The consultancy firm Accenture has carried out a study on the digital strategy and technologies used by 1925 CEO of different companies across the globe. One of particular interest is the finding that companies who adopt a comprehensive digital strategy are also those who are most successful in terms of turnover. Here we present a selection of the most noteworthy results.
The three main challenges facing companies
According to those responding to the survey, three main factors are holding back the digital transition within their companies. Security issues were the most cited (51%), closely followed by the ability to keep pace with the new technologies (41%) and the choice of a suitable digital partner (37%). Despite these challenges, companies recognize that they have made much progress towards the adoption of digital technologies.
Data analysis tools versus mobile technology
For the companies surveyed, growth attributed to digitalisation is, in a large part, thanks to the use of tools designed to manage and analyse data. This year, 43% of executives cite implementation of digital data analysis tools as their priority. This replaces mobile technologies, which were the most cited last year.
New technologies as sources of income
48% of business leaders responding to the survey claim that digitalisation is expected to help increase their revenue, notably due to a greater ability to attract customers. They expect that the combination of several digital technologies will enable them to accelerate the development of products and services, increase customer loyalty, to respond more quickly to customer feedback and also help to open up new markets. Seven out of ten think that the potential of digital technologies is greatest if they are used together.
Is there a link between digitalisation and profit?
Taking a closer look at the expected outcomes of digitalisation, we see that the more optimistic leaders are also those with the most profitable companies. On the other side of the fence, those who consider digitalisation to be a threat and who resist its implementation are generally the least successful companies. These results suggest that an optimistic approach towards digital technology combined with a focused approach on their implementation could have a positive effect on a company’s overall profitability. By recognizing the improvement opportunities presented by digitalisation of its business, a company can outperform its competitors. The gap between pro and anti digital businesses is growing. The longer that companies wait before adopting digital technology the more difficult it will become for them to catch up with their rivals.