Eye EYE (c) 2016 Pixabay / cocoparisienne https://pixabay.com/en/eye-blue-eye-iris-pupil-face-1173863/ Several interesting pieces of research were published this week. They included a report by SAPInsider, sponsored by Precisely and Esker that look at the secrets behind supply chain resiliency and automation. Infosys Research looked at how investment in environmental, social, and governance issues correlates with higher profits.

Accenture

Accenture published three pieces of research last week looking at federal programs, sustainability in Oil & Gas and sustainability across supply chains.

According to a new report from the Partnership for Public Service and Accenture Federal Services, Federal agencies must align their systems with how customers live their lives to deliver a simple, seamless, and secure customer experience (CX) that cuts across multiple programs and agencies.

The second report, titled “The Reinvention Reset — From Bold Plans to Pragmatic Actions,” focuses on identifying the executives’ plans to reinvent their companies according to a “5C” model, encompassing competitiveness, connectivity, carbon, customer and culture.

Muqsit Ashraf, a senior managing director at Accenture, leads Accenture Strategy and the company’s Energy practice. “Faced with a host of disruptions — from longstanding underinvestment in production to the effects of the pandemic and the war in Ukraine — oil and gas companies must bolster their reinvention efforts now. An enterprise-level approach is crucial. Companies might be tempted to pay less attention to non-hydrocarbon investments because energy security in the near-term depends on maintaining oil and gas production, but balancing near-term energy security and longer-term energy sustainability will be key to their ability to compete and deliver 360o Value.”

The third report examines carbon-intensive “hot spots” in supply chains across supplier tiers, identifying where greenhouse gas (GHG) emissions are significantly higher and potentially more difficult to reduce. It found that data model mapping relationships between industries and countries provide better visibility in complex supply chain networks, enabling more effective strategies to significantly reduce Scope 3 emissions by 2050.

ActiveCampaign

The ActiveCampaign’s 2022 Black Friday Weekend Report highlighted insights gleaned from ActiveCampaigns data from the weekend. It found Small Business Saturday had the highest increase in recovered orders at 134%. Those recoveries were powered by tools on the ActiveCampaign platform, including abandoned cart tool, new product arrival automation recipes and transactional email automations.

Black Friday sales may be cooling, with revenue decreasing by 7% and revenue per order decreasing by 10%. Finally, the orders on Sunday after small business Saturday increased 197% from last year and recovered order total revenue increased 171%

Jason VandeBoom, founder and CEO of ActiveCampaign, commented, “Competition is higher than ever this year when it comes to fighting for consumer loyalty and breaking through the noise to earn their business this holiday season. That’s why it’s important to exceed customer experience expectations not just this time of year, but consistently, to earn their trust year-round. Consumers have come to expect a certain amount of personalization in brand messages so it’s important to use automation to take experiences past expectations, creating wow at the moments that matter.”

insightsoftware

Research from insightsoftware showed that data quality is the biggest challenge organizations face when making data-driven decisions. The 2022 State of Analytics: Quest for Data Fluency asks businesses about their attitudes toward data literacy, the problems they face, and how close they are to reaching “data fluency,” the ability to fully understand data and information and garner insights to enhance the decision-making process.

Key findings included the following:

  • 39% of respondents cited “completeness,” or a lack of comprehensive data, as an issue
  • 38% see consistency as an issue
  • 35% cited accuracy as a major challenge

Monica Boydston, vice president, product management at insightsoftware commented, “As workforces shift to hybrid environments, businesses will continue to adopt cloud technology and as-a-service solutions. When these new solutions operate in tandem with legacy systems, the result is a large pool of data from multiple sources — ’polluted’ data that requires cleaning. Doing this takes time away from the critical work of gathering business intelligence. We can’t eliminate errors and inconsistencies, but there are tools that can make things easier, paving the way for teams to achieve data fluency.”

Mendix

Research from Mendix found that firms implementing innovation as a daily practice have a greater chance of completing digital transformation. Highlights included:

  • Global firms across economic sectors are expected to spend more than $10 trillion on digital transformation initiatives, yet more than 70% will fail
  • In today’s accelerated, digital-first economy, revenue growth for digitally empowered enterprises is 1.8 times higher than for digital laggards
  • A proven roadmap for successful digital transformation combines the power of rapid software development with a process emphasizing people, portfolio assessment, and enterprise-wide strategic alignment

Nick Ford, chief evangelist at Mendix, commented, “The underlying premise of digital transformation is about creating the future without the constraints of the past. Innovation happens not just by creating something entirely new, but also by improving what already exists. It’s no surprise that most enterprises try to jump start this effort with technology. That’s important, but the key to success starts with people — the team makeup, the company culture, the business case and product vision, deadlines and risk factors. At Mendix, we describe how digital transformation begins with a holistic self-assessment of an enterprise’s people, portfolio, process, and platform. What this means is that a single initiative — no matter how brilliant — if undertaken by a committee working in isolation and greenlighted by the most well-meaning stakeholder will not lead to transformational benefits.”

MYOB

MYOB surveyed 496 startup founders to discover more about the origins of their COVID born venture. 3 in 10 started their firms whilst working in another job. For 75%, this was the first firm they founded. Emma Fawcett, GM SEM, believes the findings indicate Australians’ entrepreneurial spirit and ability to grasp an opportunity.

