digital transformation: it is not about technology · our world is rapidly changing... 64% of ceos...

Digital Transformation: It is not about Technology

Presentation by Dr. Nadir Hirji & Zia Paton

June 2020

1

PwC Canada 2

➔ 2019 Digital IQ Findings

➔ Retailization of all Industries

➔ Implications for Public &

Private Sector

➔ The Covid Effect

➔ Q&A

Agenda

1The findings

PwC

This marks the release of our

10th global Digital IQ study on

the digital maturity of

organizations across the globe

Over 2600 organizations globally

were surveyed and over 100 in

Canada.

The Canadian Digital IQ has

been dropping over the last few

years!

Organisations with higher digital

IQ outperform their peers in

their group.

For Canadian organizations there

were three main takeaways:

• Invest in the workforce of

the future

• Disrupt or be disrupted

• Be intelligent about

digital

These findings are relevant

for TT and the Caribbean

...now more so than ever!

Digital IQ - Canadian and Global Market Perspectives

4

5PwC

of Canadian executives say the

lack of suitably skilled teams is the

number one barrier to success to

digital initiatives

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7

PwC

9

10

2

industries

of all

retailization

The

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Experience is the new

battleground.

32% of all customers would

stop doing business with a

brand they loved after one bad

experience.

PwC Future of Customer Experience Survey

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Save the bells and

whistles. Get the must-

do’s right first

(right now).

80% of consumers say

that speed, convenience,

knowledgeable help and

friendly service are the

most important elements

of a positive customer

experience. PwC Future of Customer Experience Survey

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Our world is rapidly changing...

64% of CEOs believe technology will disrupt howthey do business in the next 5 years.

—PwC 21st CEO Survey

Source: PwC’s 21st CEO Survey (2018)

This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

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Private sector

for Public &

Implications

PwC

Current Situation

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What is Digital Transformation

● Transaction focused

● Highly manual / paper based

● Waterfall approach and mindset

● Latent / slow response times

● Labour intensive

● Customer centric

● Employee enablement

● Devolve decision-

making

● Improve transparency

● Take an iterative

approach

Digital State

● Better decision making due

to better reporting/data

● Flexible and enabling IT

● Enhanced response times

● Change in cultural mindset

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Why do Digital Transformations Fail

Viewed as an

IT project only

Underestimate

the change

Not human-centred

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Effect

The Covid

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Enhancing the digital experience: Go for speed, and iterate

■ Optimize right now: Take a scan of your critical customer interactions and employee tasks,

and assess their effectiveness given current challenges.

■ Redefine your future customer experience: Use any increase in digital interactions, touch

points and purchasing to redefine your experience.

■ Keep your customer relationships for the long term: Recognizing that customers will be

accustomed to the power of interacting with you digitally, make sure you have the ability to

keep them while encouraging them to continue using digital as their primary channel.

■ Use ROX (return on experience) to focus on what you should do: Given the current

situation, you need to prioritize what you should do to drive revenue or reduce costs.

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How to Optimize now!

If you have a digital presence

■ Optimize your experience to increase conversion

■ Take advantage of people going online more to

steal market share and grow

If you don’t have a digital presence:

■ Get something up fast (it does not need to be

perfect—optimize later)

200%

A well-designed site can have up to a

400%higher on sites with a superior user experience.

And visit-to-lead conversion rates can be more than

higher visit-to-order conversion rate than a poorly designed site.

PwC

Contact Information

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Zia Patton

PwC | Partner

Mobile: 8683906218

Email: zia.paton@pwc.com

Nadir Hirji

PwC | Partner

Mobile: +1.416.509.4536

Email: nadir.hirji@pwc.com