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3 Reasons to Deploy a Customer-Focused Digital Transformation Strategy

Over the years, most businesses have matured in the digital spectrum and embraced advancement in operations. While everyone is fighting for that particular locus, it is the customer experience (CX) that leaves a lasting impact on the fate of a business. No matter how impatient the customer is, businesses have to address the soaring expectations and devise the most optimal customer-first approach.

At the same time, it is imperative to seek qualitative digital transformation advisory service.

Here’s a quick run-through of the findings from different research institutions backing the practice of a customer-centric strategy at the enterprise level.

• According to a report by IDG issued in 2019, the success of digital transformation would be gauged by a business’s ability to deliver exceptional customer experience and boost worker productivity through technological integration.

• Another 2018’s study by KPMG talks about the fact that value should lead the way for the digital transformation of an organization. It also mentions that 67% of 300 surveyed business leaders believed agility is the most priced asset of an organization.

• KPMG’s Global Manufacturing Outlook 2018 also mentions that intensified connectivity among manufacturers, suppliers, and customers induced by digital transformation would cause a positive impact on the businesses. CEOs and innovation experts are already partnering with business process transformation advisory to build solutions that make the most out of these opportunities.

Enterprises must look forward to hone their ability in deciphering customer expectations and deliver a superlative experience. It is opined that AI and machine learning would help businesses make the processes more customer-centered.

If you don’t have expertise in devising strategies for a customer-focused digital transformation, hire the experts with globalized experience at Millennial Partners.
Engage Digital Transformation Advisory Services by Millennial Partners.

Millennial Partners (millennial. ae) prides itself on serving clients’ most pressing organization transformational needs across people, processes, and technology through its proprietary frameworks. Our digital transformation offering is most relevant to the increasingly digital enterprise and consumer environments. We follow a coherent roadmap that includes incorporating the most cutting-edge technologies and vendors focusing on technologies such as enterprise Blockchain, Artificial Intelligence, and IoT.

Should you have any questions and/or would like some focused professional advice, please don’t hesitate to reach out via our e-mail at info@millennial.ae.

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Top 3 Digital Transformation Trends in 2021

As the world is combating COVID-19, businesses across various industries are employing ingenious solutions to stay in the game. Organizations and start-ups are leveraging business transformation advisory services to stay on top of the latest trends and seize opportunities to transition to a better digital world. The following are the top three digital transformation trends that businesses need to gear up for.

Digital culture

Due to the hype that many digital-born organizations are creating, traditional businesses are pressurized to digitize services as well as the company’s culture. Replicating the practices of digital-born companies is however not necessarily the best-suited practice for developing digital culture, neither does one formula apply to all.

Since the strengths and weaknesses of traditional brands differ from one another, different practices would suit different companies. Businesses should avail the best digital transformation advisory service to know what works best for them.

The democratization of Artificial Intelligence (AI)

AI democratization would mean making AI available and accessible to all organizations and people within the organizations. This would require the integration of AI in recognizing user behavior patterns, analyzing data, making decisions and forecasts, improving the products or services, and all other business processes.
Gartner also makes a prediction in this regard stating that 75% of venture capitalists would be leveraging AI by 2025 to make decisions. A deeper AI penetration is therefore opined to take place gradually in all lines of businesses worldwide.

No-touch solutions

After the social distancing norms impelled due to COVID-19, a huge number of businesses are leveraging business process transformation advisory and innovating to come up with contactless solutions. The focus is on solutions that wouldn’t just minimize human-to-human contact but also make the processes brief and instant.
Digital payments characterized by various technologies and QR codes wouldn’t be something rare to see. Since digital payments are a key to access the digital economy, reduce transaction processing time, and improve transaction quality, such contactless solutions would become a new normal.

To sum up, the above-mentioned are the three key trends that are opined to drive business success in 2021. To hear about the remaining trends that are going to impact businesses specifically, partner up with the best digital transformation advisory service providers.

Count on the world’s renowned digital transformation experts

Millennial Partners (millennial.ae) prides itself on serving clients’ most pressing organization transformational needs across people, processes, and technology through its own proprietary frameworks. Our digital transformation offering is most relevant to the increasingly digital enterprise and consumer environments. We follow a coherent roadmap that includes incorporating the most cutting-edge technologies and vendors focusing on technologies such as enterprise Blockchain, Artificial Intelligence, and IoT.

