The nature of disruption is changing. We are witnessing an incredible convergence of new business and technological innovations, which will change the way we live, work, and communicate.
The most significant trends in technology fueling this shift are hyperconnectivity, supercomputing, cloud computing, cybersecurity, blockchain, and the Internet of Things (IoT). These megatrends are changing the business landscape and empowering organizations to reimagine existing paradigms to capitalize on digital disruption.
According to the top ten 2016 global market predictions from research firm IDC, “By the end of 2017, two-thirds of the CEOs of the Forbes Global 2000 enterprises will have digital transformation at the center of their corporate strategy.”
Clearly, digital transformation is more pertinent than ever and is touching every industry. Sensor data analysis, predictive suggestion, real-time, contextual, and personalized consumer engagement (to name just a few) are the capabilities organizations will need in order to thrive, or simply survive, in a digital world.
As organizations embark on this journey, they also seek help with their business transformation and the new capabilities they need in a digital economy. The two main questions that industry leaders ask are:
- How do I evaluate my readiness to transform our business as compared to peers?
- What specific opportunities should I focus on in my enterprise?
To address such customer needs, SAP’s performance benchmarking team has developed a comprehensive enterprise digital readiness assessment. This benchmarking survey is designed to help organizations measure their digital adeptness. It also provides a performance comparison on best practices leveraged by digital leaders. The survey is available at no cost, and the participants receive results in real time. The personalized output report also illustrates how organizations can demystify the opportunities for digital transformation.
Here are few initial insights based on the more than 60 companies that have participated in the surveys to date.
- 92% of organizations are focusing on digital transformation as part of their business strategy, but only 5% are aggressive in the use of new digital technologies
- Organizations that lead peers in driving business process innovation are 1.7x more able to deliver on the personalization demands of customers
- Digital leaders are adopting blockchain technologies 1.6x more than other companies
- Digital leaders are 1.5x more likely to have a dedicated budget in place to support digital transformation initiatives