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The four key transformation elements

Enhancing operational efficiencies

The customer experience is crucial, especially during lean times. Businesses are fighting to preserve revenue during the ongoing economic disruption, and customer retention could be the differentiator in making it through to the other side. The customer experience is an important business objective. Customer behaviors have changed, and digital transformation can deliver improved service while recognizing unmet needs through a better understanding of customer behavior. Quality customer experience can encourage loyalty and motivate both customer retention and acquisition.

58%

58%

identify enhancing operational efficiencies as one of their most important short-term business goals

59%

59%

cited improving IT infrastructure as a key short-term business goal

Improving digital resilience

Many businesses were forced to adapt quickly, including a hasty shift to remote work, pivoting their operations, or leaning heavily on digital revenue streams. The pandemic has also resulted in an increase in cyber threats, and combatting these is vital for resilience. New technologies helped modernize many processes, but also exposed businesses to threats. However, there are options for businesses to mitigate these risks.

39%

39%

consider a cyberattack their number one digital risk

59%

59%

say improving cybersecurity is one of their top three short-term business goals, while 40% say it’s a long-term goal.

Refining the customer experience

The customer experience is crucial, especially during lean times. Businesses are fighting to preserve revenue during the ongoing economic disruption, and customer retention could be the differentiator in making it through to the other side. The customer experience is an important business objective. Customer behaviors have changed, and digital transformation can deliver improved service while recognizing unmet needs through a better understanding of customer behavior. Quality customer experience can encourage loyalty and motivate both customer retention and acquisition.

68%

68%

identified improved customer experience as a priority short-term business goal

have digital projects in the works relating to customer service

60%

60%

Increasing revenue

Many businesses are dealing with cash flow issues due to COVID-19’s economic impact, and some have pivoted from increasing revenue to preserving it. Digital transformation can attain both of these goals by optimizing processes and improving efficiencies. Expanding revenue streams requires rigorous effort and investment, but it could be an important factor for staying relevant in the digital economy.

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Diversifying revenues is the number one most-cited long-term business goal

81%

81%

expect revenue increases in the next three years

Digital transformation moving forward

The COVID-19 crisis has accelerated the need for digital transformation and adoption for businesses around the world. An effective digital strategy can help alleviate the effects of these challenges, while also identifying new opportunities for customer needs. Learn how BDO can help manage your digital transformation.

bdo logo
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header
rethink logo
icon bg (copy)
charcoal bg
slate bg

The four key transformation elements

Enhancing operational efficiencies

The customer experience is crucial, especially during lean times. Businesses are fighting to preserve revenue during the ongoing economic disruption, and customer retention could be the differentiator in making it through to the other side. The customer experience is an important business objective. Customer behaviors have changed, and digital transformation can deliver improved service while recognizing unmet needs through a better understanding of customer behavior. Quality customer experience can encourage loyalty and motivate both customer retention and acquisition.

58%

58%

identify enhancing operational efficiencies as one of their most important short-term business goals

59%

59%

cited improving IT infrastructure as a key short-term business goal

Improving digital resilience

Many businesses were forced to adapt quickly, including a hasty shift to remote work, pivoting their operations, or leaning heavily on digital revenue streams. The pandemic has also resulted in an increase in cyber threats, and combatting these is vital for resilience. New technologies helped modernize many processes, but also exposed businesses to threats. However, there are options for businesses to mitigate these risks.

39%
59%

39%

consider a cyberattack their number one digital risk

59%

say improving cybersecurity is one of their top three short-term business goals, while 40% say it’s a long-term goal.

Refining the customer experience

The customer experience is crucial, especially during lean times. Businesses are fighting to preserve revenue during the ongoing economic disruption, and customer retention could be the differentiator in making it through to the other side. The customer experience is an important business objective. Customer behaviors have changed, and digital transformation can deliver improved service while recognizing unmet needs through a better understanding of customer behavior. Quality customer experience can encourage loyalty and motivate both customer retention and acquisition.

68%

68%

identified improved customer experience as a priority short-term business goal

60%

60%

have digital projects in the works relating to customer service

Increasing revenue

Many businesses are dealing with cash flow issues due to COVID-19’s economic impact, and some have pivoted from increasing revenue to preserving it. Digital transformation can attain both of these goals by optimizing processes and improving efficiencies. Expanding revenue streams requires rigorous effort and investment, but it could be an important factor for staying relevant in the digital economy.

goal icon

Diversifying revenues is the number one most-cited long-term business goal

81%

81%

expect revenue increases in the next three years

Digital transformation moving forward

The COVID-19 crisis has accelerated the need for digital transformation and adoption for businesses around the world. An effective digital strategy can help alleviate the effects of these challenges, while also identifying new opportunities for customer needs. Learn how BDO can help manage your digital transformation.

bdo logo

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