Companies that were agile, responsive and digitally enabled were able to better navigate the effects of COVID-19 and lockdown.
These connected enterprises have high levels of synergy between eight core capabilities across the organization where each capability has a mutually beneficial, self re-enforcing effect. This is critical to compete in the new reality.
Insight driven strategies
Connected enterprises harness data analytics to generate actionable insights. They are equipped to develop a real-time, multi-dimensional view of their customers, allowing them to shape meaningful and effective customer strategies and a personalized approach to executing them. They use insights to make integrated business decisions.
Do your D&A capabilities give you a holistic understanding of your business ecosystem?
How do your data practices help you to provide a real- time, 360 view of your customers?
Do you have detailed policies in place to ensure information security and privacy?
A connected enterprise develops compelling customer value propositions including price, products and services to engage the most attractive customers and drive profitable growth. It innovates with the needs and priorities of customers in mind and, by anticipating where demand is moving, builds competitive advantage.
Does your strategic planning process balance value to customers with value to the organization?
Do your customer insights help you target customers and prospects with the right products?
Do you design new products and services leveraging deep customer insights and anticipating future needs?
Many businesses invest heavily in new technology and operations — but don't base it around the actual impact on their customers, employees or business partners. Connected enterprises step back and ask what experience they want to deliver to these audiences and then intentionally create it through design, supporting the value propositions and delivering on business objectives.
Do you approach experience design from both the inside-out and the outside-in?
Can you respond to rapidly evolving customer, employee and marketplace dynamics?
Do you measure customer, employee and partner interaction across different products and services, delivered across various channels, using multiple KPIs?
Seamless interactions and commerceRead more
The Connected Enterprise is a relationship business, engaging with prospects and customers at multiple touchpoints and ensuring an integrated experience across them. Whether the customer's entry point is marketing, sales or service, the business delivers a joined-up experience and provides the opportunity to buy across the marketing, sales and service lifecycle while making the customer feel valued. The business works together across functions to achieve measurable results.
Is your experience joined up and connected?
How does your organization harness data and analytics to deliver a relevant, seamless experience across marketing, sales, service and commerce?
Can your platform integrate internal systems with partners and third-party providers to provide the desired experience?
and supply chain
Connected enterprises know they must have the right operations practices and supply chain in place if they are to actually execute on the promise to customers. They operate the business with efficiency and agility to fulfil the customer promise in a consistent and profitable way. They have the right enterprise decision analytics, operating models and procurement services in place.
Are your operations able to respond and adapt to changing market requirements?
Does your supply chain bring you the consistent performance that you need?
Do you leverage Data & Analytics across the full value chain to drive enterprise improvement?
Aligned and empowered
A Connected Enterprise has an agile organizational structure ready to adapt. The company attracts and recruits the right type of people; it builds and instils a customer- centric culture; it inspires people to deliver on the customer promise and drive up business performance.
Do you foster an innovative, forward-looking and customer-centric culture?
Do your employees have the right skills and training to help them deliver to customers?
Are you able to attract and retain the right digital and entrepreneurial talent with the right mindset for customer centricity?
Digitally enabled technology architectureRead more
Connected enterprises have the ability to architect, engineer enable and operate intelligent digital services, technologies, and platforms to deliver on the customer promise in an agile, cost-effective and scalable manner while maintaining security. They develop secure, scalable and cost-effective solutions that also support customers, employees and partners to work effectively.
Are you incorporating and optimizing the integration of today's and tomorrow's technologies to support high performance?
Are you automating business and technology processes to respond to customer needs more effectively?
Is the necessary security in place to protect your data, systems and products?
Integrated partner and
No business does it all themselves. Every business relies on its partners. Connected enterprises successfully engage, integrate and manage third parties to increase speed to market, reduce costs, mitigate risks and supplement capability gaps to deliver the customer promise. They develop trusted relationships with their partners and build a competitive edge together.
Are you able to identify partners, alliances and vendors to fill any capability gaps?
Do you have a defined, efficient and risk-reducing onboarding process?
Do you monitor partners' performance and ensure it's helping you meet your business objectives?
The ability to think "outside in" is key in building a customer-centric business. Ensure that you are not deviating from your original goal of delivering on what your customers want, need and are willing to pay for; keep continually looking up and outside of the organization to ensure this mission is at the fore.
Becoming a connected enterprise is a transformation — but that doesn't mean the business needs to revolutionize itself overnight. Break changes down into specific steps, sequence them and implement. Keep standing back to assess whether the change has been successful in a 'test and learn' approach. It's about a series of small changes that together add up to a significant and impactful transformation.
67 percent of CEOs say they have had to rethink their global supply chain approach given the disruptive impact of COVID-19, driven by the desire to become more agile in response to changing customer needs.11
While embedding new technologies such as AI and automation are likely to be critical in developing more seamless interactions for customers, remember that you also need to keep the experience 'real'. Don't lose the human touch; make sure that your customers are still being served by humans — your employees — at the key moments.
80 percent of CEOs say that COVID-19 has accelerated digital transformation.2 Make sure that you are continually looking at what new technologies are becoming available that could help you serve customers better or connect your business up more seamlessly. Are you utilizing cloud effectively? Are you building in appropriate automation and AI? Are your teams empowered with collaborative tools so that they can better work together and share key information and data easily?
2020 Global CEO Outlook, KPMG International