Companies are moving toward digital transformation at a rate faster than ever before due to a number of factors—productivity and impact on the bottomline are no doubt some of the top reasons. Still some of the other drivers of this movement include what the customer and the employee are demanding.
As we all know, customer is king and is the reason for many business decisions. But what about the employee? IDC (Intl. Data Corp.) surveyed IT and C-level managers on how their companies were dealing with the digital universe we reside in today and found their respondents are engaging and using online collaboration technologies for digital transformation implementation.
In fact, while “digital first” prevails in every experience, 60% of enterprises will invest heavily in digitizing employee experience in 2021, transforming the relationship between employers and employees.
According to the new report, IDC FutureScape: Worldwide Digital Transformation 2021 Predictions, despite a global pandemic, direct DX (digital transformation) investment is still growing at a CAGR (compound annual growth rate) of 15.5% from 2020 to 2023 and is expected to approach $6.8 trillion as companies build on existing strategies and investments, becoming digital-at-scale future enterprises.
The key predictions that will impact CIOs and IT professionals with regards to digital transformation in the next one to five years, IDC finds, can be summed up in ten bullet points.
- Accelerated DX Investments Create Economic Gravity. The economy remains on course to its digital destiny with 65% of global GDP digitalized by 2022 and will drive more than $6.8 trillion of direct DX investments from 2020 to 2023.
- Digital Organization Structures and Roadmaps Mature. By 2023, 75% of organizations will have comprehensive digital transformation implementation roadmaps, up from 27% today, resulting in true transformation across all facets of business and society.
- Digital Management Systems Mature. By 2023, 60% of leaders in G2000 organizations will have shifted their management orientation from processes to outcomes, establishing more agile, innovative, and empathetic operating models.
- The Rise of the Digital Platform and Extended Ecosystems. By 2025, driven by volatile global conditions, 75% of business leaders will leverage digital platforms and ecosystem capabilities to adapt their value chains to new markets, industries, and ecosystems.
- A Digital First Approach. While “digital first” prevails in every experience, 60% of enterprises will invest heavily in digitizing employee experience in 2021, transforming the relationship between employers and employees.
- Business Model Reinvention. By 2021, at least 30% of organizations will accelerate innovation to support business and operating model reinvention, fast-tracking transformation programs to future-proof their businesses.
- Sustainability and DX. By 2022, the majority of companies will realize greater value by combining digital and sustainability, giving rise to digitally driven and sustainably enabled projects as the de-facto standard.
- Digitally Native Cultures. To thrive in digital supremacy economy, 50% of enterprises will implement the organizational culture optimized for DX in 2025, based on customer-centric and data-driven.
- Accelerating Digital Experiences. By 2022, 70% of all organizations will have accelerated use of digital technologies, transforming existing business processes to drive customer engagement, employee productivity, and business resiliency.
- Business Innovation Platforms. By 2023, 60% of G2000 companies will build their own business innovation platform to support innovation and growth in the new normal.
How does your company’s plan for the digital future anticipate these transformative events?
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