Most Canadian executives are putting their business at risk by failing to appreciate the effects of a digital economy. New IDC research has revealed that 67% of Canadian executives don’t believe the rise of digital technology is affecting their business right now. Further, only 17% of Canadian businesses have a clear digital strategy in place, despite 96% of executives knowing they will soon need one. Perhaps this is a calculated risk because they don’t yet feel a competitive threat; more likely, they are finding it difficult to define what digital means to them and establish a plan.
Whatever the reason, all businesses have to take seriously the threats and opportunities presented by digital technology. Getting started on the digital transformation path is best tackled by breaking the business into five parts - the operational core, the customers, the employees, suppliers and partners, and assets - and then determining where and how digital can create the most value.
This talk will discuss the impact of digital technology on Canadian businesses and give examples of where some businesses are already seeing success. He will also explain how businesses need to understand their digital starting points based on factors such as size, industry and strategic opportunities, before detailing how they can get started on building a practical digital roadmap.
84% of Canadian business leaders agree that ‘every business is a technology business’, yet only 17% see digital transformation initiatives integrated into their company’s corporate strategy. How can we bridge the gap for Canada? Statistics discovered from a new IDC study on digital innovation in Canada. Click here for a free download of the new IDC report.
Sam Masri, Managing Principal, Industry Value Engineering, SAP Canada