March 2024 | Point of View

Turning tech, data, and digital into EBITDA

Are you maximizing your ROI from tech investments—or just following the hype?

Turning tech, data, and digital into EBITDA

In the constantly changing business world, where volatility and unpredictability have become the norm rather than the exception, achieving tangible financial results has never been more challenging. As a CEO myself, I've seen firsthand the impact of this current confusing environment on companies striving to not only survive but thrive. Our mission has always been clear: to help companies navigate these complexities and emerge stronger, leveraging technology and data to drive real financial gains and ROI. 

At West Monroe, which I co-founded 22 years ago, we've built our reputation on being able to translate technology into EBITDA for business stakeholders. We sit in the boardroom alongside investors, CEOs, CFOs, CIOs, and management teams and can translate between the groups that don’t always—in fact, rarely—speak the same language. This unique “multilingual” ability has made us an invaluable partner to thousands of ambitious enterprises and more than half of the top 100 private equity firms.

Our approach is straightforward and grounded in reality: We focus on financial value creation through technology, whether it's monetizing data or identifying value opportunities that can drive significant improvements on revenue, as well as with CapEx and OpEx, to move the bottom line.

In today's market, the allure of new technologies, especially generative AI, can sometimes distract from the real goal: creating value. A recent piece from The Wall Street Journal highlights how AI is finally having its moment in business technology, transforming operations and opening up new revenue streams. At West Monroe, we maintain a laser focus on what truly matters—the financial impact. Our perspective is that while generative AI will be a solution for a fraction of AI use cases, the broader adoption of technology, when guided by a clear understanding of its financial benefits, is where the real opportunity lies. 

However, as a Bloomberg columnist recently pointed out, the business world is currently facing a “big idea drought.” This observation underscores the importance of not just chasing after the latest technology but focusing on innovation—and investments, whether resources, time, or money—that can truly drive business growth. At West Monroe, we bridge the gap between ambitious concepts and their practical application, ensuring that business and technology leaders can turn innovative ideas into tangible financial results. Otherwise, what’s the point?

Our commitment to delivering results is reflected in every client engagement. We pride ourselves on not just strategizing but also executing, rolling up our sleeves alongside our clients and their employees to turn potential into profit. This ethos is embedded in our culture, a legacy of our technologist founders who understood the importance of marrying technical expertise with commercial acumen. 

Our work across various sectors has consistently delivered substantial financial returns for our clients that have the fortitude to forge ahead versus stay on “pause” due to external factors in the economy: 

  • We unlocked $1.1 billion in cross-selling potential for a software company, driving significant upgrades and preventing revenue loss.
  • Our efforts led to a 2.5x return in just 8 months for MyEyeDr. by overhauling its digital customer experience, demonstrating the power of technology to drive efficiency and new revenue streams.
  • We delivered $100 million in yearly savings for a global PE group by streamlining governance and decision-making in just nine months, through improved contract governance, standard performance KPIs, and value creation playbooks.

In addressing these challenges, West Monroe's approach has always been to partner closely with our clients, understanding their unique needs and co-creating solutions that not only address immediate concerns but also position them for long-term success. Our collaborative innovation projects, such as the one we just recently completed early this year with a Fortune 100 retailer to quickly capture a $2.5 billion market opportunity, exemplify how we combine our deep industry knowledge with technological expertise to deliver results that matter.

A View From the Top with Kevin McCarty

Kevin McCarty chats with Axios publisher Nick Johnson on how West Monroe works with enterprises and private equity firms to turn technology into EDIBTA

A View From the Top with Kevin McCarty

As we reflect on the current business environment—marked by its rapid changes and the emergence of new technologies—it's clear that the need for speed, agility, and a focus on ROI has never been greater.

The "get to work" and "roll up your sleeves" attitude that is in our DNA at West Monroe is more relevant than ever. In a world where change is the only constant, our commitment to turning tech, data, and digital advancements into EBITDA improvements remains paramount.

The challenges and opportunities presented by the current business landscape reinforce the messages we've shared with our clients and prospects. The ability to quickly adapt, leverage technology for strategic advantage, and focus on tangible financial outcomes is what will differentiate the leaders from the laggards. At West Monroe, we're not just consultants; we're partners dedicated to helping our clients navigate this complex landscape and achieve sustainable success. Together, we can turn the challenges of today into the achievements of tomorrow.

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