When companies reinvent themselves through technology

If you think an economic downturn will result in a lighter tech workload next year, think again.

in a message detection According to Accenture, 73% of executives said their company would accelerate its total business reinvention strategies in the event of a recession.

As you can imagine, any “total business reinvention” requires technology. This means managers and technology professionals have plenty to do, and business leaders will depend on them even more to achieve the transformation they so desperately need. It’s about cloudification, automation and bringing intelligence into business processes.

Three technical layers

What does “total enterprise reinvention” mean in business jargon? “Due to a strong digital core, it helps drive growth and streamline operations,” said the authors of the report, led by Accenture President and CEO Julie Sweet.

This means reinventing and merging three layers of technical initiatives:

  • The infrastructure and security layer: “A modern, cloud-based IT foundation that is automated, agile and secure. »
  • Data and AI layer: “AI-driven applications and platforms that generate insights for decision making. »
  • Application and platform layer: “Where new experiences and ways of working are brought to life through modernized and new and personalized applications and platforms. »

Accenture has found that “interoperability” between all of these layers is a strong selling point. “Companies with high interoperability grew revenue six times faster than their low-interoperability peers and unlocked an additional five percentage points of annual revenue growth. »

key technologies

Most companies are not there yet. Only 8% of them could be considered “reinvented” according to these principles, the survey of 1,516 companies shows. The others are at different stages in their efforts to reinvent themselves through technology, but almost all recognize they have to catch up. “Technology was once a disruptor,” the report’s authors point out. “Now she is the enabler, a certainty in turbulent times.”

With this in mind, the majority of companies intend to invest in, or are heavily committed to, a number of advanced technologies, including the following:

  • Next-generation computing (65%)
  • Next-gen intelligence (64%)
  • Cloud Services (61%)
  • AI and Automation (59%)
  • Metaverse and Web 3.0 (48%)
  • Network/Connectivity (42%)

Engagement in key areas of the business is accelerating. A large portion of technology investment is devoted to innovation, with research and development seeing the largest increase in technology investment. Human resources should also benefit more from technology-driven reinvention initiatives. IT itself will focus more on computerization, automation and adding intelligence to operations:

  • Research and Development (+36% increase in spending over the next two years)
  • staff (+35%)
  • Main operation (+33%)
  • Information Technology (+32%)
  • Marketing (+31%)
  • Finance (+30%)
  • Performance (+30%)
  • Strategy and mergers/acquisitions (+30%)
  • Revenue (+28%)
  • Customer Service (+27%)
  • Supply chain (+29%)

The digital core has “become a primary source of competitive advantage,” the authors observe. “To thrive in this world, organizations need a strong digital core that serves as the foundation for reinvention. The integrated operating model and new ways of working are underpinned by an enterprise-wide integrated data and technology platform that democratizes data across the enterprise. The data stream creates connections between teams in the interconnected organization and enables the exchange of ideas and knowledge. »

Source : ZDNet.com

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