Best Digital Transformation Consulting Providers

Vendor competitive leadership mapping provides information about the major vendors of digital transformation solutions and services and outlines the findings and analysis on how well each market vendor performs within our criteria. The vendor evaluations in Digital Transformation Consulting Providers are based on two broad categories — Product Offering and Business Strategy. Each category carries various criteria, based on which the vendors will be evaluated.

These vendors in Digital Transformation Consulting Providers category have a strong portfolio of solutions and services offering in the digital transformation market. They have been marking their presence in the digital transformation market by offering highly customized and easily deployable solutions for end-use industries, such as BFSI, healthcare, telecom & IT, automotive, education, retail & consumer goods, media & entertainment, manufacturing, government, and others. They also adopt robust business strategies to achieve continued growth in the digital transformation market.

These companies have an innovative portfolio of digital transformation solutions and services, and a strong potential for growth to be at par with the visionary leaders. They have been consistently providing innovative as well as customized digital transformation solutions to their clients. Innovators in Digital Transformation Consulting Providers have been at the forefront in deploying their solutions for niche and custom requests requiring the processing of high-performance workloads.

These vendors in Digital Transformation Consulting Providers have an innovative portfolio of solutions and services, and an extensive network of channel partners and resellers to increase the deployment of their solutions and services across various verticals. Over the years, the dynamic differentiators have been consistently generating positive revenue growth in the digital transformation market, with their market position fueled by the organic and inorganic ventures undertaken.

Emerging companies in Digital Transformation Consulting Providers specialize in offering highly niche and tailor-made solutions and services to their clients. Majority of the emerging companies have been undertaking multiple acquisitions and increasing their sales capabilities across regions to offer integrated services to a wide range of clients.

The digital transformation market, based on vertical, has been segmented into Banking Financial Services & Insurance (BFSI), healthcare, telecom & IT, automotive, education, retail & consumer goods, manufacturing, government, and others. The others segment includes verticals, such as transportation & defense, aviation, and hospitality. The adoption trend of cloud-based solutions, mobility, big data & analytics, and social media varies in different verticals. In the BFSI vertical, consumers need real-time access to their accounts and transaction records. There is a high channel migration in banking, wherein customers are increasingly relying on digital channels, such as tablets, smartphones, and laptops to meet their banking requirements. The healthcare segment is gradually adopting digital transformation practices, such as cloud computing and big data & analytics for management of electronic health records and healthcare information management. The major challenge in the healthcare sector is the lack of standardized data, where 80% of the medical data is unstructured. Therefore, the healthcare and BFSI sectors offer huge growth opportunities for service integrators, research and consulting vendors, data management vendors, security providers, and hardware integration service providers to employ and manage digital transformation solutions. Automobile manufacturers across the globe are focusing on the development of innovative solutions, which help add value for their clients and differentiate their products.

BANKING FINANCIAL SERVICES & INSURANCE (BFSI) The BFSI vertical makes use of high-end digital technology to make transactions secure, simple, and error free. The development of financial services and technologies, such as mobile banking applications, omnichannel banking, and digital banking analytics helps customers to streamline and automate digital banking operations. The development of advanced technologies has led to an increased need for the integration of data from websites, web portals, and mobile-based apps, which can be achieved with the help of digital transformation. The use of cloud computing in the BFSI sector results in reduced costs and improved flexibility, as there is no requirement for investment in new hardware or software.

HEALTHCARE The healthcare vertical has witnessed a considerable growth in terms of use of digital transformation practices, such as cloud, big data & analytics for management of electronic health records and healthcare information management. Presently, customers in the healthcare vertical are connected and informed regarding health issues and practices. Digital transformation solutions help the efficient flow of data in the healthcare industry ecosystem. One of the major challenges in the healthcare vertical is the lack of standardized data, as over 80% of the medical data is unstructured. A significant portion of the data generated in this vertical is in the form of images from patient’s scans, conversations about healthcare issues and practices in social media, and information from monitoring devices. Big data & analytics is used for predictive analysis to generate insights by integrating all the data related to a patient. The use of digital transformation in healthcare organizations also involves predicting trends in the healthcare sector and evaluating effective treatments.

RETAIL & CONSUMER GOODS Presently, retailers are using the web, e-commerce, and various applications to retain and attract their customers digitally. Digital transformation requires seamless integration of customer services, merchandising, pricing, inventory, and supply chain processes, which enables shoppers to save time and maximize convenience. Cloud solutions enable retailers to have centralized item and customer information databases, and flexible distribution systems to help customers receive orders. A majority of the consumers own smartphones, which can be used as barcode scanners to view product information. Social media and mobile technologies give manufacturers and retailers more direct and informal access to their customers.

Digital transformation solutions are categorized into cloud computing, big data & analytics, mobility, disruptive technology and social media. Cloud computing offers a significantly cost-efficient deployment model, as it includes price per user or per month model.

