Worldwide spending on digital transformation technologies is expected to touch $1.3 trillion this year – an increase of 16.8 per cent over the $1.1 trillion spent in 2017. International Data Corporation (IDC) predictsthat 40 percent of all technology spending will go towards digital transformation. By 2021, digital transformation spending is expected to be more than $2.1 trillion. However, close to 70% of the $1.3 trillion invested in DT projects will not “reach their stated goals.”
To deliver business efficiency and top-line revenue growth, enterprises today need to seek inspiration from the digital transformation success stories around them. Here are three interesting case studies from Suyati that showcase how digitally-savvy organizations across sectors are embracing innovation to stay ahead of the competition.
Case study 1: How to optimize the delivery process to boost ROI
A leading wholesale distributor of liquid fuels in Japan wantedto explore digital transformation solutions to optimize the order-delivery chain. Their target market for more than 40 years has been petroleum and petroleum products’ deliveries to construction sites in Tokyo and surrounding regions.
Despite the lack of direct competition in the space, the company failed to gain rapid operational advantages. From inconsistent deliveries that resulted in poor customer feedback to difficultiesin locating the exact point of delivery in massive construction sites and constant phone calls from call centers/customers that distracted drivers while on the road, the roadblocks were many.
When the company approached Suyati for a digital solution, the first step was to revisit the enterprise’s mobile application for customers and drivers. Once itprovided real-time notification on the order delivery status as well as streamlinedthe procedure in distress cases (such as undelivered orders), most pain points – of the customeras well as thedriver – were solved.
From increased ROI, enhanced efficiency and scalability to improved customer engagement, employee satisfactionand implementation of microservices architecture, the results of digital transformation efforts for the Japan-based company have been incredible.
Next on the agenda is tocompletely integrate the client’s ERP system with Suyati’s system so that order placement and scheduling of orders are synced and faster. In time, customers will be able to place orders via customer apps and also schedule orders into the system.
Case Study 2:How to develop omnichannel presence to tap new markets
A leading seafood supplier, on recognizing the growing needs of the millennial demographic, was keen to develop an omnichannel presence. The companywanted to utilize novel technologies for scaling new heights in the business and become the best online seller of frozen seafood.
The biggest challenge was procuring and delivering high-quality seafood. Due to the perishable nature of the products, maintenance of cold chain from procurement to delivery was imperative. However, lack of an optimized delivery chain incurred heavy cost and decreased ROI.
Suyati recommended a three-step digital transformation approach – demonstrate, scale and transform – to strengthen the four key pillars, namely business model, customer acquisition, operations and culture. What followed was a chain of transformational solutions, ranging from developing a state-of-the-art e-commerce portal to a completely automated home delivery solution.
Thedigital transformation initiative brought about amazing results. For starters, the company opened a new revenue channel in B2C space with a customized e-commerce solution that facilitated direct selling to customers across geographies. The employees were empowered with easily accessible intelligent navigation and logistics options to ensure direct delivery in the fastest time with minimal effort.
The most popular takeawaywas, perhaps, the insight mining tools that offered personalized marketing and campaign programs to attract more customers, as well as boost customer engagement. And the best part? The employees were able to easily adopt the disruptive new business model without having to learn about the complex underlying technology infrastructure.
Case Study 3: How to build an effective lead management solution to increase sales conversions
A global self-publishing company, withmore than 200,000 published authors, was facing a colossal challenge:Too many leads coming in from multiple channels. As the volumes increased, the company’s lead management efforts suffered severely.
When the company approached Suyati for a digital solution, the business challenge was obvious. With an average of 800 new leads on a daily basis – created by sales and marketing teams as well as from API integrations and website forms – the lead management process did not have the bandwidth or the tools to track and convert these leads efficiently.
Suyati assigned a highly-experienced dedicated global team to develop an automation module that uses an online analytical processing (OLAP) search strategy to find duplicates from within the history of lead entries and merge information to ensure that the existing lead data is accurate. To ensure authenticity, Suyati worked with a vendor to integrate information intelligence that would scrub and augment lead information, thereby preventing the business from processing fake or wrong data.
Also, the implementation of a configurable lead scoring model allowed the business to adjust the criteria based on existing market trends. The newly-designed lead management portal helped the company to manage the lead configurations, including score thresholds, timeouts, notification intervals, lead release mechanism in case of API failures, etc.
The result: 85 per cent gain in productivity and 70 per cent increase in sales conversions!
Walk the talk
Digital transformation has been the buzzword for several years now. However, succeeding in it is not an easy task. According to the 2018 KPMG Harvey Nash CIO survey, almost eight in ten Chief Information Officers (CIOs)feel that their digital strategy is only moderately effective or worse.
How can your company ensure digital transformation success? How can you sidestep the challenges that continue to derail digital strategies? The first step is to reach out to a digital transformation solutions company that drives business innovation and holistic growth. Suyati can help.
Get in touch with our Digital Transformation consultants for more details.