Digital Transformation Leads to Better Business Performance
Digital World Class™ companies typically employ 37% fewer full-time equivalents, and enjoy 29% lower overall general and administrative costs than their peers. They achieve nearly 2X net margin and return on investment (ROI) and total shareholder return close to 1.5X, on average, if even one of their business services has undergone digital transformation.
Digital transformation calls for getting many factors right
Companies that have made the digital transformation journey are more likely to enjoy faster decision-making than others, along with increased agility, greater customer intimacy and higher revenue growth.
But it takes more than the right technology. Let our deep knowledge of best practices and digital expertise, combined with our hands-on experience, guide your company through your journey.
Your digital transformation journey needs a guide
Advancing toward digital transformation requires planning simultaneous changes to your business model, your core technology capabilities and your workforce. The Hackett Group helps your company identify needs and potential benefits, develop strategies, and turn plans into action through a number of proprietary solutions.
Sizing Up the Finance Digital World Class™ Advantage
A new set of disruptors – geopolitical risks, talent challenges and the inflationary environment – threatens business stability and performance. These developments require a robust enterprise-level response, with the finance function playing a key role.
Digital transformation is the No. 1 priority for 2022: 61% of companies – up from 53% in 2021 – have a major initiative planned for their GBS functions.
Source: Key Issues 2022, The Hackett Group
Why choose The Hackett Group?
Insight from analyzing our in-depth benchmarking repository allows us to expedite your transformation. You benefit from practices that run the world’s best businesses, rather than individual experience.
We’ve quantified business value – calculated using our unmatched benchmarking data – and correlated business practices with superior performance, allowing us to pinpoint the best opportunities for performance gains.
We know how to enable peak performance and can help select the best technology or platform, and implement solutions that accelerate measurable value and achieve business goals.
Leverage our proprietary enablement tools and Business Excelleration® resources – based on our unique intellectual capital – to chart your improvement course, monitor process and quantify value.
Exclusive assets to fuel your digital transformation journey
Leverage our proprietary enablement tools and Business Excelleration resources – based on our unique intellectual capital – to chart your improvement course, monitor process and quantify value.
Digital Transformation Platform
Speed digital transformations in finance, human resources, procurement and supply chain functions with this suite of resources.
Automate the benchmarking and management of continuous improvement initiatives.
Clients who benchmarked more than once in a four-year period saw an 8.2% reduction in reported SG&A costs.
The time for digital transformation is now
The business environment continues to be buffeted by economic and geopolitical disruption. The best response is to devise strategies leading to a strong, sustainable future for your company, which leaders agree calls for digital transformation. To turn strategy into action, follow our four-step process:
During this phase, our unparalleled benchmarking tools allow your company to compare itself to Digital World Class companies. We can evaluate functions, processes, best practices, staff skills and your technology stack, so you know what areas need attention.
Evaluating the talent needed to carry out a successful digital transformation can identify any skills gaps and help management decide what talent gaps to fill, as well as which activities can be managed in-house and which may need to be outsourced.
You can also learn how digital transformation will affect your interactions with customers, so that throughout your journey you can ensure their experience is optimal across every channel and touchpoint.
Our Digital Initiative Value Analytics (DIVA) approach is designed to analyze the cost, benefits and return on potential initiatives for business services – providing a stringent, data-driven means of prioritizing and segmenting your company’s digital transformation project portfolio.
In addition to skills in deploying and using digital technologies, flexibility and agility are characteristics Digital World Class companies look for in their workforce. We can help you envision yours.
To become Digital World Class may require adding or upgrading technologies. We have the experience to help with that. Our partner relationships with Oracle, SAP, OneStream and other technology providers allow us to deliver services and solutions to help your company achieve value from the digital transformation process.
In addition, our knowledge of proven best practices means that your organization can immediately realize the benefits of significant cost reduction and performance improvements when you begin the digital transformation of your enterprise applications – whether on-premises or in the cloud.
Change management, a critical component of any digital transformation, is built into all our frameworks and tool sets. In addition, people often need to develop new skills. The Hackett Institute® provides skills development courses using a next-generation e-learning platform.
Leading companies continue to search for ways to improve on their digital transformation achievements. That’s a best practice your company will want to follow, too.
For example, Digital World Class companies are 3X more likely to use advanced analytics. This enables them to meet or exceed ROI targets on more of their projects, be more successful at bringing innovations to market and achieve higher revenue growth.
Our Business Best Practices Intelligence Center™ is the world’s largest searchable online repository of empirically proven business best practices, performance metrics, implementation tools, and associated Hackett research and events. And it can be available at your fingertips.
There’s No Reason to Delay Your Digital Transformation – and Every Reason to Act
Digital World Class companies have raised the bar, strengthening their ability to compete even amid disruption. Digital transformation will be key to global business services (GBS) teams delivering performance improvements and adding value to the enterprise, so it’s critical for companies that have started their journey to sustain momentum. And for companies that have held off doing so – to carefully evaluate potential opportunities and invest wisely in seizing them.