Project Description
Digitize or not digitize? Developing high ROI strategy for the digital age
Client’s Challenge
Our client was challenged by competition coming that went digital.
The company’s management was interested in digital transformation but was worried whether the return on investment would justify the huge efforts they predicted.
Our Solution
We helped the client to identify the opportunities and threats digital transformation will bring to their industry.
We then developed a digital age strategy and conducted research that would allow us to predict ROI on digital transformation efforts.
DIGITOMIZATION team accompanied our client on a journey to understand the opportunities and challenges to their businesses that digital transformation can bring and the costs of not making necessary steps towards digitizing some of their operation customer-facing activities.
We forecasted which digital competitors and innovations can enter and dominate their market, evaluated how these competitors could change the game, mapped a path to protect the current market position, and took advantage of new business opportunities.
We remapped our client’s customer journey and introduced more optimized purchasing steps where many actions were digitized, which reduced costs associated with manual interactions.
We helped our clients see how they can evolve by aligning their business structure and processes with a future where automation and machine learning can redefine industries and reshape the workforce.
DIGITOMIZATION team then partnered with our client to attract expansion capital from a New York-based private equity fund that covered digital transformation programs and new digital product launch costs.
We helped by recruiting, onboarding, and training new staff who had necessary digital skills, and through executive coaching, we helped management implement strategies for retaining the best digital talent.
Outcomes
We ensured that our client had the knowledge and resources to achieve their strategic vision, including processes, software, talent with digital skills, and technology.
We identified 35 percent of potential annual cost savings and created a road map for digitizing services.
We packaged some of the client’s know-how and introduced it as a stand-alone digital product that allowed the service company to scale, so our client could offer a more diverse product portfolio to its clients.
We attracted $2 mln in expansion capital that ensured that digital transformation was executed with the highest ROI, and the company can rapidly scale by improving their service package portfolio, optimizing their marketing funnel and sales processes, and automating operation so the client could deliver upon increased demand on their offers.