Common Problems
Recent research by PWC here in the UK found that two thirds of businesses planned to cut costs over the next 12 months. However, less than 30% of previous cost cutting programmes hit their targets, and less than a fifth of those could demonstrate any sort of sustained benefits over a three year period.
Furthermore whilst many organisations prove adept at cutting costs the challenges remain around how to do this without reducing the customer experience or the organisation’s ability to innovate and grow.
The overriding challenge for most businesses is therefore around creating a sustainable growth strategy that is underpinned by the development of ongoing operational efficiencies driven by analysis and data. Increasingly the challenges are overcome through increasing uses of business process automation however the ability of leadership teams to interpret data and make the “right” decisions remains a crucial part of the equation.
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