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McKinsey Insight, Government Digitization Could Generate up to $1 Trillion in Economic Value Globally.

by Chukwuemeka Fred Agbata Jnr
11 years ago
in News
Reading Time: 2 mins read
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McKinsey Insight’s report indicates that an annual substantial benefit of about $1 trillion from public-sector digitization can only be obtained if governments implement tactics that embrace e-government objectives.

McKinsey is a global management consulting firm, which aids governments, NGOs, and businesses in improving performance and achieving goals. It comprises of about 2,000 research and information professionals, and more than 9,000 consultants with links and offices in several countries across the globe, including Nigeria.

According to McKinsey’s report, governments have a must-do duty to invest in public-sector digital transformation, banked on the fact that both the citizens and industries expect government information to be free or affordable, easy to comprehend and readily available online.

The report further indicates that more than 130 nations have online services, which provide alternatives for those whose jobs and basic needs do not adjust to regular daytime available hours, improves lives of the physically challenged individuals and offers greater access for rural residents. Even though several governments across the globe are doing the best to meeting e-government objectives, a good number of governments are far from attaining the comprehensive benefits of public-sector digitization.

Similarly, in a joint research conducted by McKinsey and Oxford University, it is evident that public-sector IT projects in need of business transformations were six times privileged to experience cost overruns and 20 percent more likely to run over schedule than such projects in the private sector. As a result, it is essential that private-sector businesses supporting civic IT changes appreciate that public sector works in a different framework.

The joint study found that when frameworks and information are claimed by different offices and functions, on a variety of platforms and with contrasting categorizations and access, it can be difficult to invest at stability and produce adequate economies.

Additionally, the joint study revealed that several e-government efforts are operated in vain, when complexity of massive digital projects involves detailed expertise. Indeed, this makes the projects more difficult to accomplish.
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