Should you have any questions and/or would like some focused professional advice, please don’t hesitate to reach out via our e-mail at info@millennial.ae.

Blue Ocean Strategy

Build your Go-To-Market Strategy: Insights from the Blue Ocean Strategy

In the current climate, competition is intensifying with many players fighting over a shrinking customer base. With that said, it’s important for businesses to take stock and develop a strategic move that will set them apart from the competition. The Blue Ocean Strategy, developed by W. Chan Kim and Renée Mauborgne, offers a comprehensive framework for businesses to break out of the status quo and move into uncontested market space. 

We’ve laid out the 6 steps that will help to guide your business towards a commercially compelling Blue Ocean Strategy.

Alternative Industries

Assess alternative industries to your own, those that would provide a different ‘means’ to the same ‘end’ for your buyers, and map out the key factors that lead buyers to trade across those alternative industries. Elevate the most critical factors, create new value-add factors and eliminate or reduce all other factors to create a Blue Ocean of new market space.

Strategic Group

Most businesses focus on improving their competitive position within a strategic group (e.g. Luxury vs. Economy). To develop a Blue Ocean Strategy, you should understand which factors determine your buyers’ decisions to trade up or down from one strategic group to another. Blurring the lines between strategic groupscould lead to novel feature sets that appeal to a wider customer base. 

Buyer Group

Competitors typically centre around a common target buyer. However, there is a chain of “buyers” who are directly or indirectly involved in the buying decision (i.e. Distributors, Purchasers, Influencers, and End-users). These buyer groups could hold different views on the value proposition of your product or service. If you shift your focus onto a different buyer group (e.g. Purchaser vs. End-user), you could unlock new value!

Scope of Product or Service Offering

Untapped value is often hidden in complementary products and services. The key is to define the total solution buyers seek when they choose a product or service. A simple way to do so is to think about what happens before, during, and after your product or service is used. At this checkpoint, ask yourself, can you incorporate any of these complementary products or services into your business offerings?

Functional – Emotional Orientation

The appeal of most products or services is governed by its matter-of-fact functional attributes or by evoking an emotional response from the buyer. When businesses are willing to challenge their functional-emotional brand appeal, they often find new market space. 

Trends Over Time

How will a persistent trend change the value to your customers and impact your company’s business model? As you look to future product/service development, question whether your efforts will actively shape your industry trends or will simply follow suit after the trendsetters.

At Millennial Partners, we help to build your strategic vision and can elevate your Go-to-Market Strategy. Our specialist consultants provide guidance by assessing current strategies and their limitations and formulating new approaches that better serve the business through greater alignment with the vision, mission, finances, and resources. 

Should you have any questions and or would like some focused professional advice, please don’t hesitate to reach out via our e-mail at info@millennial.ae.

Digital transformation advisory service

4 Digital Transformation Mistakes to Avoid in 2021

2021 is not like any other year. We are living in a new normal. The immediate demand for agility and connectivity, and considering its long stay in 2020, escalated the need for a greater and more ready adoption of digitization.

For those who are planning to digitize, this year comes with a lot of dos and don’ts. Thus, it is better to seek digital transformation advisory services that can guide you in a challenging journey.

The following are 4 things that must not be done during digital transformation in 2021:

  • Not being proactive and starting at the mere time: 

The best time to transform is not when the traditional processes start affecting your business efficiency adversely. The key to unlocking the benefits of digital transformation lies in being proactive. Planning it comprehensively, running beta tests, and then executing it are some of the ideal steps that businesses must take at the very earliest.

  • Lacking agility:

Being highly responsive to the opportunities and threats is very important if a business doesn’t want the competition to outperform them. The organization must aim at staying active, recognizing and examining the opportunity/threat quickly, understanding its ins and outs, and taking the best measures to mint profits or prevent negative effects characterized by the event.

  • Shifting focus from value creation towards digitization

Following the flock and boarding the digital bandwagon is still acceptable, but businesses must not try to copy the pace. Every business has different resources with different capacities and pace. Copying pace and blindly digitizing can hamper the user experience. Businesses must take care that every implementation in business is aiming at enhancing customer satisfaction. If at some part, the end goal of customer satisfaction is being compromised for digitization implementation, it has the potential to bring adverse effects to the business.

