Digital Transformation to Propel Enterprises into the New Age
With a rapid shift to remote work, virtualization, touchless customer engagement, and agile supply chains, organizations are leapfrogging towards digitalization. The quest for survival in uncertain times and the desire for greater business value is accelerating the adoption of digital technologies and solutions. By strengthening their digital foundation and offering bundled end-to-end transformation solutions, service providers are becoming a critical part of their customer’s digital journey.
Transforming Manufacturing and Maintenance Processes in Aerospace and Defense
The aerospace and defense industry is facing pressure in two directions. The commercial side of aerospace is struggling with decreased demand from the impacts of COVID-19 while the defense and space segments are seeing growth as new technologies emerge. Regardless of the segment, however, the prescriptions are similar. Digital transformation and the adoption of technologies such as 3D printing, artificial intelligence, digital twin, and augmented/virtual reality (AR/VR) are an imperative.
Business Agility And Resilience Drive Demand For Risk And Compliance Services
COVID-19 has emphasized the need for regulatory compliance, internal compliance controls, and the use of security frameworks and tools. Meanwhile, the regulatory environment is increasingly complex, particularly for multinational companies, as they struggle to comply with sometimes conflicting regulations across regions. Risks have changed with a growing cloud environment and increasingly diverse IT service portfolio. The need for a strong governance, risk, and compliance (GRC) partner has grown. These emerging trends are covered in Avasant’s Risk and Compliance Services 2020-2021 RadarView™ report.
AI Emerges As The Foundation Of Enterprise Decision-making
Over the past 12 months, the number of artificial intelligence (AI) and advanced analytics projects in production has increased by 54%. Much of this growth is due to AI-enabled digital workplace solutions and self-services capabilities, allowing for low-touch operations needed during the pandemic. New use cases have emerged in areas such as advertising, media, and marketing where consumers now expect personalized content and communication. AI is creating a shift in the way enterprises consume data and make decisions.
Personalized Customer Experience Driving the Evolution of CRM Services
Cloud-based CRM suites are seeing increased adoption due to the ability to personalize the customer experience. These new capabilities are driving a 30% increase in CRM implementation services this year including CRM architecture, design, and managed services.
Consumers Increasingly Shifting To Digital Content
Digital content is growing exponentially as a result of the proliferation of smart devices and evolving customer preferences. Moreover, the use of digital technologies such as cloud, artificial intelligence (AI), and analytics is playing a critical role in providing personalized services to customers. Digital transformation is now an imperative for media & entertainment organizations not only to remain competitive but for their survival and growth.
Covid Accelerates Digital Disruption And Innovative Business Models In The Insurance Sector
Changing risk landscapes and worsening loss ratios are shifting the role of insurance companies from risk mitigation to risk prevention. Additionally, the pandemic has put new pressures on business models. Newer risks, evolving customer expectations, and increased competition combined with business continuity challenges have made digital transformation a top priority for insurance carriers. Insurance companies are significantly investing in building digital capabilities to optimize core operations, create nontraditional products, and enhance and personalize the customer experience. These trends are covered in Avasant’s new Insurance Digital Services 2021-2022 RadarView™ report.
Manufacturers Reduce Human Intervention by Accelerating Digital Adoption
Historically, manufacturing has been highly dependent on the human workforce and a little conservative in adopting advanced digital technologies such as robots, immersive reality, and IIoT to replace the human intervention. However, this changed drastically when manufacturing companies reported losses due to workforce shortages during pandemic, as they started relying on AR/ VR based solutions for remote assistance and training, bots for technical assistance on shop floor, IoT for reducing onboarding time and simplifying reskilling, and AI-based visual inspection to detect defects. The investments on real-time monitoring and AR/VR-based remote assistance could help manufacturers realize 11% productivity gains through reduction of human intervention.
Avasant’s GCC Region Digital Services 2020-2021 RadarView™ recognizes The Top-tier Service Providers Expediting Digitalization In The GCC Region
Avasant today unveiled its RadarView™ market assessment covering the Digital Services space for Gulf Cooperation Council (GCC) region. The RadarView™ report recognizes the top 14 providers supporting the GCC region in digital transformation. These 14 providers have shown mature capabilities and consistent growth in their service offerings. Providers have been assessed across three key dimensions – practice maturity, investments and innovation, and ecosystem development.
DIGITAL MASTERS 2020 RADARVIEW™
Avasant has unveiled Digital Masters 2020 RadarView™, its flagship report that recognizes 17 leading service providers who are breaking new ground in enabling enterprise-wide digital transformation.
