BOSTON, Nov. 11, 2024 /PRNewswire/ — Bain & Company, the global business consulting firm, has been recognized as a Leader in The Gartner® Magic Quadrant™ for the Finance Transformation Strategy Consulting (FTSC) market.

Gartner defines the finance transformation strategy consulting market as engagement services that enable CFOs and their finance organizations to define strategies and execution roadmaps across multiple business-aligned, forward-looking initiatives.

Gartner identifies a Leader as having the ability to “demonstrate a market-defining vision for transforming the finance function,” and “they deploy innovative technologies — such as AI and GenAI — with increased frequency during their consulting engagement to accelerate engagement delivery while enhancing the quality of finance transformation strategies.” According to Gartner, “Leaders provide access to a range of self-service tools and resources, enabling clients to develop and refine their finance transformation strategies.”

“We’re honored to be recognized by Gartner as a Leader in the Finance Transformation Strategy Consulting market Magic Quadrant,” said Michael Heric, a New York-based Bain Partner and global leader of the firm’s global Finance solution in its Performance Improvement practice. “We have a proven track record of advising CFOs on navigating the increasing complexity in finance transformation, from data and technology to process improvements and people strategies,” he said.

Bain & Company has worked across more than 3,100 support function projects, where its clients experienced strong financial results, with Bain-delivered programs yielding a 25-times return on the investment made, and a typical savings of 20 to 30 percent achieved. The firm brings a full range of capabilities, including process redesign, shared services, capability sourcing, and change management to achieve goals.

Additionally, Bain brings its integrated digital solutions platform, Vector℠, which provides the advanced analytics, AI and automation expertise to help Finance teams get more value from technology. The firm uses proprietary tools, such as Aura, an independent SaaS workforce analytics platform, that provides key workforce insights, including metrics like headcount growth and attrition rates, organizational capability assessments, talent sourcing, and competitive benchmarking.

According to Gartner, “In this Magic Quadrant, the service, market responsiveness/record and operations criteria are particularly important,” as they “speak to the service provider’s ability to provide a high-quality product in the form of a finalized finance transformation strategy and roadmap that outlines clients’ most critical improvement opportunities — and associated action plans.”

Further information on Bain’s approach to Corporate Support can be found here.

A complimentary copy of The Gartner® Magic Quadrant™ for the Finance Transformation Strategy Consulting (FTSC) market can be accessed here.

Editor’s Note: To arrange an interview, contact Dan Pinkney at dan.pinkney@bain.com or +1 646 562 8102.

Gartner, Magic Quadrant for Finance Transformation Strategy Consulting, Geraldine Garaud, Peter Brannigan, Marco D’Ascoli, 5 November 2024

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Bain & Company

Bain & Company is a global consultancy that helps the world’s most ambitious change makers define the future.

Across 65 cities in 40 countries, we work alongside our clients as one team with a shared ambition to achieve extraordinary results, outperform the competition, and redefine industries. We complement our tailored, integrated expertise with a vibrant ecosystem of digital innovators to deliver better, faster, and more enduring outcomes. Our 10-year commitment to invest more than $1 billion in pro bono services brings our talent, expertise, and insight to organizations tackling today’s urgent challenges in education, racial equity, social justice, economic development, and the environment. We earned a platinum rating from EcoVadis, the leading platform for environmental, social, and ethical performance ratings for global supply chains, putting us in the top 1% of all companies. Since our founding in 1973, we have measured our success by the success of our clients, and we proudly maintain the highest level of client advocacy in the industry. 

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SOURCE Bain & Company

KNOXVILLE, Tenn., Nov. 11, 2024 /PRNewswire/ — Return-to-office (RTOs) mandates have become a hot topic, with major corporations like Amazon Web Services (AWS) and Dell insisting employees work onsite. However, Amazon’s hardline policy on returning to the office or else is being met with resistance, and other companies are considering their options. In a recent Q&A, Tim Munyon, Ergen Professor in Business and Janet and Jeff Davis Faculty Fellow at the University of Tennessee, Knoxville, Haslam College of Business, discussed the ramifications of RTOs for businesses and employees.

What are the main factors driving executives to mandate a return to the office?

There is a tension between productivity and positive culture that occurs with remote work. Emerging data suggests that remote workers are more productive than their in-office counterparts, but it’s difficult to maintain a positive workplace culture with a virtual workforce. Data-breach concerns also manifest for certain virtual roles, and in-person work can often lessen these problems. Finally, there is some evidence that accountability is more difficult with virtual employees, even with tracking software.

Do you anticipate other companies will follow in the footsteps of Dell and AWS regarding RTO policies?