Big data & analytics has the potential to transform unstructured data into valuable insight for end users, such as government, commercial organizations, and even niche sectors. Big data is used in various applications, such as consumer risk modeling, portfolio analysis, fraud detection, demand forecasting, vendor rating analysis, lead time analysis, log analysis, packet inspection, supplier intelligence, traffic management, casino management.

Presently, mobile devices are a preferred medium to access the internet, enterprise data, and personalized information. Organizations are required to manage on-premise as well as mobile devices, applications, and content. The customer insights gathered from multiple social media sources/websites, such as LinkedIn, Facebook, Twitter, and others are a few important touchpoints for customer analysis via social media.

Digital transformation software offers a solution to manage distributed systems that support and simply complex applications. These systems can include web servers, application servers, among others.

CLOUD COMPUTING

Cloud computing solutions are cost-efficient, as these solutions can be deployed even with a basic on-premise IT infrastructure. In cases where a company’s data centers are insufficient to handle all its IT requirements, cloud services can enhance its IT capabilities without the need for large investments for new data centers. In addition to reducing the purchase, installation, and operational costs for IT resources, cloud services reduce costs and staff expenditure by reducing the need to monitor computer systems and secure data. Cloud computing solutions require a low initial investment and employ a pay-as-you-go approach where the amount consumers need to pay is determined by the degree to which services are used and the type of services used. The cloud-computing model facilitates on-demand procurement of services, such as Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS). Thus, cloud computing offers enterprises several benefits, such as pay-as-use, faster time-to-market, and on-demand elastic infrastructure.

BIG DATA & ANALYTICS

The big data & analytics concept has dramatically improved enterprise data management and has brought greater accuracy and clarity in prediction and analysis. The rise in the amount of unstructured data from several sources and the need to optimize large workloads of data has led to various advancements in big data & analytics solutions. However, the lack of skilled personnel and the absence of robust security measures and solutions may inhibit advancements in big data solutions in the coming years. In recent years, extensive efforts by key vendors in the ecosystem have led to the establishment of advanced training and learning centers, and the launch of various certification courses to overcome these challenges.

MOBILITY

Mobile devices are widely used to access the internet, enterprise data, and personalized information. However, the requirement of every organization is unique, in terms of control over devices, applications, and content. Therefore, based on the specific nature of the requirement, organizations customize their mobility solutions. Mobility solutions are being rapidly adopted in organizations across several industry verticals. The mobility market is expected to witness a tremendous growth during the forecast period, driven by factors such as expanding mobile workforce leading to rising to Bring Your Own Device (BYOD) trend, rising security concerns, and proliferation of mobile applications and the resultant need to ensure strict adherence to well-defined regulatory and compliance measures.

DISRUPTIVE TECHNOLOGY

Disruptive technologies have the potential to reshape the digital transformation market. These technologies play a key role in transforming business processes with less effort and increasing the revenue of an organization. Disruptive technologies include Internet of Things (IoT) and Artificial Intelligence (AI) solutions.

INTERNET OF THINGS (IoT)

Organizations adopt advanced technologies, such as the Internet of Things (IoT) to achieve successful digital transformation. IoT is an interconnected system of devices/objects which communicate with each other to perform various business functions. IoT generates a substantial amount of data that needs to be deposited, managed, and analyzed efficiently. The insights obtained after analysis of data are used to drive actionable steps that can improve business operations.

The concept of IoT has helped organizations across various industry verticals to increase operational efficiency and provide proficient customer service. IoT-based technology solutions enable companies to increase the operational efficiency of business processes through real-time monitoring. It has bridged the gap between remote monitoring and collaborative functioning.

BLOCKCHAIN TECHNOLOGY

Blockchain technology has transformed the way of working for many industries, such as banking, finance, and healthcare. Blockchain technology is a decentralized and shared digital distributed ledger that records the cryptocurrency transactions, such as bitcoin and ether, in the form of “blocks.” Each time a block gets completed, a new block is generated, which is linked to each other in a proper linear, chronological order like a chain, with every block containing a hash of the previous block. Blockchain technology is transparent & immutable, helps in fast transactions, and reduces the total cost of ownership.

Furthermore, this blockchain technology is mostly used in the banking financial services & insurance (BFSI) vertical. The key opportunities in the blockchain technology, in the coming years, would be disruption in technology across various industries, high adoption of blockchain technology for payments, smart contracts, and digital identities.

ARTIFICIAL INTELLIGENCE (AI)

Artificial intelligence (AI) is an umbrella term used for technologies, such as natural language processing, machine learning, and expert systems. The AI technology can perform tasks that usually require human intelligence. Organizations have significantly changed the way they conduct their businesses by adopting advanced technologies, such as AI. The emergence of AI has transformed the way in which data is collected and analyzed. The technology builds data models automatically in digital forms. AI also collects data from multiple sources and uses the information as a knowledge store, which can help businesses in several ways, such as identify and analyze buying patterns and trends or predict the needs of consumers to boost customer experience.