A recent study by IDC Canada, with SAP Canada, conducted during the pandemic, revealed that tech companies that had a digital strategy came out stronger than those that didn’t.
Indeed, 95% of Canadian companies now have or are in the process of having a digital strategy, although only 12% stated that the strategy is completely integrated into the business. The pandemic has seemed to drive IT leaders to vote for a digital strategy in order to remain ahead of the competition. Hence, 64% of enterprises are keeping or increasing their level of investments in digital.
Although each organization has a different level of digital maturity and some were more ready than others, the pandemic helped sped up the process. The study reported that the telecom/media, oil & gas, and manufacturing sectors had a higher percentage of companies implementing a digital strategy into its core business.
Moreover, the research identified the most important skills to have in order to achieve digital success: businesses need to be able to link the use of new tech to their outcomes as well as improving communication, driving cultural change, and listening to feedback. For this, the survey revealed that almost half of IT leaders were ready to adjust their workforce in order to support new digital initiatives.
Concerning a change of management strategy, 41% of participants answered that they either did not have one or were developing one, while only 16% said their change management was integrated into their digital strategy. Among IT Leaders, 47% reported that they have change management implemented into their digital strategy.
The research concluded that digital transformations were vital in order to survive this new environment. Businesses that have invested in digital strategy before or during the pandemic were able to better deal with its impact and grow.