  • Analysis Paralysis, delaying the execution

If your business is constantly planning and not coming to a consolidated decision, it may affect your business. This practice can kick you out of the frontline very soon. So, always be action-ready and never make the planning phase last longer than needed. If the competition takes the lead, a business can lose the chance to be the first comer with a great new strategy or product/service. Rather than constantly analyzing, businesses must follow experimenting and iteration.

Final thoughts:

These are some of the mistakes that you should avoid in 2021. If you are curious to know some more, then leverage business process transformation advisory.

Avail the best digital transformation advisory services by Millennial Partners

Millennial Partners (millennial.ae) prides itself on serving clients’ most pressing organization transformational needs across people, processes, and technology through its own proprietary frameworks. Our digital transformation offering is most relevant to the increasingly digital enterprise and consumer environments. We follow a coherent roadmap that includes incorporating the most cutting-edge technologies and vendors focusing on technologies such as enterprise Blockchain, Artificial Intelligence, and IoT.

Should you have any questions and/or would like some focused professional advice, please don’t hesitate to reach out via our e-mail at info@millennial.ae.

3rd March

Reasons your business needs blockchain integration: Part 2

In the previous part of the blog, we discussed the three reasons why your business should embrace blockchain integration. Let’s discuss more reasons why you should capitalize on the potential of enterprise blockchain solutions for your business.

1.Convenient and Secure Trans-border Payments

Although various innovations have made cross-border payments less of a problem, blockchain along with smart contracts brings decentralization and unparalleled transparency to the system, making it more reliable than ever.

Unlike other modes of payments that may take days or hours, cryptocurrency payments take minutes for settlement. Top banks and money lending corporations have shaken hands with the best business process engineering advisory services to integrate digital money – bringing greater traceability and proficiency in terms of speed, cost, and process.

2. Easy Handling of Sensitive Data

The importance of data in today’s time can’t be overlooked. Top innovation businesses today want to secure their data related to clients or their solutions that are under testing.

By putting the data on the blockchain, it becomes secure and hack-proof. The unbreakable security of the network achieved by the cryptographic algorithms keeps it free of illegitimate activities. Businesses can take advantage of the unsurpassed privacy and security that the blockchain brings.

3. Transparency Increases Customer’s Trust in Business

Today, customers have the power to choose from a wide array of options, more than ever before. They prefer to rely on businesses with transparent operations.

With blockchain, businesses can achieve greater transparency in their operations. Since blockchain brings everything on a distributed ledger that is accessible to everyone on the network, it promotes complete transparency. This builds people’s trust in a business.

Final Thoughts

Apart from the above-mentioned benefits, blockchain is opined to bring endless business opportunities. Since blockchain is still in its infancy, innovators can leverage their creativity and devise their strategic move in the open-ended, clear skies of blockchain possibilities.

If you are planning to develop an enterprise blockchain solution for your business, let’s shake hands.

Leverage our Consultancy for Enterprise Blockchain

Millennial Partners (millennial.ae) prides itself on serving clients’ most pressing organization transformational needs across people, processes, and technology through its own proprietary frameworks. Our digital transformation offering is most relevant to the increasingly digital enterprise and consumer environments. We follow a coherent roadmap that includes incorporating the most cutting-edge technologies and vendors focusing on technologies such as enterprise Blockchain, Artificial Intelligence, and IoT.

Should you have any questions and/or would like some focused professional advice, please don’t hesitate to reach out via our e-mail at info@millennial.ae.

enterprise blockchain solutions

3 Reasons your Business Needs Blockchain Integration

As successful blockchain use-cases (such as digital banking, KYC/AML verification, supply chain, and more) continue to disrupt the market, the technology is gaining considerable popularity globally. Being a specialized consultancy for enterprise blockchain, we are witnessing the increasing adoption of blockchain across various industries – including real estate, healthcare, procurement, finance, and more. 

Here are some of the reasons why businesses are embracing blockchain integration and why your business should harness the potential of blockchain:

  • Working with multiple parties made easier

Such solutions work best for the supply chain management industry. Customized enterprise blockchain solutions can help businesses achieve complete transparency and gain full control over the supply chain.

