Firms that excel at scaling tech innovation are rewarded with greater profits
Organizations that excel at scaling technology innovation generate double the revenue growth, according to a new report from IT services and consulting firm Accenture.
The firm surveyed more than 8,300 organizations across 20 industries and 22 countries as part of its research, and scored companies on three key dimensions: technology adoption, depth of technology adoption, and organizational and cultural readiness.
By assigning a score for each of these factors, the study determined which companies were “Leaders” (top 10 percent) and which were “Laggards” (bottom 25 percent).
Tracking performance indicators between 2015 and 2023 (projected), the study identified the relationship between technology adoption and value achieved, finding that Leaders grow revenue at more than twice the rate of Laggards.
In 2018 alone, Laggards surrendered 15 percent in foregone annual revenue, and stand to potentially miss out on 46 percent in revenue gains by 2023 if they do not change their enterprise technology approach.
The research found that Leaders exhibit a distinct mindset and approach to enterprise-wide technology adoption and organizational transformation, often in contrast to Laggards.
Leaders are adopting technologies such as artificial intelligence (AI) at a rate of 98 percent compared with just 42 percent of Laggards. Leaders are also using tools that enable decoupled data, infrastructure, and applications. Leader adoption of technologies such as DevSecOps, microservices, and containers outpaces that of Laggards by 97 percent to 30 percent.