Some hot-off-the presses data released at the recent TIBCO NOW Executive Summit shows that companies farther down the Digital Transformation path actually innovate faster. In fact, for executives that consider their company and people experts in digital, nearly 3 in 4 said they are innovating or disrupting in their industries.
See how that compares to companies that believe they’re lagging on digital maturity below:
- 71.4% of Digital Experts are disrupting or innovating
- Only 20% of Digital Beginners are disrupting or innovating
- Only 51% of Digital Conservatives are disrupting or innovating
While the numbers make it clear that digital maturity and innovation are inextricably linked, the path companies take to get there can be different, requiring openness, the willingness to change, and relentless execution.
So, how can you advance your digital transformation strategy more quickly, and start innovating faster?
In today’s post we offer some great insight from Deloitte’s research report on Achieving Digital Maturity: Adapting Your Company to a Changing World. The report provides a wide range of info and knowledge on what sets digitally mature companies apart, where to invest in business intelligence and analytics, and lessons learned along the way.
When it comes to innovation and digital maturity, Deloitte’s survey echoed the TIBCO findings, stating that “at digitally maturing entities, small “i” innovations or experiments typically lead to more big “I” innovations than at other organizations.”
Perhaps most notably, the research report shares five key practices of digitally mature companies that can help your company close the gap and accelerate innovation. Here’s what they’re doing:
- Implementing systemic changes in how they organize and develop workforces, spur workplace innovation, and cultivate digitally minded cultures and experiences.
- Playing the long game – looking ahead not one or two years, but five or more.
- Scaling small digital experiments into enterprise-wide initiatives with business impact.
- Becoming talent magnets.
- Securing leaders with the vision necessary to lead a digital strategy, and a willingness to commit resources to achieve this vision.
Want to learn more?
Read the entire Deloitte report here.