Blockchain is capable of instilling transparency and traceability in traditional supply chain management. Several businesses can stay connected and update the processes for other parties in the chain. Better coordination results in increased productivity, reduced delays, and increased cost savings.

  • Effective inventory management

Blockchain makes it extremely easy for businesses to keep track of inventory shortages and be proactive. Before blockchain integration, the possibility of accessing real-time data on demand from several consumption points was not possible. 

Now, with the help of blockchain integration and enterprise blockchain solutions, the data from several consumption points can be immediately traced. Businesses can keep the stock ready before the order arrives on their system.

  • Elimination of middlemen

Blockchain can potentially be the technology that can eliminate the need for middlemen. Middlemen are the intermediaries that play their role in deals where sellers can’t trust buyers and vice-versa. 

Blockchain bridges the gap of trust by making the entire process 100% transparent. Records can be accessed by all the stakeholders involved in the processes. This reduces the costs and accelerates the processes.

Final thoughts

Apart from the aforementioned 3 reasons, there are many reasons why a business should embrace blockchain integration and leverage enterprise blockchain solutions.

Enhance your earning opportunities with Blockchain integration; Shake hands with Enterprise Blockchain Consultants at Millennial Partners

Millennial Partners (millennial.ae) prides itself on serving clients’ most pressing organization transformational needs across people, processes, and technology through its own proprietary frameworks. Our digital transformation offering is most relevant to the increasingly digital enterprise and consumer environments. We follow a coherent roadmap that includes incorporating the most cutting-edge technologies and vendors focusing on technologies such as enterprise Blockchain, Artificial Intelligence, and IoT.

Should you have any questions and/or would like some focused professional advice, please don’t hesitate to reach out via our e-mail at info@millennial.ae.

digital transformation advisory service

Why does your business need digital transformation?

Digital transformation is a vast concept. For most businesses, its execution is difficult to handle by themselves. No doubt 88% of businesses rely on experts to transform their operations. Digital transformation advisory services pave the most efficient way ahead for the transformation journey. Digitization experts utilize their knowledge and experience in planning, executing, monitoring and auditing digitization in the organization while helping businesses to focus on their core competencies.

The specific reasons why your business needs digital transformation may vary from case to case. This blog highlights the more pressing reasons as to why your business could need transformation.

  • Mitigated Costs

Digitization is capable of reducing stationary, operational, transactional, and many other costs for organizations. Therefore, the amount you spend on business optimization with digitization is equivalent to the amount saved on business transactions.

Also, since it lends you a competitive advantage, there are more chances of increased sales which would enhance your earnings.

  • Improved Customer Loyalty

The integration of newer technologies into a business model can enhance the capabilities of businesses. More capabilities would strengthen customer strategy as it would enrich their services and help businesses retain existing customers and attract new customers.

  • Enriched Analytics

Artificial intelligence-enabled solutions can track real-life experiences and enrich your analytics. Businesses can leverageArtificial Intelligence consulting services to develop digital solutions that can access and combine data from various customer interactions, employee behaviors, and various other significant sources to deliver a satellite viewpoint of the business.

  • More Focus on Customers

The main motive of an ideal digitization strategy is customer experience enhancement. The technological innovations can help businesses enrich customer service and assistance across all touchpoints, therefore making businesses more focused towards customers.

  • Makes business more agile and adaptive

Business transformation with digitization reduces its dependence on slow, conventional processes. It accelerates the operations and makes your business more responsive to up-to-date market demand and trends.

Final Thoughts:

The aforementioned benefits of digital transformation are all based on things that every business would wish to accomplish within a business transformation venture. Considering that digitization can be a single solution serving various purposes, businesses are better enabled to make informed decisions on where to commit their budgets, time and resources with digital transformation advisory services.

Also, according to a study by global consultancy Capgemini, 87% of businesses considered that digital transformation lets businesses gain a competitive edge in the market.

So, is your business ready to gain an essential competitive edge?

If yes, partner with the best digital transformation advisory services today.

