Enterprise transformation describes the change that is taking place in large companies to deliver better customer experiences. Customers today expect highly personalized products and services to be delivered faster than ever before and without hassle. This expectation requires organizations to make a meaningful change in the way they operate.
Enterprise transformation requires a different approach versus the typical innovation projects of the past. Investments must revolve around delivering an exceptional customer experience. Some companies are looking to new technology, solutions, or data to deliver what customers really want. These are the three most common types of transformation.
To successfully transform, lasting changes are needed in the mindset, people, and processes of the business. This level of change across a complex organization requires a clear strategy and often a multiyear plan to get there.
For example, a multinational car manufacturer is overhauling their retail sales process — both offline and online. The goal of this transformation is to better align the organization with the way people research and purchase cars. Instead of focusing only on the car-selling transaction itself, they knew they needed to improve the entire buying cycle. This meant investing in a digital platform and reimagining how customers experienced the entire process.