Editor’s note: Nick Tzitzon is the chief strategy and corporate affairs officer at ServiceNow. He guest edited the Unleashing Digital Value issue of Workflow Quarterly.
We live in uncertain times, marked by economic turmoil, geopolitical strife, and ecological peril.
But the flip side of every challenge is an opportunity—a chance to think differently, do better, and make a difference. Organizations that embrace a culture of innovation will have the best chance to thrive.
To understand how digital leaders are using advanced technology to create value for their stakeholders in this tumultuous environment, ServiceNow and ThoughtLab conducted a survey of 1,000 global C-level executives in five industry sectors across 13 countries. Annual revenues of their companies ranged from $350 million to more than $5 billion.
We categorized respondents as beginners, intermediates, or leaders, based on their levels of innovation across people, processes, and technology. This helped us identify the best practices of innovation leaders, as well as the benefits to be gained by moving to the next stage of maturity.
More than half of all respondents said fostering a culture of innovation drives revenue growth. What’s more, companies on the cutting edge were much more likely to unlock a wide range of benefits, such as better customer service and more satisfied customers, along with new products and business models.
Technology alone, however, can’t solve the challenges facing businesses and the world. The human element is just as important. On this front, many organizations still have work to do. Currently, only 10% of companies involve customers in decision-making around innovation, and only 5% involve their own employees.
We packed this issue of Workflow Quarterly with stories that highlight the strategic benefits of digital innovation. On the next page, we share research findings on how successful companies build innovation into their cultural DNA. On page 10, Janet Rae-Dupree reports on how continuous learning makes knowledge workers more productive. On page 18, Evan Ramzipoor shows how innovation leaders build the future by listening to their customers and employees. And on page 24, we feature an excerpt from “Future Ready,” a new book that lays out practical advice to help companies prepare for whatever the future holds.
The challenges we face are big. This issue of Workflow Quarterly demonstrates that digital innovation can help people and organizations thrive no matter what the future may bring.
Thanks for reading.