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Beyond Silos: Fusing Digital Across the Enterprise

Cognizant Excelling @ digital requires enterprise fusion Organizations that seamlessly fuse digitat across their front-office and back-office processes, while emphasizing cross-functional collaboration, are more than 2.5x likely to generate double digit growth. Those that fall short can take immediate steps to a fused state by setting a clear customer experience vision. In a survey of 500 business and technology leaders conducted for us by Forrester Consulting, we learned that LESS 1 THAN of the organizations studied have fully fused digital across their enterprises. DATA This means they are able to harmonize their strategy across key processes, data, organization and technology. Fused Organizations are in the Minority Fused 16% Siloed 32% 52% Converged Siloed: Digital decision making is conducted independently within functional silos at these organizations. 24% are experiencing revenue growth of over 10%, on average. Converged: Digital change is seen to be a key component in the company's strategic future, but coordinated execution may be difficult to achieve across functional business units of these organizations. 50% are experiencing revenue growth of over 10%, on average. Fused: Digital initiatives are driven by the desire to provide best-in-class customer experiences of these organizations. 62% are experiencing revenue growth of over 10%, on average. Enterprise Fusion Varies by Industry Fused Converged Siloed ENERGY/ UTILITIES FINANCIAL LIFE SERVICES RETAIL SCIENCES 15% 22% 12% 22% 21% 27% 26% 43% 66% 51% 53% 42% TRANSPORTATION/ INSURANCE MANUFACTURING LOGISTICS HEALTHCARE 12% 12% 11% 8% 29% 34% 40% 44% 48% 59% 45% 58% The Fusion Disconnect: Most Enterprises Aren't Built to Excel at Customer Experience. THAN 40% of companies have aligned internal teams that put customers at the forefront of their digital activities. 94% ... Digitally Fused Enterprises Make CX 65% 80% a Focal Point 37% 59% 25% Fused Converged Siloed CX is a Top Priority Organization has CCXO The Takeway: How Enterprises Can Become More Fused For Siloed Organizations: Set and communicate an organization-wide CX vision and strategy. Make cultural change a priority and eliminate stove pipes. Amp up investment in digital operations, including cloud-based digital back-office capabilities. For Converged Organizations: Take a more holistic approach to digital that is grounded in end-to-end customer journeys. Invest in data quality ahead of the Al rush. Embrace partners to accelerate business change through new ideas and modern practices. For Fused Organizations: Exploit data, automation and Al. Operate in a continuous improvement mode. Our Recommendations 1. Connect around the customer journey: → Create small, cross-organization, Scrum-like teams for improving customer journeys. → Bring customers directly into the decision-making process. తిరి8ి 2. Focus operational improvements on what customers value most: → Create innovation labs specifically to address improving business operations. → Engage a network of partners to deliver new operational capabilities fast. 3. Create a modern tech foundation that is loosely coupled and built for speed: → Make dramatic changes to tech strategy built on cloud-based and 10101-0 O-I0101 microservices architectures. → Extend your technology directly to customers for real speed. 4. Create and nurture a company culture that embraces change: → Invest in the human side - people and change. → Value behaviors and ethos, not just outcomes and roles. To find out more, visit us at © Copyright 2018, Cognizant. All rights reserved. No part of this document may be reproduced, stored in a retrieval system, transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the express written permission from Cognizant. The information contained herein is subject to change without notice. All other trademarks mentioned herein are the property of their respective owners. Codex 3920

Beyond Silos: Fusing Digital Across the Enterprise

shared by cognizant on Sep 25
Don’t get us wrong: Pockets of innovation are admirable. But our new research finds that digital succeeds best when it connects key functional areas to deliver exceptional customer experiences.




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