Consultancy.uk ranked a top 100 news publication on digital transformation

16 April 2018 Consultancy.uk

Consultancy.uk has been named one of the globe’s top 100 most influential news platforms for digital transformation, placing alongside the likes of CIO.com, MIT Sloan Management Review, Strategy+Business, Inc.com, Forbes and Silicon Republic.

The ranking of the top 100 influencers in the area of digital transformation was compiled by Onalytica, an information technology services firm that specialises in predictive analytics. The firm’s researchers pored over 90 days worth of social media posts from more than 50,000 social network users to determine which figures, brands and publications serve as a nucleus for valuable information on the topic. Examining some 380,000 statuses and updates, the analysts took into account the number and quality of contextual references that users received, as well as the social topical influence and topical authority exerted by the social media actors by dissecting their social engagements on Twitter, as well as how much influencers were referenced in association with digital transformation on Twitter, Instagram, Facebook, YouTube, Forums, Blogs, News and Tumblr content.

In the publications category, aimed at journalistic platforms covering digital disruption, Consultancy.uk was named as one of the top influencers. The online news platform is dedicated to covering UK's advisory and consulting industry, following the projects and publications of consultancies across more than 60 industries and functional areas, as well as highlighting the latest news and trends in the sector. From its base in the UK, Consultancy.uk, which is part of the Consultancy.org network, also covers international content.

Consultancy.uk in Digital Transformation 2018

Digital transformation is one of the key pillars of the global consulting industry – the segment is worth over $23 billion a year, and will continue to grow rapidly in the coming years. In comparison, UK’s management consulting industry as a whole is worth £7.3 billion, with digital now making up nearly one quarter of the market.

Commenting on the news, Jack Brinded, Editor for Consultancy.uk said, “As clients of the consulting industry look to fend off competition from agile, innovative new competitors, our news platform has been provided with a glut of stories relating to digital transformation, from technology-led business model disruption to workplace automation and digitsation of operations. The extent to which this trend has pervaded every industry is illustrated by the diversity of these stories; we’ve written pieces on consultants helping everyone from the Build-A-Bear Group to the Vatican to use digitalisation to not only survive disruption, but thrive and expand their services for new consumer groups.”

Brinded added that the appetite for digital transformation consulting is unlikely to subside any time soon, as while back-office transformation has been the driving force behind a great deal of digital spending, as clients remain eager to use digital to streamline their operations, finance and supply chain, among others, digitisation of the front-office is being touted as a major opportunity, as client seek to build stronger customer relationships.

Top 100 news publication on digital transformation

Further, digitisation still remains at its infancy, as highlighted by a recent report by McKinsey & Company, which found that growing maturity could still unlock trillions in value. The down-side – an area which has dominated much of the media headlines – is that automation could slash millions of jobs, and not only those in manual labour. Brinded said, “We have covered analysis from a number of firms suggesting as many as 60% of all work activities could be automated by 2055. Digital transformation will remain high on our radar for years to come, then, as it continues to present both opportunities, and challenges, to businesses, consultancies and society as a whole.”

Larry Zeenny, who heads the Consultancy.org network, added that he is delighted with the recognition from a leading analytics expert such as Onalytica. “With digital transformation gaining in importance for both our readers and clients, it is great to see that our journalism in the field is being appreciated by the industry’s experts. Beyond the UK, we look forward to build a similar online footprint globally as we extend our platforms and their reach to all corners of the globe.”

Most influential brands for digital transformation

The increasing importance of digital transformation in the professional services world is also reflected by Onalytica’s list of the most influential brands on the topic, which is dominated by names from the IT and consulting industry. Market intelligence firm IDC leads the way, followed by technology giant Microsoft in second place.

One management consultancy took the next two ranks, with McKinsey & Company and the McKinsey Global Institute both being named, before cloud based software provider Five9 rounded off the top five. Analytics firm Gartner followed in sixth, with ERP market leaders SAP in seventh.

Solicitors Forrester & Forrester were followed in eighth by professional services industry players Accenture and IBM. The top 50 was also graced by the presence of PwCCapgeminiAccenture (2x; Accenture Technology and Accenture Interactive), Cognizant and EY.

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Four ways digitalisation is transforming car brands and dealers

16 April 2019 Consultancy.uk

From changing expectations from the customer to new stakeholders entering the industry, the digital transformation of global automotive industry means it is facing the wholesale transformation of its business model. In a new white paper, global consulting partnership Cordence Worldwide has highlighted four major digital trends that are transforming the relationships between car brands and dealers with consumers.

With digital transformation drives booming across the industrial spectrum, automotive groups are no different in having commenced large digital transformation programmes to improve productivity, efficiency, and ultimately profitability. Falling sales figures mean the automotive sector is facing an increasingly difficult road ahead, something which means companies in the market are even more hard pressed to find new ways to improve their bottom lines.

While it offers major opportunities, the industry’s move to digitalise is not without complications. It has triggered a series of major internal changes, which have presented automotive entities with the challenge of becoming a “customer-oriented” industry. A new report from Cordence Worldwide – a global management consulting partnership present in more than 20 countries – has explored how automotive companies are navigating the rapidly changing nature of digital business.

New business models

The level of change likely to be wrought on the automotive industry by digitalisation is hard to overstate. Automation could well lead to significant reductions in the number of accidents, higher vehicle utilisation and lower pollution levels, while leading to a $2.1 trillion change in traditional revenues, with up to $4.3 trillion in new revenue openings arising by 2030.

