Digital business priorities span both customer experience and operational excellence in 2016
Bangalore – January 27, 2016
Infosys (NYSE: INFY), a global leader in consulting, technology, outsourcing and next-generation services, today published a research study that highlights the changing ways in which customers wish to experience brands, the challenges companies face when trying to transform digitally to meet these expectations, and the approach needed to drive successful digital transformation.
The research, commissioned by Infosys and conducted by Forrester Consulting, surveyed business and IT decision-makers across the U.S., the U.K., France and Germany. The study notes that customer relationships with brands are beginning to deteriorate as businesses fail to measure up to changing expectations. While 70% of executives viewed improved customer experience as their top priority in 20151 ,customers’ perception of their experience of over 170 brands declined by almost 20% in the same year.
Lack of a systematic approach to implementing and executing digital change by almost two thirds of survey participants is one of the reasons for this incongruity. They believe that their organizations lack both strategic planning and the expertise to execute successful digital change. Only 31% believe that they have a digital strategy in place, with just about 9% observing that they are truly differentiated by their digital maturity.
Organizations that choose a systematic approach to digital transformation, over an ad-hoc one, are likely to invest more in the process. 61% of respondents believe that they will change current business models, while 68% intend to create direct customer-centric structures to quickly adapt to changing customer behavior. 79% of enterprises that have a systematic approach in place are investing 5-15% of revenues in digital initiatives, while 35% of them are investing between 10–15%. In contrast, just 11% of firms with an ad-hoc approach to digital invest at the same level. Digital transformation initiatives backed by the CEO have a significantly more positive effect, as per the study. 69% of the time, when the CEO leads digital change, firms invest more than 10% of their revenues in digital projects over the following year.
1Forrester's Global Business Technographics® Priorities And Journey Survey, 2015
To meet changing customer expectations, organizations are looking to make focused digital investments.
Ravi Kumar, Executive Vice President and Head of Global Delivery, Infosys
"The true power of being digital lies in its ability to amplify human potential; enabling mundane and routine tasks to be automated and freeing businesses to pursue new ideas. In this context, the findings of the study validate our conviction that digital transformation is a continuum where enterprise efficiency is the goal at one end, and better customer experience at the other. The opportunity of our times, therefore, lies in taking a systematic approach to digital initiatives – augmenting individual talent and collective capability."
For more information and a full copy of the study, please visit: www.infosys.com/bedigital.
Learn more about the findings and recommendations from the study:
Infosys is a global leader in consulting, technology, outsourcing and next-generation services. We enable clients, in more than 50 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.
Visit www.infosys.com to see how Infosys (NYSE: INFY), with US$ 9.2 billion in LTM revenues and 193,000+ employees, is helping enterprises renew themselves while also creating new avenues to generate value.
Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2015. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that the date of this press release is January 14, 2016, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.
For further information, please contact: PR_Global@infosys.com