MUMBAI, India (PRWEB) April 20, 2021
Digital Transformation is not a magic wand; it is a complex yet essential enterprise commitment to change. The Deloitte Digital Transformation Survey 2020 found that greater digital maturity is associated with better financial performance. The higher-maturity companies in this year’s sample were about 3X more likely than lower-maturity companies to report annual net revenue growth and net profit margins — a pattern that was consistent across industries.
Antonio Neri of HPE hits the spot when he says, “Digital transformation is no longer an option for enterprises, but a strategic imperative.”
BCG research shows that 80% of companies plan to accelerate their companies’ digital transformation plans, primarily incentivized by the global pandemic implications. The same study also concludes that only 30% of digital transformations have achieved their objectives which is troubling.
McKinsey’s analysis shows that bold innovators emerge from crises substantially ahead of peers — and maintain this advantage for years to come. Innovators not only outperformed the market during the financial crisis but continued to widen the gap during and after the recovery. Analysis of the performance of approximately 2,000 companies between 2007 and 2017 against the S&P 500 reinforces those conclusions: staying focused on growth and innovation through a downturn helped the top-performing companies to generate higher returns to shareholders.
Almost every organization has stepped up its digital transformation efforts in 2020–21. Success is as much about the right technology platform choice as it is about leadership, agility, talent, and a clear vision. A new and emerging factor is consumers wanting the brands they use to focus on sustainability issues.
As a first step, 26 CEOs of Europe-based companies have signed a Declaration to support Green and Digital Transformation of the EU. They formed a European Green Digital Coalition, committing on behalf of their companies to make the tech sector to become more sustainable