According to DXC Technology, it is expected that the majority of companies will increase their investment in digital technology this year. DXC's new report (2019: The Year of Digital Decisions) suggests that new digital technologies can help businesses achieve greater cost savings and more profitability.
The Senior Vice President and chief technology officer of DXC Technology, Dan Hushon, said, 'Companies overwhelmingly recognise that digital innovation is now a requirement for them to compete and succeed," and the report says that three key organisational functions have been digitally enabled. However, the biggest roadblock to future adoption is tight budgets and security woes.
The report also says that four in ten businesses will be increasing their investments by 11 percent or more. Hushon continued to say that "The survey findings point to perhaps the most rapid, dramatic and sophisticated effort at reinvention that major businesses have attempted for many decades, and those surveyed are committed to investing to make digital happen."
Other than cost savings for companies, digital enablement can also open new revenue streams, with more than two-thirds of organisations saying they have earned more thanks to digitalisation. 74 percent expect even more earnings within the next three years.
Survey report interviewee and the Executive Vice President and chief digital officer at Charles Schwab, Neesha Hathi said: "We strongly believe that we can make the customer experience easier and simpler while leading to better outcomes through digital technology, and that will continue to drive our market share."