Scaling up technology could be the key to business success, as those companies that are successful in scaling their technology grow their revenue twice as fast as those that aren’t.
This is according to a new report from Accenture, which polled more than 8,300 organisations across 22 countries and 20 industries.
The report ranks organisations in three different groups, with the two main ones being Leaders (top 10 per cent) and Laggards (bottom 25 per cent). It argues that leaders (and those are the companies that are good at scaling technologies such as blockchain, AI, AR/VR) grow their revenue at more than twice the rate of Laggards.
It says that in 2018 alone, laggards “surrendered” 15 per cent in foregone annual revenue, something which can grow to 46 per cent in the next four years.
The fundamental difference between the two groups lies in the fact that Leaders believe how humans and machines can “bring out the best in each other”, as companies and their ecosystems create mutual alliances.
These organisations are motivated to build boundaryless future systems which are both adaptable and “radically human”.
“Radically human systems talk, listen, see and understand just like we do, bringing elegant simplicity to every human-machine interaction and creating tomorrow’s advantage,” the report explains.
“UK businesses recognise the importance of investing in technology – but the thing that separates the top companies is how well they get value from it. That’s easy to say, but the reality is that building a technology strategy is not without its challenges,” said Zahra Bahrololoumi, head of Accenture Technology, UK and Ireland. “Value comes from scaling effectively and connecting technology to people. Having a clear vision that connects pockets of technology investment into an ecosystem will help businesses to scale their investments and find value.”