![]() He also insists that digital transformation is a journey, which he explains is not a “single instance” but is, in fact, the foundation for business resilience. Prior to the pandemic, the push for digital transformation was more like a gentle nudge.Īnd the resiliency brought by digital transformation is a key component of preparing for any future disruptions, like the pandemic. ![]() Most companies were aware they needed to invest in a digital strategy to become a connected business and to find success in the digital economy, but their disconnected, legacy solutions were still able to get the job done-albeit inefficiently. They didn’t know, however, that they would face unprecedented lockdowns, being labeled a “non-essential” business, having to quickly turn their workforce into remote workers, and needing to bolster its omnichannel commerce capabilities. They figured it out once the pandemic was in full force, but the reality is, they were caught flat-footed. “For the last year, most businesses have been scrambling to catch up, or, at best, keep up with the pace of change,” write the authors of BDO Digital’s 2021 Middle Market Digital Transformation Survey of 500 middle market C-level executives. The report asserts that it’s time to shift from a recovery mindset to one of growth, and it appears that middle market organizations are getting the message. Midmarket organizations are hitting the fast forward button on their digital transformation efforts. ![]() Ninety percent plan to maintain or increase their digital spending in 2021, 51% are adding new digital projects, 49% are revising their long-term strategic vision, and 43% are accelerating some or all existing plans. How do organizations compare?īDO’s Benchmarking Report, which gets its data comes from the BDO Digital 2021 Middle Market Digital Transformation Survey, provides a comparison of how Lower Middle Market ($250M-$750M) organizations and Upper Middle Market (4751M-$3B) organizations are doing with their digital transformation efforts. ![]()
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