Chinese language Companies Stay Committed in order to Digital Change, but in a Reduced Pace, Based on Accenture Statement
Accenture’s digital enterprise evolution roadmap helps companies anchor future electronic transformations
SHANGHAI; Oct. 27, 2022 – New research from Accenture (NYSE: ACN) shows that Chinese companies have been making steady progress in digital transformation over the past five years, with 17% of them, “Champions, ” making decisive investments in adopting and scaling digital technologies to drive continuous business transformation, compared to just 7% in 2018. However , the overall pace associated with enterprise digital transformation within China in 2022 has eased amid a more complex business landscape.
“Over the past 5 years, Chinese companies have been successfully using electronic technologies to raise competitiveness and create value within new ways, ” said Samantha Zhu, chairperson of Accenture Greater China. “In the current environment, as companies manage internal and external challenges including market volatility and supply chain disruptions, maintaining productivity while also upskilling their workforce is key, and it’s critical that they continue to invest in digital systems to strengthen their core and generate continuous innovation. ”
The China Digital Modification Index research, now inside its fifth year, is a cross-industry framework that assesses companies across nine industries on their digital adoption and maturity. In 2022, 574 companies were surveyed. The research shows that there has been a slight increase associated with 1% point in the number of businesses qualifying as Champions since last year, however the average score measuring digital proficiency declined for the first time in five years from 54 to 52 between 2021 to 2022, out of a total achievable score associated with 100. Champions are also generating more than 50% of their present revenues through business activities that were implemented in the last three years.
All businesses were measured on a range of metrics that will look from how they are using digital technology to drive development, enhance operations that new opportunities with regard to growth. The research found that across the board, companies are prioritizing data-driven operations, but are less focused on research & development (R& D), because indicated by a 28% drop within score in providing customized products plus services. Champions, in particular, are developing smart products or services 8X more than others score-wise and are driving R& D through collaborative digital platforms a lot more than 2X higher.
The study also discovered that while most business leaders surveyed stated they would increase their electronic investments within the following one to two years, they might do so more pragmatically and prudently by paying attention to the immediate financial returns of digital projects.
To help companies successfully translate digital opportunities into financial performance, Accenture launched a digital enterprise evolution roadmap that enables individual companies to manage their own transformation process. As the first such map based on the index, it defines stages from the perspective of purpose, experiences, procedures and technology.
“Sustainable, purpose-led, high quality growth businesses and the continued modernization of industries is the key in order to China’s future economic development. During our 35 many years in The far east, we have worked closely along with our clients to enable the various stages of the change and believe that this new roadmap will help them better track and manage the particular progress of their electronic transformation efforts, unlock the value of digital, plus achieve total enterprise reinvention, ” added Ms. Zhu.
The particular report listed six important areas associated with action that will assist Chinese companies strengthen their particular digital modification:
- Leverage open advancement for long-term growth: By developing a full suite of innovation capabilities across their ecosystem associated with customers, partners and suppliers, companies can reshape their own competitive advantage – through improving technologies, products and services to supporting industrial upgrades plus sustainable advancement.
- Lead with human centricity: Shift the focus from optimizing touch points to offering value simply by developing items and solutions that meet customers’ essential needs and providing human-centric experiences with the help of digital technologies.
- Build platforms for the diversified workforce: Lead along with the combination of technology ownership and talent to improve workforce resiliency and allow a timely response to evolving business needs. Upskilling people in the electronic environment will greatly enhance operational efficiency and assist drive creativity.
- Enhance data-driven intelligent operations : Accelerate data aggregation in order to ensure the quality plus availability of the particular data on the cloud and pave the way for seamless data flow to support more frequent and complicated decision-making processes.
- Develop resilience via transparency: Gain full visibility across production lines, customers and providers by deploying analytics plus artificial intelligence. Secure a resilient supply chain to predict potential risks and act on them inside real-time.
- Realize the full potential of tech : As brand new digital technologies continue in order to emerge, businesses need to leverage them within combination to further accelerate reinvention and achieve synergy in products plus services invention, management and ecosystem growth.
About the Accenture Tiongkok Digital Alteration Index
The Accenture Cina Digital Change for better Index is really a cross-industry platform that analyzes a company’s rotation progress based upon 52 crucial metrics associated with four-level indicators. The study selected 574 Chinese language companies within nine sectors, including electronic components plus materials, high-tech electronic manufacturing, automotive and engineering machinery, medical and pharmaceutical, fast-moving consumer goods, logistics and aviation, traditional retail, chemicals/building material and metallurgy.
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Technology plus Operations solutions and Accenture Song — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 721, 000 people deliver on the promise of technology plus human ingenuity every day, serving clients in more compared to 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com .
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