Digital transformation to completely change UK's business landscape by 2021

We can expect a complete transformation of the UK's business landscape by 2021.

 

We can expect a complete transformation of the UK's business landscape by 2021. That is, if Fujitsu's new report is to be believed. The report says digital transformation will completely reshape businesses, making them virtually unrecognisable from today's perspective. 

The company polled 1180 C-suite executives, and almost half (44 per cent) said their organisation will not exist in its current form in the next five years. More than eight in ten (86 per cent) believe not only businesses, but entire sectors will change due to digital transformation. Pretty much all (92 per cent) realise that their businesses need to evolve if they are to survive and thrive.

That’s why it is little surprise to see 61 per cent saying digital disruption is the biggest challenge they are currently facing.  Customers (46 per cent) and competitors (41 per cent) are identified as the two main reasons behind this transformation and Google and Amazon (28 per cent) are seen as leaders in digital disruption.  The main effects (45 per cent) are “increased competition / new entrants to the sector”. 

“Digital is not only disrupting internal processes and customer service, it is changing the face of the UK business community itself. New entrants are coming into sectors they’ve never before played a role in and businesses are having to evolve to thrive in their new business environments,” commented Lucy Dimes, Chief Executive, Fujitsu UK & Ireland.  

“Digital disruption can boost revenue, make organisations more competitive and support innovation. But that potential is driving the concerns of business who fear falling behind competitors. Business leaders know they need to not only keep up but digitalise faster, with confidence, strategy and ultimately, success.”  The full report can be found on this link.

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