00:00
Marie Gulin-Merle: Speed is of the essence when it comes to digital transformations. The quicker to act, the better for the bottom line.
00:22
So, Jay, behind digital transformation, obviously the opportunity is a growth opportunity.
We’ve started working together, Google and BCG, to capture the criteria of success as companies go through this journey.
00:39
Jay Venkat: Absolutely. We’re excited about this report.
We surveyed almost 2000 companies, and we saw in the research both short-term and long-term benefits. The short-term benefits were in revenue generation: at least 3% revenue increase in the short-term reduction in attrition, ability to increase your net promoter score, etc.
In the long term, we also saw a significant increase in resilience. Companies, in the last two years even, that have been digital leaders have gotten 5% more market share increases than their peers.
01:11
Gulin-Merle: What did the survey tell you when it comes to companies setting themselves up for success when it comes to digital transformation?
01:20
Venkat: That’s a great question, Marie. There are three elements that are critical to this digital transformation, which is data, cloud, and people.
And the data piece is around having access to privacy-compliant data.
The cloud piece of it is hastening the cloud transformation and really being quite quick about it.
And then the third piece is people, because the upskilling of the right talent to be able to pull this off is actually critical.
01:46
Gulin-Merle: I would say in my own experience, the access to data and cloud-based solutions are fundamental.
On the people side, we talk about this test-and-learn, always-on mindset. It’s really about grabbing the insights and the data points on a daily basis to iterate and change and evolve the contents on an always-on basis.
Number two on the people side is the operating model, all the different functions working together. So, it’s not just about the immediate outcomes, it’s also the scalability.
02:21
Venkat: So Marie, we’ve talked a lot about digital transformation and the challenges and the opportunities.
In your view, what are some of the biggest ones?
02:29
Gulin-Merle: The challenge is the opportunity; the size of the prize, the size of the opportunity is clear. The importance of speed is also clear. So being ready almost tomorrow is the imperative.
