Technology-oriented companies grow faster than their “laggard” counterpartsBy The IJ Staff | December 03 2019 03:04PM
Canadian companies with a carefully calibrated strategy for technology adoption and a clear vision for what their companies’ future systems should look like are growing 2.5 times faster than companies that are struggling to scale, says new research from professional services company, Accenture.
The global report, entitled Full Value, Full Stop. How to scale innovation and achieve full value with Future Systems, scored companies on technology adoption and the depth of technology adoption, along with organizational and cultural readiness to identify and determine which companies were leaders that are building enterprise systems capable of scaling innovations repeatedly, and laggards who are adopting technologies, but in a piecemeal fashion.
The research found that between 2015 and 2018, a typical laggard company in Canada will have given up US$4-billion in annual revenue and stands to miss out on almost US$22-billion in revenue gains by 2023 if it does not change its enterprise technology approach.
“Today’s C-suite is investing staggering amounts of money into new technology, but not every company realizes the benefits of innovation that results from those investments,” says Nicholas Bayley, managing director and head of Accenture Strategy in Canada. “Canadian companies that want to be successful in today’s post-digital, data-driven economy need future enterprise systems that allow them to innovate at scale while unlocking value currently trapped by legacy systems and processes.”