Accenture-Doubling-Down-Drive-Digital-Transformation-Stay-Ahead

Digital Double-Down: How Far Will Leaders Leap Ahead?3New Accenture research about digital transformationconfirms what anecdotal evidence has pointed to thusfar: some companies are doubling down to drive digitaltransformation and accelerate ahead of their peers.Their evolutionary advantage?Their top managers deeplyunderstand what digitaltechnologies can do for theirbusinesses, far beyond basicefficiency gains, and they areactively investing to create digitaldisruption in ways that requireeveryone to respond.It is easy to assume there is time to becomea digital business—to see the world as itwas in 1999, when e-commerce became areality, or even 2009, when mobile phonesbecame more walking computers than toolsfor talking. The intentions, investments andactions of those doubling down on digitalhave reached a point where it is no longerprudent to wait.In just the last few years, “digital” hasbecome more consequential than newrounds of IT efficiency and enablement.The latest research from Accenture revealsa sharp divide between those who continueto view digital technology as a tool forsteadily improving existing businessactivities—digital followers—and thosewho clearly see something much moreprofound—the digital transformers. 1Digital transformers see significant growthpotential with digital where the followersdon’t. 1 52 percent of executives expect digitalto “completely” or “significantly” transformtheir industries, with the remainder expectingmoderate or no transformation—this accordingto the Accenture survey of more than1,000 executives across 20 countries and12 industries (see About the research, page 15).The digital transformers understandall too clearly how the nature of entiremarkets has changed—how WealthfrontInc., Airbnb Inc., Alibaba.com Hong KongLimited and others are up-ending wholeindustry segments—and they know thatsimilar dynamics are at work in manyunexpected ways in their industries too.This is anything but the isolated approachof a few start-up companies. Digitaltransformers exist in every industry,geography and size; collectively, theyconstitute a powerful, broad-based trendthat demands effective responses fromcompanies everywhere. Their aspirationsand investment plans set the pace, andthe actions of these organizations shouldbecome a core assumption of any futurebusiness strategy.1 For the purposes of this point-of-view paper, “digital transformers” are defined as those organizations which expect complete or significant transformation of their industries.“Digital followers” are defined as those organizations which expect moderate or no transformation of their industries.