These workplace policies are often cyclical, so I expect other companies will follow suit. In-office modalities are useful for interdependent and creative work, but these can also be accomplished simply by asking employees to be in the office a certain number of days each month with others on their team. Finding the “happy middle ground” may be the solution here.

Do you think the push for a return to office will lead some employees to seek opportunities at other companies?

Roughly one-third of voluntary turnover is caused by some work- or non-work-related shock or change. Depending on how they are implemented, RTO policies have the potential to catalyze additional turnover in the workforce, beginning with the high performers who are most mobile. These individuals are also disproportionately important to the firm and difficult to replace, an important caveat on RTO’s value. Astute companies will resist the urge to do “all-or-nothing” RTO policies and work with their employees to find creative and actionable solutions.

During the pandemic, many employees relocated for remote work. Do you foresee a significant number of them relocating for in-office work?

Interest rates and slowing home sales are going to keep many of these remote workers from moving closer to the office. The allure of freedom is strong, and I suspect many will be reluctant to give it up. Some employers also downsized their physical office footprints during and after COVID, which negatively impacts space allocation once employees are asked back.

How might RTO policies impact different demographics within the workforce?

Those with children and other dependents are going to be most negatively impacted by these policies. Those who can afford childcare will do so, but at great expense. We also know from the literature that women often bear a disproportionate burden in terms of non-work-related responsibilities, so I think this will exacerbate these inequity issues. RTO is also difficult for some workers with disabilities who cannot readily get into the office without significant effort.

We don’t think of them nearly enough, but many in rural communities have a real opportunity to participate in enterprise organizations because of virtual work. RTO policies literally cut these people out of the equation, meaning organizations artificially limit their labor pool by restricting work modalities, and remove economic opportunities from communities who desperately need high-quality jobs.

In your view, what does the future hold for remote and hybrid work models in the evolving workplace landscape?

Remote and hybrid work models are the future. Synchronous communication technologies enable us to work in real time with colleagues anywhere in the connected world. Ultimately, companies will need to offer flexible virtual work options — potentially including dedicated in-office time — to attract and retain top talent and enable them to produce at a high level. The companies that figure this out will effectively differentiate themselves on the labor market.

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SOURCE University of Tennessee, Knoxville’s Haslam College of Business

NEW YORK, Nov. 11, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global online grocery market size is estimated to grow by USD 1.65 trillion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  21.48%  during the forecast period. Increased popularity and adoption of e-commerce platform is driving market growth, with a trend towards growth in demand for functional food and beverages. However, end-user perception of online grocery shopping  poses a challenge.Key market players include Albertsons Companies Inc., Amazon.com Inc., Blink Commerce Pvt. Ltd., Bundl Technologies Pvt. Ltd., Coles Group Ltd., Costco Wholesale Corp., Flipkart Internet Pvt. Ltd., HOFER KG, Innovative Retail Concepts Pvt. Ltd., Koninklijke Ahold Delhaize NV, Ocado Group Plc, Rakuten Group Inc., Reliance Industries Ltd., Seven and i Holdings Co., Ltd., SPAR International, Target Corp., Tesco Plc, Transform Holdco LLC, Walmart Inc., and Woolworths Group Ltd..

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Market Driver

Online grocery market is witnessing significant trends as urbanization increases and consumers seek convenience and time-saving benefits. Grocers are adapting to this shift by offering online payments and contactless delivery. Small-scale grocers and food-delivery platforms are entering the scene, bringing competition and variety. Service fees, discounts, and delivery options are key factors influencing customer loyalty. Brands are focusing on quality milk products, doorstep delivery, and easy, hassle-free experiences. E-commerce technology, including mobile applications, logistics, and secure payment gateways, is driving growth. Internet penetration and accessibility are essential for online shopping, with specialty products, international goods, and dietary options appealing to unique preferences. Faster deliveries, reliable deliveries, and cashback offers are essential for customer satisfaction and repeat purchases. Tech-savvy consumers demand efficient delivery logistics and user-friendly interfaces. Fresh produce, RTE food, snacks, and beverages are popular categories, with organic and locally sourced options gaining popularity. E-commerce platforms are enhancing the shopping experience with predictive analytics, demand forecasting, and route optimization. Busy lifestyles and health-conscious choices are driving the market for instant delivery, scheduled deliveries, and subscription services. 

Functional food and beverages, recognized for their health advantages, are increasingly popular among consumers globally. These products offer benefits such as enhanced immunity, improved mental strength, heart rate regulation, digestive health, hydration, and electrolyte replenishment. Consumers are prioritizing their health and investing in non-traditional fitness activities, leading in demand for functional food and beverages as a healthy nutrition source. However, not all of these products are readily available at traditional retail stores. As a result, online grocery markets have become a go-to destination for consumers seeking convenient access to a wide range of functional food and beverage options. 

