Treasury Wine Estates Launches Digital Transformation Initiative 'Ascent'
Treasury Wine Estates is initiating a major digital transformation, aiming for $100 million in annual cost reductions by FY29. The project, known as 'Ascent', emphasizes digital, data, and AI integration to streamline operations and enhance decision-making.
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Treasury Wine Estates is set to implement a digital transformation initiative called 'Ascent', focusing on technology, data, and AI as critical components. The company aims to achieve $100 million in annual cost savings by FY29, with benefits beginning in FY27.
Key pillars of this transformation include a shift to a regionally-focused operational model and standardization in brand-building strategies. Investments will target data systems, sales automation, and enhanced marketing tracking. The expected outcomes include improved forecasting, reduced administrative burdens, and better consumer insights, ultimately enhancing the company's digital and e-commerce capabilities.
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