Businesses in the UK are at a crossroads: the path of success in through complete digitisation of services. Those companies that stray from the path of digitisation risk eroding their business, while those that force innovation in the digital realm will open the doors to better user and customer experience, more productivity and an increase in the bottom line.
Figures from the Office for National Statistics suggest output from UK businesses grew only 0.5 per cent in the last quarter. But here comes the fun part – businesses know that the path through digitisation is a good one – yet very few have a clear strategy.
“Companies only use technology to solve discrete organisational problems rather than to transform the output of their business,” according to the Albion Growth Report.
Four out of five businesses cite digital transformation as a priority, yet just a third (35 per cent) have a clear strategy.
According to James Parsons, Founder and CEO of Arrows Group Global, businesses absolutely must put talent at the heart of any such strategy.
“Digital technologies are completely redefining what it means to be competitive. Initiatives designed to boost a firm’s productivity must form part of a wider strategy for digital transformation, or the business will always be a step behind,” he says.
“Access to the right digital talent is now a major factor behind business success. It is crucial to begin by building highly talented digital teams, rather than looking to implement specific technologies straight away. These digital experts can provide the insight and understanding which points to the most impactful strategy.
“Without the expert workforce, companies will struggle to understand the possibilities of what can be accomplished. As their first priorities, business leaders must formulate a strategic overview of what they want to achieve with digital, then secure a talent supply chain which ensures they have access to the right capabilities to achieve this.
“By putting in place a strategic plan and a talent supply chain, businesses can unlock the true productivity gains to be had through digital, allowing them to compete both now and in the future.”
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