Savvy leaders know that boldly investing in digital transformation is a smart move in an uncertain business climate. They recognize unpredictable economic forces as a golden opportunity to embrace change—to reinvigorate the business with technologies that simplify and buoy operations in rough waters and prepare the organization for new opportunities when the storm clears.
The fact is technology, as part of the overall enterprise landscape, has evolved well past its antiquated perception as a cost center. Today, cloud, data, and AI strategically drive business growth. It’s a strategy we at Accenture are calling “Total Enterprise Reinvention,” and we see it as vital to achieving long-range business success. Yet, our research has found surprisingly few top executives currently follow such a strategy.
In an Accenture report, Total Enterprise Reinvention, released at the World Economic Forum in Davos, Accenture describes how only a handful of the 1,516 C-suite executives surveyed have adopted a total enterprise reinvention strategy. Centered on a strong digital core and powered by advancements in AI and cloud computing, this strategy sets new performance frontiers across the enterprise to optimize operations, drive growth, and encourage new ways of working.
Reinvention means that IT has become central to driving down costs, identifying operating efficiencies, enhancing productivity, reimagining ways of working, and ensuring business resiliency both during economic downturns and through renewed periods of economic growth.