Leading a Future-Ready Business: Digital Transformation
On pace to effectively compete?
Accelerating technological innovation is disrupting established business principles within companies and across industries, and moving businesses towards a radically different future environment. This unprecedented pace of change creates a mandate for businesses to reinvent their operations, restructure their product offering, and rethink the way they create value. To survive long term, business leaders are forced to adapt and find new emerging opportunities.
With this backdrop, Canon Business Process Services in association with Hanover Research, a leading market research firm, surveyed the environment to better understand the forces that are driving change in business and how they may shape business towards 2025. Digital Business Transformation covers:
- The Rise of Digital Business and Continuous Change
- Emerging Digital Business Model
- Trends in Business Process Execution
- The Business Landscape 2025
Additional Leading a Future Ready Business reports are coming soon and will feature topics on: Disruptive Technologies, Changing Talent and Workplace and Leadership.
Cultural forces are putting unprecedented demands on today's business leaders
Executive Summary and Key Findings: The Digital Business Transformation
Organizations are focusing more and more on leveraging digital technologies, such as social, mobile, analytics, and cloud, to transform themselves into digital businesses. However, despite the fact that over half of all businesses are investing in digital technologies, only about a third are investing in technologies as part of an overall business strategy.
In order to keep up in the business world and to remain competitive and cost-effective, companies must emphasize investment not only in new technologies, but in managing broader change associated with digital business.
Digital business has shifted from the province of distinct system acquisitions and transformation initiatives into mainstream operations. Business processes from the back office to the customer interface will undergo transformation over the next decade. Executives say that their top priorities are now continuous process improvement and increasing the level of automation. In the digital business, centralized control facilities will monitor core, extended and outsourced service levels. Processes will be web, workflow and self-serve enabled.
Companies will increase their reliance on outsourcing of general and administrative functions. But this time the outsourced services will be digital.
Digital business is a reality and it is driving an accelerating pace of change. Yet, only about a quarter of business leaders are actively responding.