The 2021 annual guide to enterprise digitization is the first panoramic digital report for CIO groups in the venture capital circle From Sequoia China

The following is the The 2021 annual guide to enterprise digitization is the first panoramic digital report for CIO groups in the venture capital circle From Sequoia China recommended by recordtrend.com. And this article belongs to the classification: big data, Industry information.

Recently, Sequoia China released a 2021 annual guide to enterprise digitization, which attracted extensive attention from practitioners in the field of enterprise services. According to Sequoia China, the guide conducted in-depth research on the CIO (Chief Information Officer) and other enterprise digital managers of 222 interviewed enterprises in 16 sub industries. The whole process lasted for 9 months, and the interviewed enterprises were all over 37 cities in China.

It is an irreversible trend for enterprises to move towards digitization. Digital tools and systems can not only help enterprises realize efficient connection among consumers, customers and enterprises and interconnection between equipment, but also break the information gap between traditional departments and connect the data islands of upstream and downstream industrial chains. The accumulated massive data also provides decision-making basis for managers to sensitively perceive internal and external changes, It has brought tangible benefit improvement to the enterprise.

Therefore, embracing digitization has increasingly become the only way for enterprise strategic transformation. As the “helmsman” of enterprise digitization, CIO groups have encountered a series of new challenges in this major transformation, leaving a large number of topics worthy of thinking and research. Based on the concept of “from CIO, to CIO and for CIO”, Sequoia’s enterprise digitization guide comprehensively combs enterprise digitization from macro strategy formulation to data governance, technical realization and organizational collaboration in practice, and provides a systematic operation guide for CEO, CIO and other enterprise digital managers.

This guide is the first panoramic digital report for CIO groups launched by the venture capital circle, integrating the summary of Sequoia’s years of experience in scientific and technological services and industrial empowerment. Sequoia China said that this will be a new starting point for Sequoia to help promote national digital development, and “we hope to make this report for at least 20 years to record the digital growth of Chinese enterprises.”

The following are the core insights in this guide.

Strategy

Core insight 1:

The report shows that digitization has become a “compulsory course” for enterprises, 96% of the surveyed enterprises said they have carried out digital practice, and more than 60% of the respondents hope to increase digital investment. From the perspective of the motivation of digitization, the change of customer consumption habits and demand has become the direct external cause of digitization, and improving their core competitive advantage has become the core driving force of digitization.

Core insight 2:

The core of digital native enterprises lies in mastering the core technology of mining digital assets and building a digital ecology; The first step of digitization of non digital original enterprises is to form digital thinking, examine and reconstruct all processes of the enterprise from the perspective of digital characteristics. No matter what kind of enterprise, the principle of digitization is to take data as the core to build or reconstruct the organizational structure and business process of the enterprise. As the core digital managers of the enterprise, CEO and CIO need to stand in the perspective of enterprise strategy and professional field respectively, and jointly promote the enterprise digital practice to be highly consistent with the enterprise development goal.

Core insight 3:

In the early stage of digital development, large enterprises are the main participants. They prefer top-down system reform and comprehensive digital deployment based on business process combing. Therefore, it is more urgent to formulate enterprise digital strategy. With the further development of digitization, small and medium-sized enterprises gradually change from spectators to participants, but they often do not have enough resources and technology for comprehensive improvement. Therefore, they choose to start from the business department and use digital technology to solve problems according to clear needs and pain points.

Among the surveyed enterprises, business coordination and technology coordination are widely used models, accounting for 31% and 57% respectively. Business coordination is mainly carried out by the business department, and the starting point of its digital practice is more business oriented; Science and technology coordination is mainly led by the technology or data Department of the enterprise to carry out digital practice, and its digital practice focus will be more technical and professional. The convenience of these two models is that there are relatively few changes to the existing organizational structure. The centralized promotion mode has relatively high requirements for enterprise organizational structure adjustment and talent ability. Enterprises need to “tailor” according to their actual development and choose the digital promotion mode suitable for different development stages and business modes.

Practice chapter

From strategy to actual combat, enterprises also need to solve a series of practical problems. In practice, different digital capabilities have different business value and importance to enterprises, so enterprises will choose different priorities to build digital capabilities. Digital capabilities need to be deployed as a whole in order to provide enterprises with greater return on investment and maximize their value.

