanced technologies, AI, machine learning and data. As well as their consumers, McDonald’s drive initiatives for their employees. —Brian Krzanich, Intel Chief Executive Officer. Like IKEA, they too are very good at adapting to change and creating consumer personalisation and unforgettable immersive experiences. For example, they began installing kiosks where customers can quickly customize their hamburgers. 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. 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. The service has improved by using mobile app technology by streamlining communications within the organisation through different time-zones. Every organisation needs to manage the challenges of digital transformation. 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. 5 excellent examples of successful transformation programs. You can use the following examples to inspire and demonstrate business outcomes that are based on actual transformation journeys. Knowing what the consumers want and delivering on that is essential for any business to survive, let alone thrive. Vodafone, a 5G network provider, is working with IBM to deliver on new integrated solutions to improve consumer experiences from a data-driven approach. To learn about how we have helped organisations with business transformation examples visit: www.modernwaysofworking.com/insights. Here are five company examples that show successful transformations, across a range of industries and locations. In this article, you will learn about six inspirational examples of digital transformation companies that you can learn from. Like Nike’s membership app, McDonald’s too are focusing on consumer loyalty. 3.Digital Transformation will often fail with the existing culture. In 2014, Tele2 (Netherlands) wanted to accelerate the launch of a new mobile business with a capital cost of £150 million. 6 Digital Transformation Examples. McDonalds offers a new shopping experience to it’s customers adding value by offering personalised service. Pizza Express had a 7% increase in traffic to their website and a 17% increase in bookings for Mother’s Day. As of July 2019, it sells for around $74. 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. At its best, business transformation is a move to own the change that is sweeping an industry. You also have the option to opt-out of these cookies. This includes personnel, processes, and technology. McDonald’s. 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. Shaping and, “Intel’s strategy is to provide the technological foundation of the new data world.”. Save my name, email, and website in this browser for the next time I comment. You can read the IKEA press release here. Digital has become a way of life. Business transformation programs come up for one of two reasons: they either solve a problem or exploit an opportunity. 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. Digital transformation and new business models. As a result, increasing consumer loyalty and frequency. Your email address will not be published. Pizza Express created a global innovation centre in London for new concepts and brand creatives. They’re awkward and expensive, demanding complex, high-speed interactions between internal functions and major suppliers. 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. Typically, the future of the business depends on their success. Business transformation is an umbrella term for making fundamental changes in how a business or organization runs. In this post, we’ll review 5 digital transformation examples from industrial enterprises making big changes and seeing incredible results. people, processes and technology of a business transformation programme need to be addressed to enable a sustained successful transformation programme. Business Transformation Consultant Resume Samples and examples of curated bullet points for your resume to help you get an interview. A typical example, challenges and rewards incentivised its employees to increase speed and agility during breakfast through their drive-thru. 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. They are often adopted independently, but many companies are employing all three as they work to increase the value they deliver. To help ease translation, we curate a set of business outcome examples. Let’s take Nike as our next business transformation example. Below we highlight 5 examples of successful business transformation programs. 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. Typically, the future of the business depends on their success. However, digital transformation takes on different forms, depending on the industry, and encompasses unique business challenges and goals. We also use third-party cookies that help us analyze and understand how you use this website. We’ll cover successful business transformations in brands that we know. Examples of digital transformation success stories: Five companies that shine ... AmerisourceBergen realized early on in their journey that business transformation can only be successful when a culture of innovation is established across the entire organization. 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. Nike leaders in retail technology. 1.Why Exceptional Leadership Matters in Digital and Business Transformation. 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. Business transformation is a common term for a dramatic program of change that typically involves everyone in an organization. As a consequence, IKEA announced it’s next steps of transformation. Follow in their footsteps to digitally transform your business. Researching into and tapping into the markets using technology also played a big part in Pizza Express’s marketing communications using digital. Our research shows that experimenting, researching and testing is key to successful digital transformation. Digital Transformation is a concept that varies by industry, vertical, company and the availability of technology, so it's not easily understood nor is there one example of digital transformations. Some examples of business transformation that we cover include organisations like IKEA, Nike, McDonald’s, to name a few. But opting out of some of these cookies may have an effect on your browsing experience. Accurate, high-quality data is the critical foundation for engaging customers digitally. The training was key to staff to understand why consumers choose what they do and the ethics involved to follow through strictly. The digital transformation changed markets in a fundamental way. Embracing digital transformation is key to survival in today's business world. These cookies will be stored in your browser only with your consent. Buzzwords like AI and machine learning are not just a hype, and becomes our reality. 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 Digital transformation is key to the survival of many companies, yet digital transformations are tough and frequently fail. Rising to what the consumer needs are the focus and re-thinking business operations is key to transformation. IKEA’s focus is digitisation and customer convenience. Therefore, today it is absolutely essential to put your business model and its mechanics to the test. They are utilising technology to its full potential to drive and engage consumers to their brand. Digital Transformation will often fail with the existing culture. 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 Key Components for Successful Business Transformation . United Airlines undergoes business transformation with the help of IBM. 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. 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 … For example, when leaders ensure that frontline staff members feel a sense of ownership, the results show a 70 percent success rate for transformations. Successful digital transformation requires an agile workforce that is ready to change, reskill and upskill. Strong leadership and maintaining energy for change among employees are two principles of success that reinforce each other when executed well. If you are about embarking on your business transformation and need some, then our consultants can offer advice and expertise. Fortunately, you can take steps right now to first transform your workforce and then your business. McDonald’s business transformation includes modernising restaurants driven by technology and increasing consumer engagement through digital by way of loyalty initiatives. 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. They are using a mobile app to report flight issues which report to the ground crew immediately. Of these 30% were successful, 40% partly so … Jesper Brodin, Chief Executive Officer, Ingka Group, says: “We continue to grow and perform strongly. Let’s take a look at some of the organisations IBM have helped. 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. These cookies are used to collect information about how you interact with our website and allow us to remember you.