5 Quebec-born companies that have reached a successful digital transformation
Companies are allocating big budgets towards digital transformation to stay competitive. According to Forrester, 59% of companies spend at least $10M, and 29% allocate a budget of more than $50M. This is not surprising when you consider that these investments can improve the customer experience as well as products and revenue. It must be said, however, that certain companies are more successful at reaching their goals than others. Let us do a test. Think of companies that have brilliantly succeeded in their digital strategy. Amazon, Uber, Air BnB and Netflix are most likely some of the first names that come to mind. Their innovative business models have allowed these giants to revolutionize international trade and become icons of digital transformations. The operations of these companies no longer hold any secrets since they are now integrated into our daily lives. Then again … did you know that Netflix started out using a snail mail DVD rental system? The examples of success, however, seem obvious when we speak about digital strategy on a local scale. If, Quebec consumers are increasingly digitized (showing 34% more online buyers than 2014!), then what about our businesses? Are there also leaders of innovation in Quebec who have used technology to provide an optimal customer experience and who are ready to embrace the future? Here are 5 examples of Quebec-based digital transformations that you most likely had no knowledge of:
1- Aldo: Pioneer of online selling and data collection
Founded in Quebec in 1972, this shoe retailer now has a dedicated spot on streets of a hundred countries holding sales of $1.5 billion. While it is true that Aldo designs, builds and sells his own shoes, his success is partly due to his early and ongoing efforts in optimizing his customer service: Early as 2005 ➤ Aldo is one of the first Canadian retailers to launch a website, enabling electronic transactions. Starting in 2010 ➤ Aldo launches an all-channel marketing strategy providing him a 350-degree view of customer interactions (email, phone, stores, websites, etc.).Outcome?
- Decision-making improved due to the centralization of client information such as: client traffic in various points of contact from the web to the stores
- 10% increase in the annual growth of e-commerce over one decade
- 10% increase in the conversion rate since the revamping of the website in 2017
- 30% of company sales in the North American territory are made using digital technologies
2- OPERIŌ: Integrated accounting and consulting services for SME
OPERIŌ is an intelligent operational solution, which was launched in May of last year by Raymond Chabot Grant Thornton. This solution facilitates the administrative management of SMEs through a range of accounting services such as automated payroll management, annual tax reports, monthly financial statements, etc. OPERIŌ has implemented a CRM at the heart of its business project, enabling them to reach their goals and to manage relations with the clients of the company.(XRM Vision is extremely proud to have been a part of this digital transformation!) Outcome? Considering that OPERIŌ did not have any clients, centralizing its activities using a CRM, has brought several advantages:
- Accelerating its exponential growth while retaining the flexibility required when in a start-up position.
- Multiple lead sources are documented
- Event management and following up with interested customers until the closing of the sale and an electronic signature of the contract is obtained
- Measure the evolution of its sales cycle and efficiently adjust the business model and internal organization
3- The Concordia University Webster Library
Is the next generation adequately prepared for the digital future that awaits them? Concordia University advocates that universities need to examine ways of modernizing themselves if they want to remain places of research and innovation. Concordia University has undertaken a major digital transformation of the Webster Library which they have recently inaugurated after three years of renovation work. With a completely redesigned operating model, this library uses cutting-edge technologies to create different spaces designed for thinking, learning, exchanging of ideas and creativity. Outcome?
- Installation of a technological sandbox allowing the research and generating of ideas via digital technology
- Removal of seats
- Designing 22 types of study and team work spaces
4- L’Itinéraire: Currently established everywhere in Quebec through its digital strategy
You have probably already read one of the monthly editions of this magazine called L’Itinéraire or have had a conversation with one of their pitchmen standing at a Montreal street corner. For 30 years now, this NPO has been working with marginalized people who have experienced periods of homelessness. This famous magazine is no longer limited to the metropolitan region; an improved version is now available online. In 2016, L’Itinéraire completely revamped its website and redesigned its business model to offer a digital version of the magazine. Outcome?
- Increase in geographical availability of the magazine, from Montreal to the rest of Quebec as a whole.
- Acquisition of new competences in the digital communication for the team
- Reduction in production costs
- Better response to the needs of the readers by offering a digital version of the magazine
- Increase in donations due to the revamping of the website
5-BonLook: A new vision for the eye wear trade
BonLook is a different case: they have not really undergone a digital transformation. Rather, BonLook that has transformed the prescription lens market in Quebec. If Taxi Coop has its Uber and the Gouverneur Hotel has its AirBnB, optometrists and opticians in Quebec now have their BonLook. The profit margin in the prescription lens market is a huge one. However, BonLook has made it possible to get nice glasses for a few hundred dollars. Founded in Quebec, a few years ago, this retailer has revolutionized the eye wear market. Following a business model similar to Aldo, BonLook handles the entire process from eyeglasses design to sales. Furthermore, direct access to customers (without using middlemen such as optometrists), and online sales allow BonLook to offer corrective lenses at a fraction of the price charged by an optometrist. These 5 companies are just a few examples of Quebec grown digital transformations that have fructified. We could have mentioned the digital innovations of the mining industry, more specifically Mount-Wright. We could have mentioned the health sector and the centralization of information at the CHUM or Neuvoo which had a great impact in the human resources industry. Are you ready to undergo your own digital transformation? If you have any questions on how to implement an efficient digital strategy for your company, do not hesitate to contact one of our experts, who will provide you with personalized advice.