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12 Jan 2023 Industry News

How can companies thrive in today's rapidly changing world?

Digital Transformation
The Multidimensional Transformation

The world is undergoing a series of changes and challenges that are fundamentally transforming the way we operate, work, and live. From inflation, social media, war, and supply chain challenges to cybersecurity, food problems, the ongoing technology change, digitization, talent shortages, and the pandemic – all of these factors are converging to create a new world (dis-)order.

To be successful in this rapidly evolving landscape, companies need to do more than just make incremental changes. They need to embrace substantial and radical change that will require years to implement. It's no longer just about cutting costs; it's a multidimensional matter that requires companies to optimize a very dynamic setup.

Christina Raab (Accenture DACH) pointed out a way at 2022 for enterprises to reinvent themselves through data, technology and AI and identifies the approach for addressing the present challenges a multidimensional transformation. This transformation takes place on the following 3 levels:

  • At the heart of this transformation is the need to use data, technology, and AI to master the challenges, be agile, grow, and be successful. To achieve this, companies must undertake a total enterprise reinvention, transforming their business from the inside out to create new experiences with customers and clients.
  • Additionally, sustainability needs to be at the core of this transformation. Companies need to view sustainability as a business opportunity rather than just a regulatory burden. By designing sustainable practices into their operations, companies can reduce their carbon footprint and contribute to the fight against climate change.
  • Finally, talent management needs to be a top priority for every board. Companies need to attract and retain the best technology talents to master the challenges that lie ahead. By offering purpose, upskilling and reskilling opportunities, automation, and other incentives, companies can create a culture that attracts and retains the best talents.

Want to know more about the importance of a multidimensional transformation?