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Market Challenges

Online grocery market is witnessing significant growth due to urbanization and the convenience of doorstep delivery. However, challenges persist in areas like online payments, contactless delivery, and brand awareness for small-scale grocers. Grocers and food-delivery platforms face hurdles in implementing secure payment gateways and ensuring quality of milk products and fresh produce. Discounts, delivery options, and service fees are crucial factors influencing customer choice. Digital platforms offer time-saving benefits, but challenges in logistics, user-friendly shopping experience, and reliable deliveries remain. E-commerce technology, including mobile applications and AI, is transforming the industry, with faster deliveries, cashback offers, and loyalty programs enhancing customer satisfaction. High-speed internet and last-mile delivery solutions are essential for efficient supply chain management. Traditional retailers must adapt to tech-savvy consumers’ preferences for convenience, freshness, and variety.The global online grocery market is experiencing steady expansion, yet challenges persist in altering the mindset of a significant consumer base. With food items being a major concern, end-users seek flawless and satisfying purchases. The preference for traditional grocery shopping remains strong due to the tangible experience it offers. Consumers express concerns over product quality, particularly freshness, which is crucial for perishable goods. Vendors face hurdles in creating a positive impact on consumers’ perceptions and establishing trust in the online grocery space.

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Segment Overview 

This online grocery market report extensively covers market segmentation by  

Product 1.1 Food products1.2 Non-food productsType 2.1 One time customers2.2 SubscribersGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Food products-  The food product segment significantly contributes to the revenue generated from online grocery sales. Consumers prefer buying food products online due to several reasons. These include the option for customization and personalization, convenience, swift delivery, and return policies. Online retail channels offer quality and originality checks, making it easier for consumers to ensure they are getting authentic products. Leading packaged food producers, such as Nestle, Danone, PepsiCo, Mars, Coca-Cola, Kraft-Heinz, Abbott, and Mondelez, have a strong online presence, providing consumers with a wide range of brand options. The availability of smartphone apps from these manufacturers and retailers further enhances the shopping experience. The pandemic has accelerated the shift towards online grocery shopping, with retailers like Costco reporting over 440% increase in same-day delivery sales in Q2 2020. These factors are expected to drive growth in the online grocery food product segment.

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Research Analysis

Online grocery delivery has revolutionized the way we shop for household essentials and household products. With the widespread use of the internet and digital platforms, grocers now offer convenient time-saving benefits for urban consumers. Ordering items online allows for contactless payment options, ensuring a safe and hygienic shopping experience. The use of artificial intelligence (AI) and machine learning (ML) in supply chain management ensures a wide product selection and the freshness of items. Small-scale grocers have also joined the digital revolution, offering organic and locally sourced groceries for tech-savvy consumers. Delivery options range from contactless curbside pick-up to drone deliveries, making grocery shopping more accessible than ever before. Discounts and deals add to the appeal, making online grocery delivery a popular choice for busy individuals.

Market Research Overview

Online grocery shopping is a convenient and time-saving solution for urban consumers, allowing them to order essential items online and receive doorstep delivery. Grocers have embraced e-commerce technology, offering user-friendly digital platforms for ordering milk products, fresh produce, RTE food, snacks and beverages, and even international goods and dietary options. Contactless delivery ensures a hassle-free experience, with secure payment gateways and cashback offers, loyalty programs, and subscription models enhancing customer satisfaction and repeat purchases. Logistics and last-mile delivery solutions, such as delivery drones and automated vehicles, ensure faster and reliable deliveries. Small-scale grocers and food-delivery platforms have joined the fray, offering a wide range of specialty products and unique preferences. E-commerce platforms provide easy access to a variety of products, enabling price comparison, product reviews, and smartphone usage for on-the-go shopping. Efficient supply chain management, predictive analytics, and demand forecasting have become essential for grocers to meet the needs of tech-savvy consumers. Freshness and quality are maintained through local fulfillment centers and inventory management. The scheduled deliveries segment, subscription services, and hybrid marketplaces cater to busy lifestyles and health-conscious consumers seeking RTE choices, organic options, and plant-based alternatives. Artificial intelligence (AI) and machine learning (ML) are transforming the online grocery market, providing personalized recommendations and enhancing the overall shopping experience. Traditional retailers are adapting to the digital age, offering online transactions, instant delivery, and varied delivery options to remain competitive. The future of grocery retail lies in the seamless integration of e-commerce technology, user-friendly interfaces, and efficient delivery logistics.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductFood ProductsNon-food ProductsTypeOne Time CustomersSubscribersGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio