Most businesses will be software-driven within two and a half years, a new study has shown.
Those are the results of a global study called The Battle for Competitive Advantage in the App Economy, commissioned by CA Technologies. The study revealed the need for speed in the application economy, as companies transform into software-driven enterprises.
Forty-three percent of those surveyed believe that becoming a software-driven enterprise is a critical driver of competitive advantage today, rising to 78 percent in three years.
Conducted by Oxford Economics, the study surveyed senior business and technology executives around the globe about application strategy and its impact on business outcomes.
Becoming a more software-driven company has positive impacts on market share, development of new products, as well as financial performance.
Increased agility and faster time to market top the list of competitive strategies for companies in the application economy. According to respondents who have already begun adopting more advanced software strategies, this transformation is having significant impact on their time to decision: 45 percent claim this today, and 61 percent expect it to be the case in the next three years.
“It is encouraging to see that European organizations are ahead in adopting and understanding the potential of the application economy,” said Marco Comastri, General Manager and President EMEA, CA Technologies.
Even though the transformation is already taking place, biggest challenges are still ahead of us, the survey says, adding seven rules of engagement that companies should follow as they seek competitive advantage:
- Be ready to break the rules
- Squeeze the value out of data
- Learn to listen
- Guard data fiercely—and know what you are protecting
- Bring innovation to collaboration
- Give the people what they want
- Remember that culture eats strategy for lunch
The full report can be found on this link.