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EY wants digital revolution to address four major issues

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Ernest and Young

Most companies across the globe are in the process of defining or executing a digital transformation in response to what has been tagged ‘fifth industrial revolution’ which is expected to significantly change the way we live, work and interact with one another.

This technology- driven revolution is projected to be faster, more scalable and adopted by more people than perhaps all industrial revolutions prior.

According to a recent EY report, organizations must ensure that all digital transformation initiatives embarked on meet at least two of the following objectives.

These objectives are improving customer experience, empowering employees, increase in revenues and optimizing operating costs.

EY, which noted that a significant number of organisations are struggling to achieve the return on investments from their transformation, said resistance to change is cited as one of the most prevalent reasons for failure.

According to EY, digital introduces new ways of working, different from what most experienced employees are used to. The report stressed that this typically leads to resistance and low adoption of the new operating model.

To win the adoption battle, EY said organizations must carefully consider the impact of transformation initiatives on people (skills, roles and KPIs), existing employees need to be upskilled and empowered to function in the digital age, the introduction of external skills may be required for specialized functions (cyber security, data science, enterprise architecture, customer experience mapping, software development etc.).

Most importantly, management needs to clearly communicate how digital initiatives will assist employees perform their roles more effectively.

According to EY Digital Solutions Architect for West Africa, Akinsope Roberts, “Customers expect a significantly improved experience on digital channels.

Traditional organizations are more often than not compared to disruptors such as Facebook, Amazon, Uber, Jumia, Air BnB, Wakanow etc., who have harnessed the power of emerging technologies to deliver intuitive customer-oriented business solutions.

Emerging technologies such as block chain, artificial intelligence and IoT amongst others are undoubtedly important enablers for digital, but organizations must keep in mind that these are simply a means to the end which remains robust customer experience; simple, personalized, interactive and secure.”


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