Digital Transformation Consultants in 2024: Landscape Analysis
Digital transformation is disrupting industries and companies with digital expertise or an IT personnel deficit. These companies may need to work with digital transformation consulting companies to facilitate change at work. A typical digital transformation consulting service includes
- Formulation of digital strategy by potentially following one of digital transformation frameworks
- Identification & implementation of digital solutions (e.g. off-the-shelf solutions)
- Building new digital solutions (e.g. custom AI solutions)
- Resolving other bottlenecks in the company (e.g. digital transformation requires culture change)
This article outlines the digital transformation consulting industry landscape including an in-depth analysis of digital consulting company types and industry-specific digital consultants:
Emerging digital transformation consulting companies with innovative approaches
There is a new category of consultants that rely on your company’s data to suggest which areas your company should focus on.
Bandwitt is an emerging consultancy that works with local Fortune 500 as well as SMEs to help them identify areas of digitalization and select digitalization partners.
Founded by BCG alumni, Faethm.ai works with Fortune 500 and governmental organizations and benchmarks their data to identify areas of digital transformation they should invest in.
Established digital transformation consulting companies
Established management consulting companies are active as digital transformation strategy consulting companies as well. With the increasing interest in digital and new competitors entering the market as digital consultants are making management consulting companies rebrand themselves as digital consultants. For example, we were surprised to see that McKinsey featured Forrester’s, an Industry Analyst, assessment of digital transformation companies on its front page. Normally, companies like McKinsey are reluctant to include any references to competitors on their websites.
Feel free to check our sortable and transparent list on established digital transformation consultants to explore all vendors in this category.
Specialized digital transformation companies
AI consulting is especially valuable in solving problems that can be solved with clear rules.
Machine learning is different than typical software projects. While most software relies on rules programmed by humans, machine learning/AI software relies on rules identified within data sets. Therefore, AI consulting services require working with consultants experienced in the topic. There are already public companies like Palantir in this area.
HR transformation consulting
HR, with its role in shaping a company’s culture and talent, needs to be at the core of an enterprise digital transformation strategy. HR transformation companies mostly focus on implementing digital tools to ease the recruiting and onboarding processes while training existing employees with digital HR best practices. Some consultants are
- Flexso for People
- HR Path
Financial service transformation consulting
The processes and products of the financial services industry are different than those in other industries. Therefore specialization is necessary to support the transformation of financial services companies.
Digital Disruptions is a strategy and design innovation consulting firm, with a focus on fintech and digital financial services (DFS) in emerging markets. They bring digital tools and methodologies such as lean startup, design thinking, behavioral design, agile, open innovation, and design of experiments, to design, build and launch client solutions. They conduct research based on their client’s requests and build innovative products that increase business ROI.
Amarante Consulting is a digital transformation consulting firm that specializes in financial services. They provide technology implementation assistance, product evolution, service expansion, training services, regulatory advice, digital technology expertise services.
Applexus Technologies offers business consulting in retail, fashion, and consumer products. They provide digital transformational services such as retail planning, POS systems, retail analytics, omnichannel enablement, application development, and maintenance to their customers. Applexus has been in the retail industry for more than 15 years and they offer their expertise to help businesses make data-driven decisions while delivering enhanced customer experience.
M.X. Data provides retail and IT consulting services to help businesses identify the bottlenecks of their processes. They bring retail IT technologies such as point-of-sale systems and retailers together and help them implement solutions with their 20 years of experience in the retail industry.
Marketing transformation consulting
Demand Spring is a marketing consulting company that helps marketing teams optimize their demand generation strategies, processes, and technologies. Their services vary from marketing content audit to creating buyer personas. Demand spring is a partner of Marketo services, a marketing automation software. They help businesses during the process of automation tech implementation.
Alpha Efficiency helps businesses build their digital marketing strategies. They focus on technology, content, and digital transformation roadmap. Their expertise and technology offerings include search engine marketing, email marketing, web development, and social media marketing solutions.
Scyllogis Consulting offers a digital transformation service that specifically focuses on data management and analytics to improve the customer experience insurance companies deliver.
Ninety is an insurance-specialist innovation consultancy firm. They build Minimum Viable Products (MVPs) for insurance companies. Their framework, called 123 Framework, aims to test and learn, iterate MVPs, fail fast on weak ideas, but move to pilot quickly for strong ones. They claim that they can take a new idea to market in 60 days.
Real estate transformation consulting
Wiredhut helps businesses build API-first property technology solutions that aim to improve real estate user experience.
Drees & Sommer is a digital transformation consulting company specialized in the real estate sector. The key services include development and process consulting, infrastructure consulting, project management and engineering as well as real estate consulting.
For more on digital transformation examples and technologies in real estate, you can check our article.
If you still have questions on digital transformation consultants, feel free to contact us:
Cem has been the principal analyst at AIMultiple since 2017. AIMultiple informs hundreds of thousands of businesses (as per similarWeb) including 60% of Fortune 500 every month.
Cem's work has been cited by leading global publications including Business Insider, Forbes, Washington Post, global firms like Deloitte, HPE, NGOs like World Economic Forum and supranational organizations like European Commission. You can see more reputable companies and media that referenced AIMultiple.
Throughout his career, Cem served as a tech consultant, tech buyer and tech entrepreneur. He advised businesses on their enterprise software, automation, cloud, AI / ML and other technology related decisions at McKinsey & Company and Altman Solon for more than a decade. He also published a McKinsey report on digitalization.
He led technology strategy and procurement of a telco while reporting to the CEO. He has also led commercial growth of deep tech company Hypatos that reached a 7 digit annual recurring revenue and a 9 digit valuation from 0 within 2 years. Cem's work in Hypatos was covered by leading technology publications like TechCrunch and Business Insider.
Cem regularly speaks at international technology conferences. He graduated from Bogazici University as a computer engineer and holds an MBA from Columbia Business School.
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