FACT CHECKED
In this article, we will explore Accenture digital transformation in detail – their insights, perspectives, and ideas.
Accenture, one of the world’s largest digital transformation consultancies, has a great deal to say on the topic.
Below, we will learn:
- How they define and view digital transformation
- Best practices and digital transformation strategies for success
- Where businesses should focus their efforts in the coming years
Let’s start with the basics – who Accenture is and why their perspective matters.
Who Is Accenture?
Accenture is a multinational corporation that offers solutions revolving around:
- Digital transformation consulting, training, and implementation
- Technology investment, adoption, and implementation
- Consulting around business strategy, operations, and more
They are one of the world’s foremost authorities on the topic of digital transformation, having worked with large corporations, as well as organizations such as the World Economic Forum.
In short, they are an excellent resource for ideas and information on digital transformation.
Let’s look at some of the key insights and perspectives they can offer:
Accenture Digital Transformation: Key Lessons and Insights
Here are some key ideas that Accenture offers when it comes to successful digital transformation, organizational change, and strategy.
Accenture’s Definition of Digital Transformation
Accenture defines digital transformation this way:
“The transformation of activities, processes, and competencies to fully leverage the benefits of digital technologies and their accelerating impact across present and future business.”
It’s not enough to have the right technology, Accenture claims – businesses must also enable the right people with the right skills.
Today, agility and adaptability are crucially important skills for employees, and therefore the organization itself.
To keep up with the fast-paced digital economy, organizations need to constantly invest in employee training and reinvent the way they deliver value to their customers.
The Future of Digital
In partnership with the World Economic Forum, Accenture took part in the Digital Transformation Initiative (DTI).
This research project resulted in a series of thorough reports on digital technology, transformation, and the future of both.
DTI analyzed 13 industries to determine how digital transformation is affecting those industries, as well as society as a whole.
They estimated that digitalization could deliver around $100 trillion in value to businesses and society over the next 10 years.
Each industry report identifies key digital transformation trends for each industry, as well as recommendations for driving successful digital change.
Beyond Industry 4.0
While Deloitte and others claim that we are entering Industry 4.0, Accenture claims that Industry 4.0 is old news.
They claim that the “solution is not another industrial revolution, but a wholesale digital transformation in both the things we make and the way we make them. This is the New. This is Industry X.0.”
This may very well be a marketing slogan – Accenture is adept at creating clever marketing phraseology, as we will see below.
Marketing slogan or not, though, their “Industry X.0” concept still hides a solid strategic framework for digital transformation.
In essence, Industry X.0 is:
- An approach that uses advanced technology to accelerate operational efficiency and enterprise growth
- A shift in emphasis towards “hyper-personalized experiences, products and services”
- Innovative business models that result in new revenue sources
This concept complements another of Accenture’s key ideas around digital transformation – the idea that we are entering a “post-digital world.”
The Post-Digital World
While some may claim that we are entering the digital era, Accenture says that we are now entering the post-digital era.
In this post-digital world, new technologies will take center stage, alongside new business models and new strategic imperatives.
This new world will look very different from today’s world:
- Digital adoption will still form the foundation of successful digital transformation and business operations – but businesses will need to extend their focus to building solid relationships with customers, employees, and partners
- Technology enables instant, on-demand gratification, which will open up “momentary markets” and allow customer experiences to be deeply customized and personalized
- In the post-digital era, innovation with a purpose should be the principle that guides organizations
In one report that covers the post-digital era, they cover four key areas that will become paramount in the years to come:
- DARQ. That is, Distributed ledger technology, artificial intelligence, extended reality, and quantum computing.
- Get to know me. The shift towards individualized, experience-based relationships with customers.
- Human + worker. The workforce of the future will be empowered by their skills and knowledge, as well as through new waves of technology that augment and enhance worker capabilities.
- Enterprises as vectors. Ecosystem-driven businesses must stay connected to other organizations in order to thrive, which exposes them to more security risks – to combat this potential risk, organizations must learn to collaborate on IT security.
- The speed of now. On-demand experiences are momentary and fleeting, but with the right approach, businesses can capture and profit from those opportunities.
Accenture emphasizes that the post-digital future will continue to transform the economy from the ground up.
To capitalize on the opportunities presented by this new era, businesses must exploit emerging technologies, transform their business models, invest in their workforce, and create relationships based on trust.