Core insight 4:

In the early stage of digital practice, enterprises should not blindly and comprehensively promote digital practice, but should first identify digital opportunities and scenes, find the digital entry point, point and area, so as to prevent resource waste and attack internal digital confidence. The choice of entry point can be the development pain point, business potential value point, or the advantage point of the enterprise. In this survey, the four areas in which the interviewed enterprises hope to give priority to digital practice are data-driven insight and decision-making, digital operation and supply chain, customer experience centered, and product and service innovation. What are the key factors for the success of enterprise digitization?

1., the simultaneous interpreting of supply chain integration, operation process reengineering, digital operation and supply chain has a great difference from traditional one, and its structure is more flexible and flat, and its efficiency is higher. Secondly, by using the massive data generated in each link, it can help enterprises predict consumer demand, open up the data between cross enterprise entities, form a sharing and trading mechanism, and improve the efficiency of communication. Undoubtedly, enterprise digital managers should pay great attention to how to carry out online and offline integration.

2. In the digital era of brand and experience strategy and customer journey design, business activities put more emphasis on “customer-centered”. When everything becomes more and more difficult to determine, customer demand is relatively something that enterprises can grasp more, and digitization provides enterprises with an effective means to understand and serve customers faster and better. Therefore, enterprises rely on digital insight into the overall needs of customers, achieve accurate customer touch, improve customer experience, and finally realize the transformation of omni-channel, seamless and customized services centered on customers.

3. The integration of business and technology and the digitization of agile delivery mode not only enhance the linkage of internal R & D, production, supply chain and marketing, but also strengthen the interconnection between different enterprises and between enterprises and the market, so as to improve the innovation efficiency of enterprises and expand their innovation space. Using digital technology, enterprises can more accurately grasp the changes of market demand, gain insight into the potential needs of customers, promote the emergence of more innovation and creativity, and even let customers participate in the innovation process of products and services, so as to realize the deep integration of enterprise products and services and customer needs. Therefore, enterprises can quickly form new product and service models by innovating innovation processes, innovation tools and organizational structure.

Data article

With the advent of the digital economy era, taking data technology as the “core asset” is becoming the core driving force of the overall economic development. However, the problems caused by insufficient data governance capacity have become the main problems faced by the surveyed enterprises. How can enterprises form effective governance over data? How to ensure data security in practice?

Core insight 5:

There is no doubt about the importance of data. Nearly 70% of respondents said that how to drive business insight and decision-making through data is their digital focus in the future. However, the lack of data governance capability has become the main factor hindering enterprise data application. Therefore, how to establish a scientific and open data asset management and operation system is an issue that all enterprises need to consider. In addition, data security is the basis for building customer trust, and the corresponding security work also needs to be carried out simultaneously.

Technical section

The emergence and popularization of emerging technologies represented by artificial intelligence, blockchain, Internet of things, cloud computing and big data have further accelerated the formation of a super large-scale industrial Internet with interconnected everything. However, in the final analysis, technology still serves the business, and its specific value needs to be reflected in the business scenario. Facing the digital needs of enterprises in different development stages and different application scenarios, what digital technologies should digital leaders match for their enterprises?

Core insight 6:

The ultimate purpose of introducing technology is to serve the business, so technology needs to reflect its specific value in the business scenario. Therefore, when embracing emerging technologies, enterprises should comprehensively consider the adaptability of technology and business, the foresight and maturity of technology, as well as their own R & D and application capabilities. Instead of excessively pursuing high-end and brand-new technologies, they should choose the most suitable ones for themselves.

● cloud services this survey shows that more than 70% of enterprises have used cloud services, 47% of enterprises are promoting and applying them on a large scale, and 29% of enterprises have carried out small-scale pilot projects. For entrepreneurial companies with large changes in business volume, frequent short-term projects and rapid growth, cloud services have become a better choice because they have certain elastic characteristics and pay on demand mode.

● SaaS software service-oriented (SaaS) market platform is the biggest winner of only sub cloud services. According to the survey and statistics, 33% of enterprises have promoted and applied SaaS services on a large scale, and 35% of enterprises have carried out small-scale pilot projects.