Leverage Digital transformation advisory service to devise the best Digital Transformation Strategy

Millennial Partners (millennial.ae) prides itself on serving clients’ most pressing organization transformational needs across people, processes, and technology through its own proprietary frameworks. Our digital transformation offering is most relevant to the increasingly digital enterprise and consumer environments. We follow a coherent roadmap that includes incorporating the most cutting-edge technologies and vendors focusing on technologies such as enterprise Blockchain, Artificial Intelligence, and IoT.

Should you have any questions and/or would like some focused professional advice, please don’t hesitate to reach out via our e-mail at info@millennial.ae.

business transformation advisory

3 Reasons Why Business Model Innovation is Important

In the last few years, business model innovation, as a concept, has gained considerable popularity. Product or process innovations cannot bring around as much of an impact on the productivity of businesses that business model renovations can. This is why it is beneficial to leverage business transformation advisory to devise business model innovations that have the potential to disrupt the market and improve the sales growth graphs.

The business model depicts how a company operates and what its aims are. It basically conveys the following four integral elements:

  • Target customers
  • Value and benefits that it aims to bring to its customers
  • How is worth created for their customers?
  • Earning model of the company

An ideal business model would clarify the above-mentioned objectives. Business model innovation works on several integral elements of a business. The following example perfectly explains the concept.

An electronic equipment manufacturer modifies its business model and shifts from the sale to sales plus rental. This particular transformation changes its target customers (opens up their customer base to people with lower budgets and transient need), revenue model (‘sales’ in revenue model remain intact and rental income is an addition), process (there would be significant changes in business operations), and a lot more things.

Reasons why business model innovation is integral

  • Improved value creation

Businesses may reach a growth plateau at a particular time if they don’t bring a change in product, process, revenue model, or other important elements. A well-planned business model innovation works on several aspects and therefore is capable of preventing a growth plateau situation. More value can be created with such transformations that lead to increased growth.

  • Difficult for competitors to copy

Business model transformations generally involve major changes and therefore are difficult for competitors to copy. Businesses that have revamped their business models can enjoy a long and extended period of competitive edge.

  • Prepares businesses for market cycle disruptions

Many business model renovations automatically make a business relevant and less sensitive to unexpected market cycle disturbances. The best example in this regard would be businesses equipped with artificial intelligence tools to digitize their processes. During the COVID-19 pandemic, such businesses were more resilient compared to traditional business models.

The above-mentioned are some of the benefits of business model innovations that make digital transformation integral to businesses. If you’re a business planning for something similar, get in touch with seasoned advisory experts at Millennial Partners.

Leverage artificial intelligence consulting services & business transformation advisory to create a digitized, better business model:

Millennial Partners (millennial.ae) prides itself on serving clients’ most pressing organization transformational needs across people, processes, and technology through its own proprietary frameworks. Our digital transformation offering is most relevant to the increasingly digital enterprise and consumer environments. We follow a coherent roadmap that includes incorporating the most cutting-edge technologies and vendors focusing on technologies such as enterprise Blockchain, Artificial Intelligence, and IoT.

Should you have any questions and/or would like some focused professional advice, please don’t hesitate to reach out via our e-mail at info@millennial.ae.

Consultancy for Enterprise Blockchain

How is Blockchain Capable of Redefining the Telecom Industry?

The Telecom industry is one of the most dynamic industries that is continually evolving. It keeps on reinventing its operating models and offerings. From fixed landlines to a data-based revenue model, there were hundreds and thousands of transformations that brought the telecom scenario to where it is today.

Since the revenue in today’s telecom industry comes from data, there is a huge scope for blockchain. The most innovative CTOs and innovation strategists are already planning to deploy blockchain. They are leveraging consultancy for enterprise blockchain to make this transformation, best of the century.

Scope of Blockchain in the Telecom Industry

The distributed ledger technology has incredible, unparalleled capabilities of making data immutable, easily traceable, and verifiable. This core characteristic of technology would enable the telecom industry to set up a fully controlled, secure, and transparent ecosystem. It would ultimately mitigate costs, improve networks, and enhance the experience for almost all key stakeholders of the industry.

Benefits of Leveraging Distributed Ledger Technology in Telecom

  • The blockchain characterizes trust in the systems by making transactions highly transparent. It improves the coordination between different stakeholders in businesses. Furthermore, blockchain eliminates third-party involvement, thereby mitigating costs for businesses in the telecom industry.
  • With the integration of blockchain-powered smart contracts, billing procedures for roaming can be accelerated and improved. This would eliminate any chances of fraud and increase revenue generation opportunities for telecom businesses.
  • The distributed ledger powered by blockchain technology comprises a complete history of transactions. The logged data is immutable and appropriate for generating authentic audit reports.

