A new survey showcases the delta between vision and implementation in digital transformation. Accenture’s recent report, “Your Legend or Your Legacy” found that C-level execs embracing bold technology initiatives are reaping the rewards. Yet the number who do so is surprisingly small – Accenture finds only 10% are investing optimally in technology and adoption decisions to realize full value of those investments. Further, Accenture finds that, “By adopting new technologies more aggressively and breaking down barriers to effectively scale innovation across their organizations, these leading companies are generating more than twice the rate of revenue growth than those on the lower end of the spectrum.”
The study was conducted with 8,300 organizations across 20 industries and 20 countries.
Accenture offers five key factors— or “PATHS” — that it has identified as distinguishing the top 10% of companies from the rest:
- Progress: The extent to which companies apply new technology to evolve business processes across the enterprise. One example is the use of cloud and artificial intelligence (AI) to increase the effectiveness of multiple business processes rather than working in silos.
- Adaptation: Ensuring that IT systems can adapt and respond to changing market conditions with actions such as decoupling from legacy systems and using cloud services as a catalyst for innovation.
- Timing: Creating an appropriate sequence and roadmaps for deploying new technology. This begins with identifying foundational technologies and prioritizing adoption based on their enterprise-wide impact.
- Human+machine workforce: Using technologies to augment employees and make work more engaging while simultaneously realizing efficiency gains. This could entail delivering technology-augmented training that is personalized and experiential for working with technologies of the future.
- Strategy: Actively aligning business strategy and IT strategy and weaving technology investments together to better seize opportunities.
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