If you think that any recession in the economy next year will reduce the technical burden, think again.
In a new survey by Accenture, 73% of CEOs said their company would accelerate its “total business rethink” strategies in the event of a recession.
As you might guess, any “total business rethinking” requires technology. This means that managers and technicians have a lot of work to do, and business leaders will rely even more on them to achieve their much-needed transformation. We are talking about the cloud, automation and the introduction of intelligent data into business processes.
Three technical levels
What does “total rethinking of the enterprise” mean in business language? “Based on a strong digital core, it helps drive growth and streamline operations,” explain the authors of the report, led by Julie Sweet, President and CEO of Accenture.
This means rethinking and integrating three levels of technical initiatives:
- Infrastructure and Security Layer: “A modern cloud IT foundation that is automated, flexible and secure by design. »
- Data and AI layer: “AI-based applications and platforms that generate information for decision making. »
- Application and platform layer: “Where new experiences and ways of working are brought to life through streamlined, new and personalized applications and platforms. »
Accenture has found that “interoperability” between all of these layers is a strong selling point. “High interoperability companies increased revenue 6 times faster than their low interoperability counterparts and enjoyed an additional five percentage points of annual revenue growth. »
Most companies are not there yet. Only 8% of them can be considered “reinvented” in accordance with these principles, according to a survey of 1,516 companies. The rest are at different stages in their efforts to renew themselves with technology, but almost everyone admits they need to catch up. “Technology was once disruptive,” the authors of the report note. “Now she helps, confidence in turbulent times.”
With this in mind, most companies intend to invest or are very committed to a number of advanced technologies, including the following:
- Next generation computers (65%)
- Next generation intelligence (64%)
- Cloud services (61%)
- AI and automation (59%)
- Metaverse and Web 3.0 (48%)
- Network/Connectivity (42%)
Participation in key business areas is accelerating. A large share of technology investment is directed towards innovation, with the largest growth in technology investment recorded in research and development. Human resources should also benefit more from technology upgrade initiatives. IT itself will focus more on computerization, automation and adding intelligence to operations:
- R&D (+36% increase in spending over the next two years)
- Human resources (+35%)
- Core Operations (+33%)
- Information technologies (+32%)
- Marketing (+31%)
- Finance (+30%)
- Exit (+30%)
- Strategy and M&A (+30%)
- Sales (+28%)
- Customer service (+27%)
- Supply chain (+29%)
The digital core has become “a major source of competitive advantage,” the authors note. “To thrive in this world, businesses need a strong digital core to serve as a foundation for reinvention. The integrated operating model and new ways of working are supported by an enterprise-wide integrated data and technology platform that democratizes data across the enterprise. Data flow provides communication between teams in a networked organization, allowing the exchange of ideas and knowledge. »