Research insights: Harvard Business Review Analytic Services in association with the Genpact Research Institute: Accelerating The Pace and Impact Of Digital Transformation A single view of the customer 25% 55% HEALTHCARE AND LIFE SCIENCES COMPANIES NEED TO OVERCOME SOME BARRIERS... CHANGE MANAGEMENT AND LEADERSHIP SKILLS KEY SKILLS FOR HARNESSING DIGITAL IN HEALTHCARE AND LIFE SCIENCES HEALTHCARE AND LIFE SCIENCES COMPANIES EXPECT BENEFITS FROM DIGITAL But can organizations live up to the expectations? … BUT 52% EXPECT EVEN MORE IMPACT IN TWO YEARS HEALTHCARE AND LIFE SCIENCES COMPANIES YET TO DELIVER SUBSTANTIAL IMPACT FROM DIGITAL Only 12% of healthcare and life sciences organizations - the digital leaders - are reaping full value from digital of companies from healthcare and life sciences have middle and back offices that support the front office in supporting customer expectations of digital leaders report good alignment, indicating scope for improvement Customer needs are not supported from the back office to the front but 20% 42% Technical knowledge and capabilities Ability to adapt to change Ability to lead 77% 14% 43% 25% 18% 11% 15% 8% 26% 37% [ 1 st ] [ 2 nd ] [ 3 rd ] 66% 54% THE KEY TO DIGITAL SUCCESS DOES NOT LIE IN TECHNICAL ACUMEN By following the characteristics and methods adopted by digital leaders, companies can realize their high expectations. A Lean Digital approach enables success by combining: • Business domain expertise • Design thinking • Lean practices • Digital technologies and analytics The result? A laser-sharp view of what matters, and the minimum level of change required to deliver business impact. This is digital that works. 1 65 respondents from the healthcare and life sciences industry, from a survey of 682 senior executives conducted by Harvard Business Review Analytic Services in association with Genpact 2 Digital leaders are respondents who state that their organization is achieving significant positive business outcomes as a result of its use of digital technologies (rated 8-10 on a 1-10 scale, 1 – not at all, 10 – to a great extent); digital laggards rated 1-4 % of respondents About Genpact Genpact (NYSE: G) stands for “generating business impact.” We are a global leader in digitally-powered business process management and services. Our Lean Digital SM approach and patented Smart Enterprise Processes SM framework reimagine our clients’ operating models end-to-end, including the middle and back offices – to deliver growth, efficiency, and business agility. First as a part of GE and later as an independent company, we have been passionately serving strategic client relationships including approximately one-fifth of the Fortune Global 500, and have grown to over 75,000 people. The resulting domain expertise and experience running complex operations are unique and help us drive choices across technology, analytics, and organizational design. Read the full report http://www.genpact.com/lp/accelerating-the-pace-and-impact-of-digital-transformation Follow Genpact on Twitter, Facebook, LinkedIn, and YouTube. © 2016 Copyright Genpact. All Rights Reserved. 94876-HBR Infographic - Industry wise repurposing - Healthcare and life sciences 112216_191016 Healthcare and life sciences Leaders 1 LEAN DIGITAL SM Customer loyalty 35% 57% Revenue growth 34% 62% Optimizing the cost of serving customers 68% 80% Internal efficiencies 55% 75% TODAY IN TWO YEARS Healthcare and life sciences 1 companies yet to realize significant impact from digital, but they can learn from the digital leaders 2 Technical knowledge also important HOW ARE 12% OF HEALTHCARE AND LIFE SCIENCES COMPANIES MAKING DIGITAL WORK? ...AND BUILD SOME CAPABILITIES... Inability to experiment quickly Enterprise wide digital strategy Risk averse culture Partners with domain knowledge to design and implement digital solutions Legacy systems and processes Use of metrics Inability to work across silos Effective design and implementation approaches Change management Rely on digital natives 48 29 23 32 23 29 46 40 45 45 54 77 38 70 62 60 31 29 37 65 Read the full report http://www.genpact.com/lp/accelerating-the-pace-and-impact-of-digital-transformation
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Research insights: Harvard Business Review Analytic Services in association with the Genpact Research Institute: Accelerating The Pace and Impact Of Digital Transformation
A single view of the customer
25%55%
HEALTHCARE AND LIFE SCIENCES COMPANIES NEED TO OVERCOME SOME BARRIERS...
