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A connected enterprise for the new reality

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
and actions

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Innovative products
and services

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Experience-centricity
by design

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Seamless interactions and commerce

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Responsive operations
and supply chain

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Aligned and empowered
workforce

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Digitally enabled technology architecture

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Integrated partner and
alliance ecosystem

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How to succeed in the new reality

There are a number of key considerations that can help organizations make faster progress.

01 Keep close to what your customers want

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.

02 Do things in an agile way

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.

03 Build in resilience

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

04 Keep it human

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.

05 Make use of new technologies

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