As a result of this colossal opportunity, it is easy to see why almost all automotive groups now have digital departments, with generally strong communication within the digital transformation and the customer approach. The changes to society which this may have are potentially distracting automotive firms from the change it is leading to in its own companies though, according to Cordence’s paper.

The automotive market is dead, long live the mobility market

Because of this, the sector’s business model is set to transform over the coming decades. With digitalisation speeding up the appearance of concepts such as car-sharing, a subscription package model will likely become more palatable. At the same time, car and ride-sharing models will cater to the sustainability criteria of millennials, who will rapidly become one of the automotive market’s leading consumer demographics in the coming years.

Antoine Glutron – a Managing Consultant with Cordence member Oresys, and the report’s author – said of the situation, “These ‘old school industries’ are now working on creating new opportunities, but in so-doing are facing challenges and threats: new jobs, new technologies, new ecosystem of partners, necessary reorganisation, different relationship with customers, and even new businesses. The customer approach topic is in fact a real challenge for car companies as it implies changing their business model and adjusting their mind-set to address the customer 4.0: from product-centric to customer-centric, from car manufacturer to service provider.”

Digital customer experience

In the hyper-competitive age of the internet, even top companies face an uphill challenge when it comes to holding onto customers through brand loyalty. Digital disruption has resulted in changes to consumer behaviour, which is forcing a range of marketing strategists to reconsider their old, possibly out-dated strategies. As modern customers wield an increasingly impressive array of digital tools and online databases, they and are now able to quickly and conveniently compare prices, check availability and read product reviews.

The automotive sector is no exception to this trend, according to the study. In order to adapt to the needs of the so-called ‘customer 4.0’, car companies will increasingly need to change their business model and move away from product-centric companies to customer-centric ones, from car manufacturers to service providers.

Glutron explained, “As an automotive company, you can no longer expect customer loyalty simply with good products; you must conquer and re-conquer a customer that “consumes” your service. The offer now has to be global, digital and personalised. Your offer has to be adapted to this customer’s needs at any given moment. A key issue related to data control is to build customer loyalty by creating a customer experience 'tailored' throughout the cycle of use of the 'car product': purchase, driving, maintenance and trade-in of the vehicle.”

One way in which the sector may be able to benefit from this desire for a tailored experience is via connectivity. Consumers are generally positive about new connective features for automobiles, and many are even willing to pay upfront for infotainment, emergency and maintenance services. Chinese consumers, where the connected car market is set to hit $216 billion, are already particularly interested in paying a little more for navigation and diagnostic features in their future new car. This can also enable automotive companies to exploit a rich vein of customer data, enabling them to rapidly tailor their offerings to consumer behaviour.

New automotive segments

Digital transformation has also brought with it the rise of completely new application areas. As mentioned earlier, the most well-known example is the autonomous or self-driving car, where the last steps forward were not taken by major automotive groups but by technology companies such as Tesla. While this may have given such firms the edge in the market briefly, a number of keystone automotive names will soon be set to take the plunge into the market themselves, leveraging their car manufacturing prowess and huge production capacities to their advantage.

Before companies rush to invest in this market, however, it is worth their while to remember that the readiness and uptake for such vehicles differs greatly geographically. For example, following a study published in 2018, 92% of Chinese would be ready to buy an autonomous car, compared with only around 35% of drivers in France, Germany and US. Meanwhile, the infrastructure of different nations will also be significantly less accommodating of the new technology.

Use digital for steering thr activity

Elsewhere, Cordence’s analysis has suggested that hooking the cars of tomorrow into the Internet of Things is also likely to see a rapid change in the business model for car maintenance, providing real-time diagnostics for problems. This presents chances for partnerships to improve the connectivity of cars, especially with tech companies; for example, PSA partnered with IBM for a global agreement on services in their vehicle. Meanwhile, data could also be sold to other parties with an interest in this data, such as the government, which could use it to manage traffic levels, or ensure that only adequately maintained vehicles take to the road.

Glutron added, “With the increase in the amount of client data and connected opportunities, the recommendation is to set up data-centric approaches. The value is now in the customer data. The general prerequisites are to rework the data model and the Enterprise Architecture and generally build up a data lake including data from all sources (internal and external, structured and unstructured).”

From automotive to mobility

Relating further to the idea of connectivity, the report claimed that automotive firms must now adjust their models in line with the provision of end-to-end mobility, rather than treating the sale of a car as an end point in their relationship with the customer. In order to realise this transformation, transformations are likely to become more and more important.

A network of partner companies means automotive firms can provide a global mobility experience. As the vehicle is increasingly connected to its environment, new partners can also be cities, governments, and other service providers within the global mobility services industry in which the car brands want to take part.

According to the study, the target is clear. Companies must look to a holistic transport service, offering to move customers from A to B in a unique and pleasant way – otherwise they might as well take public transport. At the same time, they should extend the services reachable “on-board” (especially the enhancement of the connectivity between the car and smartphones or other connected devices), and reach high standards in terms of user experience (online sales, online payment, customised experience during and after the use of the car).

Concluding the report, Glutron stated, “These mobility market transformations could be considered a threat for the car manufacturers. Quite the opposite: if they take up the challenge and review their business model so that they become the service provider – communicating no longer to a driver but to a ‘mobility customer’ – they can then take advantage of their expertise and their position as a historical player. The most convenient means of transport are cars, and building a car is highly-skilled work.”