CHANGE MANAGEMENT AND LEADERSHIP SKILLS KEY SKILLS FOR HARNESSING DIGITAL IN HEALTHCARE AND LIFE SCIENCES
HEALTHCARE AND LIFE SCIENCES COMPANIES EXPECT BENEFITS FROM DIGITAL
But can organizations live up to the expectations?
… BUT 52% EXPECT EVEN MORE IMPACT IN TWO YEARS
HEALTHCARE AND LIFE SCIENCES COMPANIES YET TO DELIVER SUBSTANTIAL IMPACT FROM DIGITAL
Only 12% of healthcare and life sciences organizations - the digital leaders - are reaping full value from digital
of companies from healthcare and life sciences have middle and back offices that support the front office in supporting customer expectations
of digital leaders report good alignment, indicating scope for improvement
Customer needs are not supported from the back office to the front
but20%
42%
Technical knowledge and capabilities
Ability to adapt to change
Ability to lead
77%14%
43%
25% 18% 11%
15% 8%
26% 37%
[ 1st ] [ 2nd ] [ 3rd ]
66%
54%
THE KEY TO DIGITAL SUCCESS DOES NOT LIE IN TECHNICAL ACUMEN
By following the characteristics and methods adopted by digital leaders, companies can realize their high expectations.
A Lean Digital approach enables success by combining:• Business domain expertise• Design thinking• Lean practices• Digital technologies and analytics
The result? A laser-sharp view of what matters, and the minimum level of change required to deliver business impact. This is digital that works.
1 65 respondents from the healthcare and life sciences industry, from a survey of 682 senior executives conducted by Harvard Business Review Analytic Services in association with Genpact
2 Digital leaders are respondents who state that their organization is achieving significant positive business outcomes as a result of its use of digital technologies (rated 8-10 on a 1-10 scale, 1 – not at all, 10 – to a great extent); digital laggards rated 1-4
% of respondents
About GenpactGenpact (NYSE: G) stands for “generating business impact.” We are a global leader in digitally-powered business process management and services. Our Lean DigitalSM approach and patented Smart Enterprise ProcessesSM framework reimagine our clients’ operating models end-to-end, including the middle and back offices – to deliver growth, efficiency, and business agility. First as a part of GE and later as an independent company, we have been passionately serving strategic client relationships including approximately one-fifth of the Fortune Global 500, and have grown to over 75,000 people. The resulting domain expertise and experience running complex operations are unique and help us drive choices across technology, analytics, and organizational design.
Read the full report http://www.genpact.com/lp/accelerating-the-pace-and-impact-of-digital-transformation
Follow Genpact on Twitter, Facebook, LinkedIn, and YouTube.
© 2016 Copyright Genpact. All Rights Reserved.94876-HBR Infographic - Industry wise repurposing - Healthcare and life sciences 112216_191016
Healthcare and life sciences Leaders1
LEAN DIGITALSM
Customer loyalty35%
57%
Revenue growth34%
62%
Optimizing the cost of serving customers
68%80%
Internal efficiencies55%
75%
TODAYIN TWO YEARS
Healthcare and life sciences1 companies yet to realize significant impact from digital, but they can learn from the digital leaders2
Technical knowledge also important
HOW ARE 12% OF HEALTHCARE AND LIFE SCIENCES COMPANIES MAKING DIGITAL WORK?
...AND BUILD SOME CAPABILITIES...
Inability to experiment quickly
Enterprise wide digital strategy
Risk averse culture
Partners with domain knowledge to design and implement digital solutions
Legacy systems and processes
Use of metrics
Inability to work across silos
Effective design and implementation approaches
Change management
Rely on digital natives
4829
23
32
23
29
46
40
45
45
54 77
38
70
62
60
31
29
37
65
Read the full report http://www.genpact.com/lp/accelerating-the-pace-and-impact-of-digital-transformation
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