For Immediate Release
Point B Inc., an integrated management consulting, venture investment, and property development firm, offers an inside look into high-priority industry and service sector drivers for 2017. With more than 600 associates serving clients in a diverse set of industry and functional areas across the U.S., Point B has helped organizations recognize and interpret what will drive future business success for the past 22 years.
The firm’s Chief Executive Officer, Mike Pongon, advises leaders to think boldly about growth in 2017. “While there is a certain degree of economic uncertainty, overall conditions are steady, and the opportunity for meaningful, dynamic growth in 2017 is very real. It’s time to step on the gas as you examine your industry and market conditions, hire new people and plan for new products and service lines. Point B is in a unique position to share learnings in these areas, as our people see and understand business drivers from the extensive set of organizations we work with across the nation. As always, our goal in thoughtfully looking forward is to help organizations prepare and plan for the New Year and beyond.”
2017 Business Drivers:
- Mergers become streamlined. Expect to see additional mergers to gain efficiencies and reduce competition among not only providers and health plans, but between groups joining/aligning to form a combined health plan and delivery system.
- Health promotion initiatives see an increase. In an effort to keep healthcare costs at bay and address the high cost of caring for chronic conditions, there will be a growing focus on health promotion initiatives and patient adherence programs, affecting both payors and providers of healthcare services.
- An overhaul of the ACA takes center stage. While there are many unknowns, the new administration is indicating a “repeal and replace” of the ACA, with major policy changes expected to occur. Healthcare organizations can be proactive by enhancing strengths and identifying the gaps that require attention throughout the organization to help lay the groundwork for the next set of challenges facing this constantly evolving healthcare industry.
- Customers want things (even) faster. Consumers’ demands for immediacy, particularly millennials, coupled with shifts to instant delivery and same-day service will drive an even greater number of retailers to offer more order online and pick up in store, curbside, and drive thru options…(would you like fries with that blouse?)
- Loyalty is still king. Omnichannel retailers will strive to engage consumers with loyalty programs to better measure cross-channel behavior and harness the same power of analytics in brick and mortar environments as they have for online customers.
- Employee satisfaction is even more critical in the fast-paced retail world. With workers asking for more predictable schedules, and some cities looking to mandate predictability, retailers will revisit labor optimization models to ensure they work not just for the customer and the bottom line, but that they also drive employee satisfaction. Organizations will also need to develop strategies for implementing new compensation structures as they begin to become more relevant and even mandated.
- Technology investment is strong. There will be more focused investments in Fintech (Financial Technology) and the use of technological innovation (e.g. artificial intelligence, blockchain, mobile payments, etc.) for financial services organizations in the New Year, making technical due diligence and system testing more important than ever before.
- Cybersecurity threats become omnipresent. As financial institutions continue to migrate to an “all-digital” environment, the risk factor for cybersecurity breeches will increase exponentially. The likelihood of a potential breech and its negative impact on financial institutions will move cybersecurity to the top of the list on executive agendas.
- We’ll see a renewed focus on growth. In a post-election world, the ease of regulatory costs will mean more capital to spend on strategic initiatives that focus on long-term growth and success. This will lead to renewed innovation efforts and the exploration of multi-dimensional business models to drive new revenue streams.
- Best practices will need to be shared across industries. The trend of applying best practices across industries such as the development of “urban resorts” will continue. Great projects will deliver innovative places that meet the evolving needs and expectations of consumers by blending the best across industry business models and development practices.
- Technology plays a bigger role. Developers will need to take advantage of advancements in construction methods and technology to develop more efficient, flexible projects. For example, using cross laminated timber (CLT) construction is cost effective, can speed up construction, and provides desirable design aesthetic attributes.
- Multiple use is the new black. Never before has it been more important to create spaces with flexible design and adaptability for multiple uses and product types. Consumers are becoming used to traveling to fewer places offering more experiences, and developers will need to plan and execute based on this focus in 2017.
- Innovation in the enterprise takes a step forward. More companies will continue to add corporate venture capital, intrapreneurial and incubatory capabilities as they push for new and more provocative ways to innovate. However, those who try without leveraging VC experience will be susceptible to early costly mistakes that become realized in future years.
- Mergers and acquisitions come home to roost. Companies have been stockpiling cash, and this surplus will manifest itself in significant M&A activities in 2017. Organizations will need a defined strategy, strong discovery and assessment processes, cultural integration methodologies and a robust transition playbook for optimum success.
- Series A funding becomes a challenge. Large VC funds will continue to raise a larger portion of available VC dollars. This will make it more challenging for start-ups to find Series A funding unless they have clear IPO paths, or can tap into other financing sources, such as direct corporate and family office capital.
For more information on 2017 trends, or to speak to a Point B industry or service expert, please contact email@example.com.