● the big data market is still popular. Although only 25% of enterprises have promoted and applied big data technology on a large scale, it accounts for the highest proportion in the “local pilot”, and 40% of enterprises have carried out small-scale pilot of big data. At the same time, enterprises mainly apply it to data-driven insight and decision-making.

Organization

In the digital age, in order to accelerate the incubation of digital practice results, enterprises need to make some innovative changes to the internal organizational structure model to make it more consistent with the digital development process. How should enterprises choose the appropriate organizational innovation model, how to attract talents, and maximize the use of external resources to promote the successful realization of digital strategy?

Core insight 7:

With the advancement of enterprise digitization process, the role of digital manager is becoming more and more important, and the influence of technology is gradually increasing. Digitization requires the in-depth participation of both business and technology. How to make business and technology objectives consistent and achieve efficient collaboration through a more “agile” organization model and supporting mechanism is a major problem that enterprises need to solve. At the same time, digital culture is not only the soil for cultivating enterprise digitization, but also an essential part of building enterprise collaborative organization.

Core insight 8: borrowing external capabilities

The digitization of enterprises is often limited by the shortage of digital talents and technical capabilities, which is particularly obvious for small and medium-sized enterprises. Therefore, it has become a better choice for small and medium-sized enterprises to use external forces to quickly build their own business, data and technical capabilities. Enterprises should view the enterprise digital cooperation system from the perspective of development, pay attention to the transfer of knowledge, and ensure the autonomy and controllability of core digital assets.

The above is extracted from Sequoia China’s 2021 annual guide to enterprise digitization.

At present, digitization has become one of the core driving forces driving enterprise growth, and this trend is becoming particularly obvious. In recent years, the endogenous development needs of enterprises and customers’ digital behavior have accelerated the digital transformation. In 2021, the first year of the 14th five year plan, the digital transformation of enterprises will further drive into the fast lane.

Over the past decade, Sequoia China has been actively participating in and promoting China’s digital wave. On the one hand, through a large amount of investment in the field of digital technology, promote the innovation and application of digital technology and gain insight into the digital practice of all walks of life. On the other hand, actively promote Sequoia invested enterprises to embrace digitization and actively apply digital technology in their respective businesses. In 2020, a full-time Sequoia digital enabling team was established to build The pyramid three-tier digital empowerment architecture with “strategic cooperation system, product empowerment and point-to-point empowerment” as the core enables enterprises comprehensively. Read more: Gartner: the survey shows that most CIOs are not ready for digitization. Sequoia China: insight report on urban elderly consumption in China in 2019 (with download) [ECS 2020] The second China CIO Summit on electronic communications and semiconductors has come to a successful conclusion! CIO of the U.S. Department of Commerce: five strategies for effective management of big data CIO: Ten insights from the digital age Accenture: six technical trends that CIOs should pay attention to: situational services take the lead CIO is facing the dilemma of choosing big data architecture Netease cloud: 2017 CIO career development report of Beijing, Shanghai, Guangzhou, Shenzhen and Hangzhou enterprises PwC: CI O how to build enterprise data analysis culture Diamond: Chief Information Officer (CIO) Using Twitter Research Report, CIO concerns: the next five key technologies PCs 2019 Second China Pharmaceutical CIO summit was officially launched, and the six highlights were the first to see Morgan Stanley: in 2014, the budget of European and American CIOs for it products and services will increase by 4.5%. Gartner: the eight big data myths that CIOs should eliminate most. Vanson Bourne: three major obstacles to CIO enterprise application mobility: cost, interaction mode change and people just

If you want to get the full report, you can contact us by leaving us the comment. If you think the information here might be helpful to others, please actively share it. If you want others to see your attitude towards this report, please actively comment and discuss it. Please stay tuned to us, we will keep updating as much as possible to record future development trends.

RecordTrend.com is a website that focuses on future technologies, markets and user trends. We are responsible for collecting the latest research data, authority data, industry research and analysis reports. We are committed to becoming a data and report sharing platform for professionals and decision makers. We look forward to working with you to record the development trends of today’s economy, technology, industrial chain and business model.Welcome to follow, comment and bookmark us, and hope to share the future with you, and look forward to your success with our help.