Compressed digital transformation proven to fuel 5X revenue growth

Our new Make the Leap, Take the Lead research offers proof that a strong digital technology core is the launchpad for revenue growth and innovation. I’m talking a staggering 5X faster than pre-pandemic times.

Before COVID, we knew that leading companies were growing 2X faster than Laggards.[1] But the “giant fast-forward button” of last year changed everything, including the rate of tech adoption. Leaders with a solid digital foundation were ready to seize the moment, according to our research of 4,300 global business and IT C-level executives in 25 countries across 20 industries.

In the face of unprecedented operational challenges and radically altered customer demands, they increased investments by 68 percent in hybrid cloud, by 59 percent in AI/machine learning, and by 70 percent in IoT technologies. And in the process, they more than doubled their performance gap over competitors to 5X. Our thought leadership provides clear evidence to make the business case for digital transformation. The reality is that every business is a technology business, and your enterprise technology strategy is the #1 pathway for growth. It also shows how indispensable technology has become to business success, enabling companies to not only survive, but thrive during one of the most disruptive times in history.

Learn from the Leapfroggers

Importantly, the research also identified something I didn’t expect. Despite the difficult times, a group of companies (18 percent), formerly in the pool of Laggards, adjusted their technology strategies with record speed and accelerated their digital transformation. They are outpacing peers with 4X revenue growth over competitors.

Let me repeat: They made bold and agile moves during a global economic lockdown when others stood still.

We call these companies Leapfroggers, and they should be lauded because they exemplify what’s possible by turning obstacles into opportunities, to achieve what I call “leadership through change.” Not only did the Leapfroggers increase their systems strength and innovation engine, but in some cases, they gained the ability to surpass even the Leaders.

Clearly, these Leapfroggers were determined. They were strategic in their technology decisions when they needed it most. And they left an indelible roadmap for companies now willing to make their own leaps.

In the report, you’ll find our analysis of what these Leapfroggers are doing, along with practical steps and examples of companies that are increasing their performance and growth through tech innovation at scale.

Read Make the Leap, Take the Lead today and get ready to move forward at warp speed to transform your business. Whether you are fending off competition in the Leader bracket or rising to the challenge as a Leapfrogger, I welcome your thoughts here on the report or how your company is accelerating its digital transformation journey.

[1] Future Systems: Finding New Value.