Leaders & Laggards

Leaders & Laggards

Before COVID-19, digital transformation was already on the radar screen for many business leaders. Six months later, it has moved to center stage, as the vast majority of C-level managers now understand that digital transformation may be a life-and-death matter for their organizations.

Digital transformation = agility and efficiency. Those are no longer just “nice-to-have” attributes.

Back in May, Julie Sweet, the CEO of Accenture, was interviewed on CNBC’s “Squawk on the Street”. She addressed the critical nature of investing in digital technologies:

“What we’re seeing is that almost overnight there has become a major performance gap that existed pre-crisis between the leaders in technology adoption & digital, and the laggards. Pre-crisis… the top 10% of companies leading in technology were performing twice the bottom 25%. Almost overnight the digital performance gap has widened because right now the leaders who’ve already invested are able to adjust their supply chains faster; they’re able to adjust to the new way of buying. …The leaders are doubling down. The laggards are aggressively partnering to figure out how they can accelerate, but with laser focus because it just became harder from a cost perspective.” (emphasis added)

Watch the full video below:

Jim Kofalt has spent over two decades working with ERP and CRM software for companies of all sizes. He spent 16 years at SAP working with SME business applications. Prior to that, he was a product manager for integration technology at Microsoft's Business Solutions division and has managed numerous ERP implementations. He operates a consulting business specializing in business IT. He has a bachelor's from Georgetown University and an MBA from Syracuse University's Whitman School of Management.

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