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Technological developments emerged as the first driver, with 31% of the surveyed professionals recognizing its pivotal position in accelerating change. The influence of accelerating globalization (20%), data-driven decision-making (16%), and altering shopper expectations (16%) had been additionally important drivers of change.
The survey additional explored the first approaches adopted to deal with these challenges. Innovation and experimentation (22%), agility and suppleness (19%), steady studying and upskilling (15%), future-proofing methods (12%), and course of enchancment (11%) had been the important thing methods employed by professionals within the trade.
In response to altering shopper calls for, respondents highlighted high quality and consistency (26%), measurable ROI (13%), data switch and functionality constructing (12%), innovation and thought management (11%), and worth transparency (10%) as the highest priorities.
The survey additionally uncovered challenges confronted by organizations in balancing effectivity with scalable progress. Consumer acquisition and retention (17%), pricing and payment construction (16%), operational effectivity (15%), demand volatility (14%), and expertise administration (13%) had been recognized as the main hurdles.
To deal with these challenges and embrace the alternatives offered by transformation, organizations are more and more turning to expertise options. Among the many most sought-after software program capabilities had been information analytics/insights (19%) and data administration/experience sharing (19%). Enhanced decision-making assist (13%), automation (12%), and personalised shopper experiences (13%) had been additionally acknowledged as essential parts for reaching effectivity and scalable progress.
“It is extra pressing than ever for PSOs and consulting corporations to steadiness effectivity with scalable progress in continually altering macroeconomics and market dynamics,” stated Michael Speranza, CEO of Kantata. “The continued adoption of rising applied sciences, comparable to synthetic intelligence and vertical SaaS options, will play a major position to find that steadiness. PSOs that leverage purpose-built expertise successfully can keep forward of the competitors, higher have interaction their assets, exceed shopper expectations and enhance effectivity for achievement in the present day and tomorrow.”
Methodology
The analysis carried out by Censuswide was within the area in July 2023. The 129 respondents had been administrators, determination makers and C-Suite executives who work throughout varied industries in skilled companies organizations in the USA.
SOURCE: Kantata
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