Companies investing in digital technologies and improving customer experiences will be able to identify new growth opportunities in this slow-growing economic environment, according to management and technology consulting firm Accenture.
In a research report titled ‘High Performers in IT: Defined by Digital’, the company, after speaking to senior IT executives from 200 global companies across industries, pointed out that high performers devote 55 per cent of their IT budgets to delivering strategic capabilities that support growth and business performance. In comparison, their counterparts invested 37 per cent, almost 50 per cent less than top performers.
This study was conducted across private and public sector organisations in North America (19 per cent), Latin America (15 per cent), Europe (45 per cent), and Asia Pacific (20 per cent).
Further, Accenture’s research found that the adoption rate of key technologies such as cloud computing, business analytics, social media, mobility and security resulted in higher performance among companies that excel in their use of IT than their counterparts. However, the report did not mention the quantum of improvement in performance.
The research further said these companies have understood the impact of digital IT to create new products and services and accordingly have embraced them. For example, the engines on Boeing’s new 787 Dreamliner aircraft are designed to automatically share engine status, help service teams in maintenance, reduce costs and increasing its lifespan.
Coupled with predictive-analytics technology, the performance data help optimise aircraft maintenance and flight operations, anticipating the need for parts replacement, which in a normal scenario is a long drawn out process.
When it comes to mobility, high performers are leading the way and 69 per cent of them are committed to mobile transactions compared to 42 per cent of other organisations, which allows their customers to transact on the move, according to the survey.