Companies across the world have navigated an unpredictable and unprecedented 2020. The COVID-19 pandemic and corresponding economic uncertainty has exposed vulnerabilities for businesses and pushed many to self-reflect on past, current, and future strategy.
A constant through this disruption is the increasing use of digital technologies. IDC puts global spend on digital transformation (DX) technologies and services for these programs at $1.3 trillion in 2020.
Our global survey of industrial companies supports this sentiment with 92% already on their DX journey. However, our analysis exposes critical nuances to DX strategies based on their maturity, which fall into three distinct stages: Planning, Piloting, and Rollout. The evolving mindsets for attainable value shifts for each stage from understanding where value is (planning), proving value exists or is realizable (piloting), and scaling value across the organization (rollout).
Companies at these different stages have distinct needs, project priorities, and potential blind spots. In this report, we complement data-driven insights and key takeaways from our global survey with case-study driven recommendations for each of these stages. The result is a framework for industrial organizations to use as a benchmark for where they are in their DX journey and how their priorities compare with the market.
The time for Digital as a strategic organizational pillar is now
Even with economic uncertainty, COVID-19 hasn’t delayed digital projects and, in many cases, has pushed them further along. 41% of companies are continuing with their original program timeline and 25% cite newly introduced or accelerated DX projects. 93% of digital leaders claim digital investments made prior to the pandemic allowed them to be more agile in their response.
Digital is here to stay, and the competitive landscape will shift in favor of ‘digital leaders’ versus ‘digital laggards’ over the next decade and beyond. Leverage our data to benchmark your DX program’s current status, ensure your priorities and goals are aligned with your stage, and execute on our recommendations to achieve unparalleled impact, uncompromising speed, and unrestricted scale in unprecedented times.
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EVP, Digital Transformation Solutions
VP, Digital Transformation Solutions
Senior Research Analyst