Performance and innovation are the rewards of digital transformation From Boston Consulting
The following is the Performance and innovation are the rewards of digital transformation From Boston Consulting recommended by recordtrend.com. And this article belongs to the classification: Boston Consulting, research report, network marketing.
The 2021 study involved more than 850 companies worldwide. The survey shows that only 35% of companies have achieved their digital transformation goal, slightly higher than 30% in 2020.
Moderate growth may reflect an “empirical effect” because the 2020 study described six success factors, which together increased the probability of transformation success from 30% to 80%.
The bottom line of digital transformation is that they have a clear and significant financial impact. On average, companies that addressed the six success factors reported a 21% increase in EBIT for businesses within the scope of transformation, while companies that did not address the six success factors reported an average increase of only 10%.
Performance improvement is largely independent of the focus of transformation. This shows that companies are doing well in a key component of their integration strategy: focusing their transformation plans on where they can drive the most value.
Companies that have been successful in the first wave of digital transformation report greater success in expanding these capabilities to create broader and sustainable change.
For companies that have started the first wave of transformation plans, the focus is clearly shifting from digital restructuring to innovation. These companies use the first wave of digital transformation to solve all the important basic problems of their core business, digitally restructure customer journey and sales and marketing channels, and use digital solutions to improve productivity. Today, companies that have successfully transformed are shifting their focus to core innovation and new enterprise innovation. Successful digital transformation is increasing the stakes. As they use digital technology to innovate faster and better, the gap between successful digital transformation and backward competitors will also expand.
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