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Many European businesses lack agility

business growth
(Image credit: Image source: Shutterstock/Peshkova)

Many European businesses are lacking agility, without even knowing it, and are missing out on a number of revenue and business growth opportunities as a result.

This is according to a new report from digital workflow company ServiceNow, based on a poll of 873 senior decision-makers. It states that, although more than half consider themselves “extremely agile”, just a fifth (21 percent) of companies achieve agility in practice.

ServiceNow categorized almost half (45 percent) as "in motion", or in the middle of their agile journey, while another third (34 percent) were listed as "static" or "disconnected".

The benefits that extremely agile businesses enjoy are many. Two thirds (65 percent) said they were now returning to growth, something less than a third (30 percent) of laggards could say.

Further, more than half (53 percent) are offering excellent customer service, compared to just 16 percent among organizations in general. This stellar customer service comes from flexible operating models that allow businesses to quickly pivot to customer preferences and continuously integrate their feedback, the report concluded.

According to the report, agile companies also outperform the market average by 10 percent in terms of talent attraction and retention.

"The majority of European businesses are neither lagging behind or charging ahead, but sitting in that middle zone of having started without yet achieving their full potential. With only one in five European businesses currently in the advanced stages of their journey, there is a huge opportunity to drive agility into every aspect of their organization,” commented Phil Carter, Chief Analyst Europe at IDC.

“By partnering with experts who can show them how to harness this potential and build sustainable agility infrastructure, businesses can be ready, resilient and adaptable in the face of any future challenge, with the ability to bounce back and return to growth with confidence.”