Retail businesses are undergoing huge change in light of ever increasing pressure and competition. Whether it’s their supply chain logistics, customer experience or their merchandising, retailers are increasingly turning to digital transformation processes to drive efficiency, accuracy and quality throughout their business in an attempt to become smarter, faster and more robust in the face of the pressure.
Yet, according to Oxford Economics, only 3% of retailers have successfully completed a digital transformation process, even though mastering digital strategies has been shown to provide revenue boosts in excess of 15%.
We apply a methodical and systematic approach to digital transformation projects, identifying areas of operation that are strong candidates for transformation, particularly where a lack of process or efficiency are highlighted. Our planning and technology teams set to work planning and proposing solutions, which our design and development team work into real-world pilots, where they’re validated, often in real-time, by our researchers. Successful pilots then head into the production environment, where they introduce the efficiencies they were set out to achieve.
Our four-step approach is different to most:
Our most successful digital transformation projects have been those that drive change that impact and empower the customer as early as possible in the process. Taking a branch-and-leaf approach, starting with the customer, allows a faster return on investment and improved revenue, that often supplements the cost of larger-scale digital transformation projects as the progress to internal operations and through to supplier and partner operations.
Truly successful digital transformation projects separate long-term strategy from the iterative process of piloting change, but ensure that the strategy is driven to completion. When we develop a digital transformation strategy, it’s important to always understand the length of the project roadmap – sometimes one or even two years. Whilst small iterative changes will often have micro-impacts, it’s only when the complete strategy is followed to completion that the compound effect of those changes can be truly realised. Many a digital transformation project has failed when, following a series of successful projects, the long-term strategy deviates or becomes convoluted.
It’s important throughout the discovery phase of a digital transformation project, that preconceived ideas and biases are left at the door, and that data-driven decision making takes the lead. Our team will probe the business to understand the opportunities, and in doing so, will often find deep-set problems. Our expert technologists are tasked to challenge everything in the business objectively, and it’s through this process we successfully drive change in your organisation.
Whether you’re looking to improve your supply chain automation, better understand your customers or optimise your internal operations, our Digital Transformations team can help.