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Canadian businesses committed to digital technology: Accenture

Canadian businesses committed to digital technology: Accenture 

According to the report, which included insights from senior Canadian executives, Canadian business leaders have a better understanding of the connection between digital business models and growth than their global counterparts. Accenture says its digital investments are focused mainly on driving growth vistas rather than achieving efficiencies, which suggests Canadian businesses are inclined more toward growth orientation than any other mature economy.

Moreover, respondents said that responsibility for digital innovation of Canadian enterprises should rest with someone in a tech role, with 35 percent and 27 percent citing the CIO and CTO, respectively. On the other hand, 23 percent of Canadian respondents said this responsibility should rest with the CEO, in contrast with a global sampling of 35 per cent. Four in 10 Canadian executives said lack of senior executive support is the main challenge when implementing digital initiatives.

“Our research suggests that Canadian business leaders appear more committed to implementing digital technologies than their counterparts elsewhere and they are more likely to see digital business models not merely enabling greater efficiencies, but driving growth opportunities.” said Stephen Gardiner, CMD, Strategy and Digital, Accenture.

The study shows that Canadian business leaders feel strong enthusiasm for the role of digital transformation in improving business. They are more likely than their U.S. counterparts and other big markets to consider all major digital technologies—including data analytics, mobile, social media, machine-to-machine communication, e-commerce and cloud computing—important to their company in 2014.

“Accenture highlights some steps businesses can take to effectively capitalize on their digital investments. Businesses should redefine “digital” and recognize that all customers are digital customers. They should also keep an eye out for potential disruptors, and defend against them, while also seeking disruptive innovation themselves. Finally, to become a digital enterprise, they should deploy digital technologies with a mind toward reshaping operations.”

To read the full report, please visit Accenture’s website.

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