How Digital Innovation Hones Competitive Advantage

By Dennis McCafferty  |  Posted 05-18-2016 Email

A minority of executives describe their companies as "highly advanced" in their digital pursuits, according to a recent survey from KPMG. The resulting report, titled "Crossing the Enterprise Digital Divide: How Digital Strategies Can Sharpen Your Competitive Edge," reveals that most businesses do not derive a significant share of revenues from digital channels, for example, and few digital initiatives are "highly integrated" with existing efforts. The result is an increasing state of "haves" and "have nots" when it comes to these efforts, as high-performing companies are doing a better job of creating digital-based product lines while redefining revenue models. They're also more adept at either developing or supporting digital channels, while investing significantly into collaborative solutions and data analytics. "As organizations continue to experience business disruption and the global economy increasingly becomes more intensely competitive, organizations that can successfully execute digital and mobile initiatives create a competitive advantage," said Rick Wright, leader of U.S. digital and mobile solutions for KPMG. "Executives recognize their organizations cannot move forward without cohesive digital and mobile strategies, and those with more advanced deployments are delivering results in terms of revenues and faster time to market … We're at a critical inflection point for moving digital and mobile technologies in the enterprise, and the next few years will be transformative as enterprises embrace smarter and more efficient new ways of working." More than 500 executives in the United States and Canada took part in the research.

Dennis McCafferty is a freelance writer for Baseline Magazine.


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