80% of companies are concerned about digital disruption
80% of firms are concerned about digital disruptions and competition, this according to a new report by Accenture and HfS Research titled “See More, Do More, Be More – The Future Belongs to Intelligent Operations.”
The report identifies digital disruption, data explosion and customer experience as the driving forces behind the need for companies to transform how they do business.
What companies have traditionally relied on to improve performance—process optimization, cost reduction, and predictability—are no longer delivering what’s needed to maintain market share and grow new customers. With cost reduction no longer the top goal, driving top-line growth has become equally, if not more, important.
The report asserts that market survival and growth today requires quick action—with intelligence, insight, and confidence—to changes in the competitive and customer landscape. That requires actionable data and most firms are lacking it as the report found that respondents believed 50-90% of their data is largely unstructured and inaccessible.
The report identified five essentials of intelligent operations
1. Innovative Talent. Entrepreneurial drive, creativity and partnering ability are organizations’ top three areas of talent focus.
2. Data-driven Backbone. Over 90% of organizations believe that data-driven decisions will help them generate breakthrough customer insights.
3. Applied Intelligence. Nearly 90% of organizations believe the Triple-A Trifecta of automation, analytics, and artificial intelligence (AI) will become the holy grail of business and process transformation.
4. Leveraging the Power of the Cloud. Over 90% of enterprises researched expect plug-and-play digital services with enterprise-grade holistic security, which is possible today through the power of cloud infrastructure.
5. Smart Partnership Ecosystem. Over 90% of enterprises feel they need to partner closely across the ecosystem to exploit market opportunities.
According to the report, the future belongs to organizations with intelligent operations that enable them to have a 360-degree view of their supply chain, enabling quicker, insight-led decision-making to keep pace with customers’ ever-evolving expectations.
Click here to read the complete report.
To learn more about how to the latest digital supply chain solutions, make plans now to attend MODEX 2018 – April 9-12 in Atlanta – and check out the Smart City Logistics and Connected Supply Chain Solution Center for exhibits and education on digital supply chain solutions.