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Rapid pace of change in business more evident after pandemic

Rapid pace of change in business more evident after pandemic
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Only six percent of companies are completely confident in their current abilities to foresee and respond to future disruption

Only six percent of companies are completely confident in their current abilities to foresee and respond to future disruption
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Accenture research reveals companies that scaled technology during pandemic saw revenue growth

Accenture research reveals companies that scaled technology during pandemic saw revenue growth
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Companies that Scaled Technology During COVID-19 Grew Revenue 5x Faster | 2021

May 7, 2021
NEW YORK Companies that “doubled down” on their investment in mostly data-heavy technology during the COVID-19 pandemic have seen their revenue grow five times faster than businesses lagging behind in innovation, according to a recent report.
The report, “Make the Leap, Take the Lead,” by the global consulting firm Accenture defines “leader” companies as those “stepping up” their adoption of tech, including the cloud, artificial intelligence (AI) and the Internet of Things (IoT). The firm released the report last week.
Companies that “just recently” invested in newer technologies for the first time are defined as “laggards” in the report. Their spending on tech was largely to maintain business operations during the pandemic, according to Accenture. ....

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Leading companies that scaled technology innovation during COVID-19 are growing revenue five times faster than lagging adopters

Leading companies that amplified their technology investments during the COVID-19 pandemic have significantly extended their growth advantage over competitors, according to new research from Accenture. The research reveals that technology has undeniably become indispensable to business success and directly enables companies to not only survive, but even thrive during one of the most disruptive times in history.
The new report shows that by stepping up investments in cloud, artificial intelligence (AI) and other technologies, ‘Leaders’ are now growing revenue at five times the rate of ‘Laggards,’ exceptionally higher than the doubled growth rate Leaders reported just a few years ago. In sharp contrast, many Laggard companies just recently invested in newer technologies for the first time, largely to maintain business and technology operations during the pandemic. This put Laggards even further behind and in the position of playing catch-up. ....

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