Tesla topped the ARC Advisory Group’s debut of the Digital Transformation Top 25 as a perfect example of a company that is comfortable with digital transformation and adapts to business challenges quickly, with greater ease.
The ARC Advisory Group has announced the first edition of its special "Digital Transformation Top 25" report. In a report sent to Tesmanian, the group recognized leading companies that have succeeded in integrating digital technologies into all areas of their business, revolutionizing the way they work and delivering value to customers. According to ARC's vision, digital transformation leaders across many different industries share commonalities and perspectives that help them overcome complex challenges, innovate, and stay agile. For those companies that do well, the result is a competitive advantage even in the toughest economic times.
After researching companies from various fields that are present in the market today, the group came to the conclusion that Tesla stands out significantly among all—and as such, the company topped the Digital Transformation Top 25. ARC emphasized that the the company’s growth has been fueled by several bold digital strategies. Tesla’s "message from day one was not that an electric car could be good but that it could be better.”
The group also emphasized that Tesla's fundamental philosophy is to change perceptions, internally and externally. "Prior to Tesla, the market perception of electric vehicles was a slow, ugly juiced up car with little range. Tesla shifted this perception to one of being a sleek high performance and accelerated mode of transformation," says ARC.
The same strategy is used within the organization to build support for digital initiatives and processes. ARC cites Tesla's internal process automation as an example, as the company is trying to make everything better from the beginning, rather than launching a half-finished project that maybe gets better in version 4 or 5. This orientation is fundamental in determining what KPIs the company values, as many of them are far different from metrics managed by manufacturers relying on traditional views of success, says the group.
According to ARC, Tesla is an example of a company "that is comfortable with digital transformation and adapts to business challenges with greater ease quickly." The company's digital connectivity has allowed Tesla to deliver more value to consumers. Their business model is built on the tenet that the vehicles are more like interactive computers with wheels, leading to the creation of an intelligent data platform and connected ecosystem, enabling Tesla to learn from and serve its customers.
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