The myriad challenges of the last year has only exacerbated the divide between companies that have advanced their digital transformation and their non-digital peers.
As the chasm widens, the pressure mounts on technology leaders to sustain results while keeping pace with customers. Meanwhile, those yet to make progress on their digital transformation are rethinking priorities to make sure they are not left on the wrong side of the digital divide.
But what does this mean for these two camps, as we progress into 2021 – and beyond?
Business challenges can no longer be an excuse for delaying technology investments. Consider this:
- In 2021, at least 30% of organisations will accelerate innovation to support business and operating model reinvention, fast-tracking transformation programmes to future-proof their businesses.
- By 2022, 70% of all organisations will have accelerated the use of digital technologies, transforming existing business processes to drive customer engagement, employee productivity, and business resilience.
- By 2023, 75% of organisations will have comprehensive digital transformation implementation road maps. That’s up from 27% today, resulting in true transformation across all facets of business and society.
Digital Transformation: A Strategic Approach
What we’ve learned is that industrial organisations must be fully focused when it comes to digital technologies, prioritising customer engagement, employee productivity, and business resilience with business model reinvention.
This context, from the same IDC report, reinforces three key points for businesses to consider:
- Implementing a holistic digital transformation strategy is a cornerstone for overall performance improvement.
- To deliver real business results, technology and process convergence need to be put at the centre of digital transformation.
- Business decisions must be made in near‐real time to drive efficiency, so having a connected technology stack and high quality of data is essential.