Conclusion:

Each time, ingenious solutions have paved the way for revenue generation opportunities for the telecom industry. This time, new opportunities would be unlocked with blockchain integration, which is opined to transform the current business models into highly profitable business models.

If you are a maverick in the industry, interested in creating new revenue streams by integrating blockchain into your telecom business, get in touch with seasoned blockchain advisory experts. They would help you with everything – from ideation to enterprise blockchain solution integration.

Leverage services by leading blockchain and Fintech Global Consultants

Millennial Partners (millennial.ae) prides itself on serving clients’ most pressing organization transformational needs across people, processes, and technology through its own proprietary frameworks. Our digital transformation offering is most relevant to the increasingly digital enterprise and consumer environments. We follow a coherent roadmap that includes incorporating the most cutting-edge technologies and vendors focusing on technologies such as enterprise Blockchain, Artificial Intelligence, and IoT.

Should you have any questions and/or would like some focused professional advice, please don’t hesitate to reach out via our e-mail at info@millennial.ae.

enterprise AI solutions

5 Steps to Enhance Customer Experience with Artificial Intelligence

In a customer-centric world, businesses focus on maximizing customer loyalty, advocacy, and satisfaction. If you are a business seeking ways to improve customer experience, the following five steps will guide you on how you can leverage Artificial Intelligence (AI) to deliver a better customer experience.

Step 1: Devise a Customer experience strategy

Before you identify use cases for AI integration or decide what your enterprise AI solutions should ideally do, you must have a well-built customer experience strategy. You must have a clear vision of how better your customer journey should be. If you lack resources who can actively participate in devising such a strategy, you should outsource.

Step 2: Chart out and examine customer journey

Chalk out how customers interact with your business. Prepare a complete sketch demonstrating a complete cycle – from the discovery of product and presales to closing the deal and beyond. Identify key touchpoints and figure out the best way AI can help in enhancing customer experience at those points. You can also seek enterprise digital strategy advisory services to recognize those touchpoints in the current customer journey.

Step 3: Plan integrations with the best AI tools that help in understanding customers effectively

We can’t deny the fact that your organizations already have tons of data collected from sales representatives, basic customer experience assessment tools, social media, and more. According to Gartner, this data isn’t fit to use for assessing real-time insights into customers’ journeys. Businesses can leverage fully-fledged AI solutions that mine, categorize, arrange, and analyze the data that sums up the customer journey.

Step 4: Decide what would be best- to develop AI software from scratch or buy an off-the-shelf solution

Based on your requirements and budget, decide what suits your business- getting enterprise AI solutions developed for your business from the ground up or buying an off-the-shelf solution. If you choose to get it developed, make sure to hire best Artificial Intelligence consulting services to plan its effective development and deployment. On the contrary, if you choose to buy a white label solution, make sure it has all the required features.

Step 5: Track performance

Recognize key performance indicators (KPIs) and then set milestones for performance tracking. Focus on small victories and let their frequency create a momentum for welcoming the bigger ones.

Bonus: Step 6: Leverage the Best Artificial Intelligence Consulting Services

After considering the 5 step methodology, here is a bonus step that should be followed for improving the efficiency of the above-mentioned process. Formulating customer experience escalation strategy, examining customer interactions and engagements, planning effective integrations, getting Enterprise AI solution developed and monitoring, tracking performance can be a daunting task. Partner with best Artificial Intelligence consulting services and it won’t be difficult for you.

Millennial Partners (millennial.ae) prides itself on serving clients’ most pressing organization transformational needs across people, processes, and technology through its own proprietary frameworks. Our digital transformation offering is most relevant to the increasingly digital enterprise and consumer environments. We follow a coherent roadmap that includes incorporating the most cutting-edge technologies and vendors focusing on technologies such as enterprise Blockchain, Artificial Intelligence, and IoT.

Should you have any questions and/or would like some focused professional advice, please don’t hesitate to reach out via our e-mail at info@millennial.ae.