Category: In The News

How We Used Internal Communication to Ease Digital Transformation | In the News

Research predicts that businesses will directly invest a total of $7.8 trillion into digital transformations between 2020 and 2024.

The benefits and famous success stories are the ones that inspire businesses to adopt digital technologies. But, for many businesses undergoing digital transformation, the challenges may prevail. Namely, an Everest Group study shows that 73% of digital transformation initiatives fail.

Read more in 60 Second Marketer

 

Digital Transformation Fatigue: 6 Ways to Fight It Now | In the News

The pandemic only exacerbated the risk of digital transformation burnout for teams that logged long hours to deliver critical capabilities at warp speed.

“As the IT staff moved remote, the earlier on-the-job learning and sailing through crises became tougher. IT is used to late nights, stressed working hours,” says Yugal Joshi, Vice President of digital, cloud, and application services research for Everest Group. But when everyone is working side by side, those difficulties can seem easier to bear. “In a remote model, this became a challenge and the staff couldn’t see itself as part of a bigger whole,” Joshi says. “That impacted their passion and commitment to continue serving their businesses.”

Read more in The Enterprisers Project

 

Skilling Strategies to Drive 3x ROI for Talent-focused Organizations | In the News

Exacerbated by COVID-19, the war for talent is more intense than ever. According to Everest Group, the only way enterprises can build the necessary skill base to remain competitive is to realign employee skills with emerging business needs and provide employees with opportunities for personal growth.

Easier said than done, but Everest Group has identified five best-in-class Global Business Services (GBS) organizations that are leading the way.

Read more in Future CIO

 

9 Digital Transformation Truths That the Pandemic Rewrote | In the News

The pandemic changed widely accepted beliefs about how to achieve digital transformation goals, and newly discovered truths affect everything from customer expectations to the makeup of teams.

For example, change management, legacy technology challenges, transformational risk – these became givens during the pandemic, not excuses for needing more time to beat challenges. “The pandemic was a force of nature and organizations had to react and transform,” says Yugal Joshi, Vice President of digital, cloud, and application services research for Everest Group. Organizations now realize that agility and nimbleness in responding to challenging business scenarios are key.

Read more in The Enterprisers Project

Pursuit of Knowledge and Tech Are Key Drivers in Major M&A Wave | In the News

The suspension of M&A activity in the global customer care sector seen during the unpredictability of the pandemic’s peak has come to a sudden and definite end. 

“Economic disruption always produces winners and losers, and that’s one reason behind the consolidation that’s occurring,” Shirley Hung, Vice President at Everest Group, told Nearshore Americas recently. “The landscape is extremely fragmented and it’s ripe for investment, whether it’s larger companies looking to extend their footprint more quickly or leveraging their combined scale to drive synergies.”

Read more in Nearshore Americas

Digital Transformation Metrics: 8 Counterintuitive Lessons Learned | In the News

How do you measure digital transformation success? Learn from digital transformation metrics lessons that surfaced during the pandemic.

As organizations emerge from the frenzy of pandemic-fueled changes, those measures of success (and the way they are applied) may need to change. “IT leaders need to rethink [these metrics] now, otherwise they will equate their panic reaction and survival using digital tech a win,” says Yugal Joshi, Vice President of digital, cloud, and application services research for Everest Group. “This will be problematic going forward.”

Read more in The Enterprises Project

Why Banks and Fintechs Need to Be Strategic with Digital Transformations | In the News

There are many reasons why digital transformation (DX) shortfalls occur, painful lessons many in fintech know all too well. A significant one is companies not understanding their needs or what the technology can offer.

According to a study from Everest Group, 73% of enterprises’ digital transformation efforts have failed to provide any business value. Yet, there’s an overwhelming agreement by analysts on its necessity.

Read more in Fintech Futures

 

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