Press Release

Digital Transformation is no Longer the Goal, but the Means to the Goal, According to ALM’s New Pacesetter Report

A new report on Digital Transformation finds that innovators among professional services providers are grappling less with technology installation and more with process and culture reengineering

New York, NY – October 12, 2022– New analysis from ALM Intelligence Pacesetter Research found that the number of digital transformation-related projects has continued to climb since the beginning of the pandemic.  The emphasis in these projects has shifted away from the capabilities of specific digital technologies to how to use them most effectively toward specific client business outcomes. This shift indicates that the service emphasis among innovators in professional services has moved toward helping clients create successful digitally-enabled processes and cultures to support organizational goals. 

In addition to this shift in project emphasis on digital transformation, key trends identified in this research include:

  • The pandemic revealed (through involuntarily remote workforces) the power of digital technologies, and while pandemic restrictions are fading, clients and employees have proven reluctant to lose the momentum of change
  • The emphasis has shifted (in service delivery) from the technologies themselves to implementing them, ensuring clients get the enhanced outcomes they need
  • Because of this, digital transformation has gone from being the domain of IT and data specialists to now involving mostly operational, financial, human capital, tax, legal, product development, sales & marketing, etc. specialists 
  • While more cautious organizations prefer the incremental approach to digital, there is a growing awareness that amazing digital investments in one part of a firm can be undermined by less digitally-aligned processes elsewhere, especially in the back and middle offices, damaging the customer experience and eroding project ROI
  • A growing number of digital solutions today involve not one but multiple technologies requiring both in-house expertise and discreet digital management capabilities 

“The pandemic accelerated the rate of digital adoption across the board,” asserted ALM Intelligence Pacesetter Research Director Tomek Jankowski. “But clients in 2022 are less distracted by the ‘shiny object’ syndrome of how powerful technologies like AI or blockchain are, and more focused on building digitally-enabled processes that deliver a differentiating-level customer experience.”

As detailed in the report, innovative professional services providers are less likely to go to market with a discreet digital practice, instead integrating digital services with other domain and industry sector practices. The emphasis is on finding the optimal combination of humans, processes, and technology to get clients the desired results.     

In ALM Intelligence Pacesetter Research: Digital Transformation 2022, the Pacesetter Advisory Council assessed dozens of providers to arrive at sixteen Innovators recognized for their ability to deliver tangible client impact in today’s crowded digital transformation market. Additionally, the research and analysis provide insights into the competitive dynamics and service delivery trends driving convergence across legal, management consulting, multi-service, and technology providers.

In this report, ALM Intelligence Pacesetter Research evaluates the digital transformation capabilities and offerings of the following providers: Accenture, Bain & Company, Baker McKenzie, Boston Consulting Group, Capgemini, Deloitte, EY, Horváth & Partners, KPMG, Kearney, Kennedys, Norton Rose Fulbright, North Highland, Oliver Wyman, PwC, and Third Stage Consulting. 

ALM Intelligence Pacesetter Research provides independent, objective research to providers and buyers of professional services, coupled with practical insights that inform the decision-making process for strategic planning and procurement professionals. 

To learn more about the digital transformation research or obtain the full version of the report, go to: https://www.alm.com/intelligence/pacesetter-research-2/digital-transformation-digital-services/.

For more information or to obtain the full version of the ALM Intelligence Pacesetter Research series, visit: https://www.alm.com/intelligence/pacesetter-research/ .

  

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