Fawcett commented, “We know COVID created incredibly demanding conditions for many business owners, so it’s positive to see that the pandemic actually afforded some people with a little more freedom, allowing them to take the plunge with their startup.

“Having so many profitable in their first year, despite the majority of survey respondents being first-time business owners, speaks to the quality of innovation driving these pandemic-born startups.”

The survey also looked at the challenges currently faced by these startups. The top three challenges were:

  • An inability to attract new customers or sales (39%)
  • The lack of growth opportunities (25%)
  • Consumer trust in the business compared to competitors (20%)

Fawcett concluded, “Embedding strong business processes early on will help business owners with visibility and planning to give them the best chance of success.

“Improved business processes would ease stress for 52% of respondents, and we’re hoping to ease some of that stress with free access to our New Business Basics course for new businesses that subscribe to MYOB Business Lite.

“It’s pleasing that despite the difficulties faced by the business community over the past few years, there has been some opportunity allowing startup founders to build new businesses.”

Nexthink

Nexthink published a new study, “IT’s Big, Expensive, Software Experience Problems”. It reveals the startling lack of understanding IT has around employee adoption and usage of applications.

  • 22% of IT executives surveyed claimed that ‘total software spend’ was their most pressing issue
  • 13% reported ‘shadow IT’ (employee use of unapproved apps and services) as a pressing issue

Only 5% of respondents reported having complete visibility into the total number of employees that adopt and use company-approved applications — leaving roughly 95% of IT leaders in the dark, wondering whether their employees use the tools they’ve been provisioned.

Yassine Zaied, chief strategy and marketing officer at Nexthink, noted, “Set aside the security concern for shadow IT – this creates a lot of spending waste on unused licenses. At a price of $100 per application license for 10,000 licenses, if 500 employees aren’t using their license seats, that’s almost a million dollars each year that could be taken back and reallocated. Software licenses can easily eat large portions of a budget unnecessarily, which is why IT needs the visibility to see this and take appropriate action.”

Qualtrics

A new Government Experience Trends Report from Qualtrics shows the opportunity for government agencies to improve customer and employee experiences. The report covered the view of citizens and government employees. It found:

  • 72% of those seeking government services say that government organizations must do a better job of listening
  • 47% of government employees report that their senior leadership values diverse perspectives
  • 61% of US respondents reported being satisfied with their government, 16 percentage points lower than the global cross-industry average
  • Only 62% reported that they trust their government, 12 percentage points lower than the global cross-industry average
  • Only 57% of government employees reported their career goals can be met at their organization
  • Only 33% of government employees believe their pay is linked to performance, 17 percentage points lower than the global cross-industry average

Dr Sydney Heimbrock, chief industry advisor for government at Qualtrics, commented, “Governments around the world, including ours in the US, are at a critical moment of opportunity to strengthen their institutions. The key to this is bringing a human-centered, customer and employee focus into their organizational DNA. These findings show that by committing to better listening and engagement across communities – and investing in technology that enables intelligent, automated actions – governments can be best equipped to navigate this environment of uncertainty and better serve all – both employees and the public.”

TechnologyOne

According to the TechnologyOne 2022 (Australian) Local Government Digital Transformation Index, released this month, 35% of the organisations surveyed said customer-facing reasons were the main drivers of digital transformation. 76% believe their communities want them to be more digitally progressive. That customer experience outweighs issues such as reducing costs, improving compliance, and even cybersecurity shows local government’s challenges.

Peter Suchting, General Manager for Local Government at TechnologyOne, commented, “You would expect cyber-security, and in particular data privacy, to be much, much higher on the list of considerations when asked these questions again next year. After all, councils are entrusted with some highly sensitive personal information. We’re already seeing strong signs of this change.

“The events of the last three years; the bushfires, COVID and then floods; have reminded everyone of the central role councils play in communities. We all, as community members, have very different expectations of our councils than a few years ago.

“At the same time, councils are also setting the service bar higher and benchmarking themselves against other service organisations. They often find the road to improved customer experience invariably starts with improving the underlying technology.”

Visier

A survey by Visier found that December is the most stressful month of 2022 for half the workforce within the UK. 36% of Brits feel more stressed about the festive season this year when compared to last year. The reason is the changes that have occurred over the last year, such as the cost of living crisis, cited by 79%. This has impacted the inability to afford presents, cited by 55% and concerns about redundancies in the new year. 67% of workers also feel burnt out, with 57% saying they are more burnt out than last year.

Ian McVey, EMEA MD at Visier, says, “Stress is a major issue at work, and the repercussions can be huge for business performance. December should be a time of celebration, a time to unwind, spend time with the family, and celebrate the successes of the past year. But 2022 has not been a normal year. Understandably, employees are tired, and feeling concerned about the current economic climate we find ourselves in. The challenge for businesses is the knock-on impact that these feelings of fatigue will be having on employee morale, and overall business performance.

“Employees will look to their employers for support, direction and reassurance through the turbulent times ahead. Businesses must understand how teams are feeling, and engage employees in conversations about burnout – including the importance of taking time off – using workplace tools to gauge their stress levels. Leaders, including line managers, can then also work with individuals to reduce work-related exhaustion and provide support where it is needed most.”

McVey gave two tips to manage employees at this time:

  1. Communicate openly and honestly with your team
  2. Ignore wishful thinking and trust the data

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