West Monroe Releases 2024 Industry Outlooks on Navigating the Business and Digital Landscape

The firm's industry experts share predictions and insights into the trends shaping banking, manufacturing, private equity, energy & utilities, and healthcare & life sciences

CHICAGO, Dec. 18, 2023 /PRNewswire/ -- West Monroe, a leading digital services firm, published its 2024 Industry Outlooks, an annual series providing a forward-looking guide to the trends, challenges and action items that will shape the business and digital landscape in the year ahead. The outlooks offer invaluable insights for leaders guiding their businesses in a challenging economic environment. The 2024 Industry Outlooks are available here.

Organizations that will thrive in 2024 will seamlessly integrate data-driven technologies, navigate market dynamics with adaptability, and prioritize sustainability for long-term success. Across all industries, the following themes are top of mind: adapting to evolving regulations and security landscapes, recentering business around the customer, harnessing the power of data and AI for smarter decision-making, navigating the fluidity of market conditions, and closing the skills gap to propel workforce productivity. Above all, a collective dedication to digital innovation will steer the course to success in the coming year. 

Key 2024 trends shaping each industry include:

• Private Equity: spearheading sustainable value creation and harnessing the power of AI for strategic portfolio advancements.
   
• Manufacturing: revolutionizing the sector with digital innovation by building robust, resilient supply chains.
   
• Healthcare & Life Sciences: poised for transformation driven by the widespread adoption of advanced analytics and AI, necessitating strategic investments in data while navigating a challenging cost landscape.
   
• Energy & Utilities: leading the charge in eco-friendly energy solutions and decentralizing power to innovate and adapt for a sustainable future.
   
• Banking: redefining banking with digital-first approaches to navigate increased financial risk.

"Our deep industry expertise remains a key differentiator. Without it, essential context gets missed and client results fall flat," said Will Hinde, industry practices leader at West Monroe. "These insights will enable us to anticipate, advise, and guide clients through what's to come in 2024 as increased regulations, data and AI, workforce productivity, and other trends impact their paths to success in a challenging market."

West Monroe differentiates itself among other digital services firms by emphasizing multidisciplinary teams and placing an emphasis on strong industry expertise in a core set of industries. 

The full 2024 Industry Outlooks are available for download here.

About West Monroe

West Monroe is a digital services firm that was born in technology but built for business—partnering with companies in transformative industries to deliver quantifiable financial value. We believe that digital is a mindset—not a project, a team, or a destination—and it's something companies become, not something they do. That's why we work in diverse, multidisciplinary teams that blend management consulting, digital design, and product engineering to move companies from traditional ways of working to digital operating models—and create experiences that transcend the digital and physical worlds. Connected by the five values that drive our culture, our 2,000 employees work collaboratively across the firm with the belief that our clients' success is our success. Visit WestMonroe.com to learn more.

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SOURCE West Monroe Partners