On the Job by Anita Bruzzese What Your Company Must Do to Succeed Digitally

On the Job by Anita Bruzzese What Your Company Must Do to Succeed Digitally A recentsurveyof 2,000 business and technology executives by PwC finds that that there is a direct link betweendigital investmentand corporate performance. Specifically, the report finds that digital leaders are twice as likely to achieve more rapid revenue and profit growth as the laggards in the study. These digital leaders are more deliberate in their digital strategy, the report finds, and also show a greater CEO commitment, a strategic clarity and a broad view when it comes to applying technology and identifyingnew sources of innovation. Its not that other companies dont have a commitment to digital: 86% of CEOs are pushing digital technologies compared with 57% in 2013. In addition, 31% report their companies are investing more than 15% of revenue into technology investments that include allareas of the business, not just IT. But the digital leaders are better at not only linking digital toreal gains, but also are more adept at consistently measuring the value of their digital investments, the report says. Based on its research, PwC identifies the 10 characteristics that will spur digital growth: The CEO champion.The CEO is the natural leader as the focus on technology has shifted fromoperational efficiencyto growth, and the stakeholders and conversations have changed, the report says. Digital leaders set strategy.As CIOs and CDOs become more involved in setting the strategy, some organizations may have to change the way the organization is structured. For example, a global healthcare company uses a digital council that brings together CIOs and CMOs, who work together on bothdigital strategyand execution. The C-suite is on board.While the CIO and CMO may collaborate, research shows its often a weak relationship only 54% rate it as strong compared to the CIO/CEO relationship that is rated at 70%. But getting all the C-suite players on the same page means theres greater(read more here)