According to the Digital Economy and Society Index (DESI) 2022, Italy occupies the eighteenth position in the ranking of the digital transformation of companies in the EU countries. DESI is the most complete measure of the degree of use of new technologies in companies and the data of our national performance is not comforting, although the analysis of the ranking improves significantly if we focus on SMEs, the backbone of our economy.
The lesson to be learned is that – in a fierce market and increasingly oriented towards new technologies – digital transformation is fundamental. The keys to addressing the challenges lie in interpreting data, simplifying operations, increasing efficiency, managing costs, amplifying security, and ultimately improving the customer experience. In this context that changes radically and constantly, embracing innovation (anticipating the market and doing it on a large scale) is essential to grow and improve competitiveness. Automation, machine learning, data mining, design thinking and artificial intelligence are no longer ancillary elements, but critical success factors.
The digital-first approach, with Vector
It is not a process that involves a single phase or that involves only certain departments of the company: the digital transition often involves a change in every aspect of the processes and in the corporate culture and may require the reformulation of the mission of the company itself. Technology, therefore, but also the way people look at technology, from management to customers.
Bain & Company knows this well, which a few years ago launched Vector, a digital delivery platform created to promote innovation and accelerate the digital revolution, making sure that digital capabilities are the driving force behind every action of a company.
Bain’s experience, gained on over 6,500 projects carried out in the Vector field globally, extends to various aspects related to technology: data science, smart automation, prototyping, digital marketing, enterprise technology. These aspects are crucial, not to sell digital services to companies, but to “make them” digital in the approach to any challenge. Bain’s offering boasts over 30 products that make up an ever-expanding ecosystem at the service of client companies. In our country, Vector Italy employs over 100 resources, of which half are data scientists, innovation experts and designers.
“Italy has a central and pioneering role in the world of research, innovation and development – says Emanuele Veratti, Partner and leading digital practice of Bain & Company – Considering the incidence of Venture Capital investments with respect to GDP, the market Italian has significant growth potential. Investments in digital can further enhance this strength of our country and we aim to concretely create a link between those who propose these ideas and the real needs of companies, inserting digital models in all the company’s activities and promoting their diffusion among all departments. There are many initiatives through which to date we have placed ourselves as a trait d’union between these interlocutors, to help them promote their innovative ideas in the best possible way ».
Today forward, future back: Bain’s support for companies
To be in step with the global trend and effective in the proposals to its customers, Bain has adopted the “today forward, future back” methodology, anticipating the future and imagining it as a goal, putting into practice innovative processes to start making progress in the direction of that goal. The prerequisites for these advances are the analysis of the customer’s primary needs, the penetration of digital transformation at all levels of the company organization and perfect coordination capable of taking the entire company from the experimental phase to the real digital transformation.
Bain’s support to companies is therefore 360 °, and extends from the development and delivery of customized training programs at all levels of the client’s organization, to the identification and management of potential use case supported by machine learning. Not only that: also development of Business Intelligence and artificial intelligence solutions for the organization of data and the development of strategic projects (e.g. data mining of social media) to introduce new elements in the offer portfolio.
«Digital – continues Veratti – offers the market and our customers great opportunities and as many challenges, which we want to seize with a distinctive and transversal approach, having integrated digital into our way of working at all levels. Already 50% of the projects we develop integrate digital in our strategic recommendations and we expect that, within two years, these will reach the majority. “
Il Digital Innovation Hub
To concretely respond to requests to combine the theoretical recommendations on the subject of digital transformation with practical application, Bain launched – already at the end of 2020 – a Digital Innovation Hub. The 700 square meter space inside the Milan offices is not only the digital reference point for Italy, but also the core of the group’s commitment on this front in Mediterranean Europe. The space, which is proposed as a center of excellence for digital services, is also dedicated to the contamination between young entrepreneurs, startups and the company’s over 200 customers, belonging to the most varied product sectors. strengthening the value chain of strategic consultancy and integrating in digital transformation plans also the possibility of realizing the technological and development solutions that it proposes to its customers during the transformation process.
I Digital (R)evolution Awards
The digital area represents a fundamental and complex cog for every company, which requires significant investments and continuous comparison on priorities. Precisely for this reason, Bain & Company will organize its first Digital (R) evolution Awards in Milan on 8 November, with the aim of encouraging system digitization between the various industries. It will be an exclusive day of meeting and discussion on innovation and digital trends. During the discussion day, many topics will be dealt with: from the evolution of communication methods, to data and new ways of interacting with brands, to the development of influencer marketing, to sustainability initiatives supported by digital. Finally, at the end of the evening, Bain will award the best digital performers, among companies from all sectors and in particular in three areas: Digital Marketing, Digital Customer Experience and Digital ESG.