fbpx
Menu Close

How to use digital technology to improve the value of your business

digital-technologies

Most of the talk regarding the potential of digital technology for business has been centred around online sales, social networking and mobile applications. However, writing for McKinsey Insights & Publications, Tunde Olanrewaju and Paul Willmott insist that the biggest impact on the bottom line could come from cost savings and changes beyond the interface with customers.

Having conducted a year-long study, the authors reveal that across the industries they examined, the potential bottom-line impact from digital sales over the next five years averages at 20%, compared with 36% from cost reductions.

In order to capture the available value, organisations need to assess the value at stake, invest a suitable proportion of that value and align their business and operating models appropriately.

Please log in or take a free two month subscription to continue reading
Credits:
Source Article: Finding Your Digital Sweet Spot
Author(s): Tunde Olanrewaju and Paul Willmott