The Power of Communications: Unlocking Growth Through Digital Transformation
Download a PDF of this articleFTI Consulting launches new a report The Power of Communications: Unlocking Growth Through Digital Transformation that reveals double-digit revenue gains are reported by companies mastering the process. Far from being a question of costly technology and the latest digital tools, the survey of 600 decision makers at European businesses, found that stakeholder engagement and reputation analytics are now the key factors that determine success or failure.
Key Findings:
1. Additional Growth
Businesses who have completed a digital transformation expect to see 9.7% more organic growth.
2. A reluctance to embrace
Only 31% of businesses say they have completed a digital transformation.
3. A challenge to get it right
Only 1 in 4 who have managed a digital transformation say it has been fully successful.
4. Effective stakeholder engagement increases likelihood of success
Engaging stakeholders enables businesses to understand unanticipated issues and produce solutions.
5. Measuring reputation is a must
Developing a better understanding of how digital transformation impacts reputation among stakeholders and how to improve it is a critical aspect businesses struggle to get right.
6. Leadership can be the difference between success and failure
The role of the CEO is significantly underestimated by unsuccessful businesses.
Digital Transformation with FTI Consulting
- Integrated: We offer a non-siloed approach across FTI’s segments to ensure you get the right blend of expert advice and execution
- Operational & reputational: We offer a high level of operational and technical capability, coupled with a sophisticated approach to reputation
- Stakeholder-focussed: We acknowledge a full range of stakeholders and audiences needed to deliver successful projects including change management
- Balanced: Our offer sits at the intersection of operational, financial, organisational and reputational data and capabilities
- Data-driven: Our advanced approach to measurement and KPIs and its associated data will ensure we identify and track success
Methodology
Digital Transformation Survey
Research was conducted online from 20th to the 27th of January 2023 with n=600 respondents who are C-suite and senior managers of large companies. The breakdown of respondents by country is n=200 in each of UK, France and Germany. Respondents in our sample employ a sum in excess of 7 million workers, and have a combined revenue of over £/€1 trillion globally.
To review the full survey report, please visit here. For more information on the research methodology, please contact [email protected].
Definitions
Digital transformation is defined as “the integration of digital technology into all areas of a business, fundamentally changing how you operate and deliver value to customers. It’s also a cultural change that requires organisations to continually challenge the status quo, experiment, and get comfortable with failure.”
The views expressed in this article are those of the author(s) and not necessarily the views of FTI Consulting, its management, its subsidiaries, its affiliates, or its other professionals. ©2023 FTI Consulting, Inc. All rights reserved. www.fticonsulting.com |
